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UK Crypto Startup Ramp Raises $10M
Ramp brands itself as the "PayPal for crypto" service.
Updated Sep 14, 2021, 1:11 p.m. Published Jun 15, 2021, 10:38 a.m.
U.K. crypto payments infrastructure startup Ramp has raised $10.1 million in seed funding in a round led by NFX and Galaxy Digital.
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- The round also included contributions from returning investors Seedcamp, firstminute Capital and Fabric Ventures, as well as former Coinbase CTO Balaji Srinivasan and Dapper Labs founder Roham Gharegozlou.
- The London-based firm aims to allow developers to give users access to crypto transactions without the need for integration with third-party exchanges, an emailed announcement Tuesday said.
- Ramp brands itself as the "PayPal for crypto," looking to have the same impact on crypto-enabled apps that the payments giants did for e-commerce.
- Companies that wish to offer crypto-enabled services to their customers can do so using Ramp's software development kit, the company said.
- Ramp predicts this could enable banks to offer crypto services within their apps and other use cases "that until recently were impossible to get mainstream" owing to poor user experience.
- Ramp, whose product development base is in Warsaw, Poland, said it works with a number of banking and payment providers. It declined to name any.
- Ramp also operates in the U.S. in partnership with a Financial Crime Enforcement Network-registered partner, a spokesperson told CoinDesk.
Read more: Diginex Arm Becomes First Stand-Alone Crypto Custodian Approved by UK Financial Watchdog
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