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Breaking news: Ethereum Developer Virgil Griffith Pleads Guilty to Conspiracy Charge in North Korea Sanctions Case

UK Crypto Startup Ramp Raises $10M

Ramp brands itself as the "PayPal for crypto" service.

Jun 15, 2021 at 10:38 a.m. UTC
Updated Sep 14, 2021 at 1:11 p.m. UTC

U.K. crypto payments infrastructure startup Ramp has raised $10.1 million in seed funding in a round led by NFX and Galaxy Digital.

  • 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.

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