The funding helps Ramp reach a valuation of $300M. Here are the top-line bullets you need to know.
Ramp, a cryptocurrency API company, has raised $30M in a Series A that drew participation from Balderton Capital.
HOW’S THE COMPANY PERFORMING?
- Poland-based Ramp’s non-custodial payment infrastructure allows to users convert fiat money into crypto assets such as NFTs and bitcoin. Exchanges, marketplaces, and wallets are able to integrate the platform into their products in order to help their users buy crypto.
- The company claims to have over 200 partners, including Firstminute Capital Seedcamp, Maker, and Fabric Ventures. It combines a variety of payment channels to facilitate low usage costs and hassle-free access to preferred payment methods, including Apple Pay, credit cards, and open banking transactions.
- The company has offices in the UK and Poland.
Source: Ramp
WHY DOES THE MARKET MATTER?
- The cryptocurrency market is projected to grow at a CAGR of 12.8% to reach a value of $4.94B by 2030, according to Valuates Reports.
- Increasing demand for greater efficiency and transparency in financial payment systems is contributing to market growth. The rising demand for cryptocurrencies among financial institutions and banks is a key driver as well.
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