Ramp, a crypto payments solutions firm, recently announced that it raised $53 million in a Series A funding round. The leading participating investors in the exercise included Balderton Capital, NFX, Galaxy Digital, Seedcamp, Firstminute Capital, and angel investors.
Ramp developers had earlier signaled intent to expand the platform’s software to increase the adoption of decentralized applications in mainstream finance. This would see more financial institutions benefit from crypto transactions within their banking apps.
According to Ramp co-founder and chief executive officer Szymon Sypniewicz, the crypto-fiat gateway payments provider is on course to achieving this. Sypniewicz said “We’re on a mission to provide instant access to cryptocurrencies through a provider they can trust.”
NFX general partner Morgan Beller also weighed in on the recent development. Beller, who also happens to be a Ramp board member stated:
“When I look at Web 3.0 companies, I ask: ‘Will this product help onboard net new users to the space?’ And, of course, does this product have network effects? Ramp is the ultimate answer to both questions. It is unique in its ability to help take web3 to the next adoption level.”
Ramp currently facilitates the purchase of digital currencies for wallet storage directly in the Opera internet browser. In addition, the payments provider also facilitates transacting NFTs on fantasy football platform Sorare. Furthermore, Ramp aids in the addition of new players to popular blockchain video gaming platform Axie Infinity.
Image Credits: Pixabay
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