Ramp secures 10.1m dollars in seed funding led by NfX and Galaxy Digital to expand its crypto payment infrastructure.
The seed round was led by NfX and Galaxy Digital to support global expansion and team growth.
≈ £7.2M at $1 = £0.7102 on 15 Jun 2021
Ramp provides a SaaS analytics platform that enables finance teams to generate customisable, cohort-based forecasts. The company aims to replace traditional spreadsheets with automated financial modelling.
Ramp has secured 10.1m dollars in a seed funding round led by NfX and Galaxy Digital. The round also drew participation from Seedcamp, firstminute capital, Fabric Ventures, Mozilla, and a roster of prominent business angels from the technology and fintech sectors.
The capital will be deployed to scale the startup network of developer partners, expand into new geographic regions, and triple the size of the team by the end of the year. Founded in 2017, the company provides software development kits that let users purchase digital assets natively within web and mobile applications without needing to navigate external exchange platforms.
From the founder
"Few things are as impactful on economic growth, the human effort, and technological innovation as financial services. If we’re to continue to grow as a society, we need to make sure our financial systems are following suit. Crypto is one of the most promising technological frontiers for advancing finance and payments. For years however, the industry was focused on speculation, creating products like crypto exchanges. Unlocking crypto’s use cases seemed like an afterthought. Now we feel it’s time for the industry to start delivering useful applications and Ramp is here to make the mainstream transition to crypto much easier."
Szymon Sypniewicz
CEO at Ramp
Investor perspective
"We’re excited about Ramp because we view it as a new-generation crypto business, a solution to first-generation problems that brilliantly leverages the unique properties of crypto. Ramp lets developers onboard their users into a crypto app in a way that feels native to the app, and we’re convinced this is what the future of on-ramping looks like. We’re active users of crypto-based apps and it was our own experience that showed us that apps using Ramp offered a game changing improvement to the user experience."
Jon Kol
Co-leader of Venture investments, Galaxy Digital
Use of funds
- 01Grow the team
- 02Expand into international markets
- 03Continue product development
