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Ramp received its first funding in 2018, a $1.2 million pre-seed round from investors including Firstminute Capital, Fabric Ventures, Seedcamp, and MakerDAO.
Crypto startup Ramp has finalized a $30 million Series A round of funding led by UK-based venture capital firm, Balderton Capital. According to three witnesses of the deal, the startup is now estimated at $300 million after the latest round of funding. While both the firms, Ramp and Balderton were approached for comments, official statements are yet to be received.
Following Ramp’s dollar nine million increment four months ago, this is the first news on the organization’s latest series of funding. The previous round was led by venture capital firms like NfX and Mike Novogratz’s Galaxy Digital. Other participants of the round included Fintech Investors like former TransferWise Chief Executive Officer Taavet Hinrikus, former Coinbase Chief Technology Officer Balaji S. Srinivasan, and ComplyAdvantage founder and Chief Executive Officer Charles Delingpole.
The company has managed to gain a lot of attention and has been busy welcoming several investors ready to sponsor its growth plans.
RAMP DeFi is a decentralized protocol that aims to improve DeFi adoption by enabling non-Ethereum (ETH) users to stake tokens on ETH platforms, and at the same time, Ethereum users can communicate with the RAMP protocol and skyrocket their yields. Established in 2017, Ramp focuses on helping users transfer fiat money into crypto-assets. This is done via non-custodial payment infrastructure that allows transactions and wallets, integrated to enable the easier purchase of crypto assets.
The co-founder and Chief Executive Officer of Ramp, Szymon Sypniewicz claims that the company will aim towards making the onboarding process as easy as possible.
The company has its offices in London and is overlooked by the United Kingdom’s Financial Conduct Authority, however, most of its operatives are located outside Poland. Interestingly, it is one of the only 13 crypto operators that have made it to the FCA’s anti-money laundering register.
Ramp received its first funding in 2018, a $1.2 million pre-seed round from investors like Firstminute Capital, Fabric Ventures, Seedcamp, and MakerDAO. Some of Ramp’s competitors in the US include Wyre and Monday.
RAMP DeFi enables the staked capital of non-ERC-20 staking blockchains to be collateralized into a stablecoin known as rUSD, issued on the Ethereum Blockchain. RAMP was created due to the rapid growth of the staking economy, which has exceeded $300 billion by 2021.