UK Crypto Startup Ramp Raises $10M

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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