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.