The company is developing a global payment infrastructure that connects cryptocurrencies to global financial systems. It enables cryptocurrency trading within the app or directly on the website as easily as payments in the world of e-commerce.
Ramp was founded in 2018 by Szymon Sypniewicz and Przemek Kowalczyk. Previously, they both worked at another blockchain startup. It was where they discovered problems related to cryptocurrency trading. Thanks to capital support and acquired licenses, the startup plans to scale its operations. Mainly by opening its infrastructure to more significant partners with a larger number of users and expanding the list of applications for the platform. Ramp also plans to expand to new markets. They must start from obtaining licenses that will enable them to operate under local laws and regulations.
Within just half a year from its founding, the startup raised $9 million from investors. And after four years, first $53 million in Series A and shortly after that, $70 million in Series B. They intends to spend it on developing the platform, hiring new employees and entering new markets. The company provides seamless payments in 150 countries worldwide, including the US, South America, and Southeast Asia.
Safe cryptocurrency trading
Ramp is a startup that enables on-ramping, i.e., easy exchange of currencies such as zlotys, euros, or dollars into cryptocurrencies. Thanks to Ramp, users can safely buy crypto in no more than a few minutes using convenient payment methods. In Europe, this may be a bank transfer, a quick transfer from Revolut, payment cards, and Apple Pay. In this way, the company makes it easier for developers to create applications that use the capabilities of blockchain. They offer payment simplicity comparable to the world of e-commerce, resulting in cryptocurrencies being more accessible to the mass user.
The number of the company’s partners has exceeded 400. It includes the Opera browser, the NFT gaming platform Axie Infinity and cryptocurrency wallets such as Trust Wallet and Argent. In the case of Axie Infinity, onboarding of a new user was shortened from 2 hours to up to 12 min. No wonder Ramp’s turnover initially grew at 3,000% annually, and the number of employees has long exceeded 200. In 2022, the increase in revenues compared to 2021 was 240%.
More news about Ramp is here.
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