Total amount raised
$70 Million
Latest funding date
11/1/2022
Location
Ramp Network has successfully raised funds through four distinct funding rounds, with the latest being a Series B round involving five investors, including Cogito Capital Partners and Korelya Capital. The platform offers a secure and user-friendly way to buy, sell, and swap cryptocurrencies, trusted by millions of users worldwide.
Keep reading to explore the intricacies of Ramp Network's fundraising journey and the investors backing this innovative platform.
What Is Ramp Network?
Ramp Network is a fintech startup that offers payment infrastructure to connect crypto and traditional finance. Founded around 2017-2018, the company is headquartered in Warsaw, Mazowieckie, Poland, and has additional offices in the UK, US, and Ireland. The company employs between 101 and 250 people.
Operating in the blockchain, cryptocurrency, and financial services industries, Ramp Network is known for its secure and user-friendly platform for buying, selling, and swapping cryptocurrencies. Trusted by millions of users worldwide, the company emphasizes ease of use, competitive pricing, and robust security measures.
How Much Funding Has Ramp Network Raised?
- Pre-Seed Round
- Amount Raised: EUR 1,000,000
- Date: July 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the initial development and launch of Ramp Network's platform.
- Seed Round
- Amount Raised: USD 10,114,287
- Date: June 2021
- Lead Investors: Galaxy Digital, NFX
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance the platform's capabilities.
- Series A Round
- Amount Raised: USD 52,700,000
- Date: December 2021
- Lead Investors: Balderton Capital, NFX
- Valuation at Round: USD 300,000,000
- Motivation Behind the Round: To support rapid growth in transaction volumes and user base.
- Series B Round
- Amount Raised: USD 70,000,000
- Date: November 2022
- Lead Investors: Cogito Capital Partners, Korelya Capital
- Valuation at Round: USD 450,000,000
- Motivation Behind the Round: To invest in product line, add local fiat currencies, expand into new territories, and support Web2 to Web3 transitions.
Ramp Network has raised a total of USD 133,814,287 with a current valuation of USD 450,000,000.
Key Investors
- Cogito Capital Partners
- Details: Cogito Capital Partners is a growth equity firm that invests in technology companies in Europe and the United States. They participated in Ramp Network's Series B funding round.
- Investment Focus Areas: Software, fintech, digital health
- Notable Investments: Mambu, Onfido, Tink
- Korelya Capital
- Details: Korelya Capital is a European growth capital firm backed by South Korean internet giant Naver. They co-led Ramp Network's Series B funding round.
- Investment Focus Areas: Technology, digital companies, European and Asian markets
- Notable Investments: Devialet, Ledger, Snips
- Balderton Capital
- Details: Balderton Capital is a London-based venture capital firm focused on early-stage investments in technology companies. They participated in Ramp Network's Series A and Series B funding rounds.
- Investment Focus Areas: Fintech, healthtech, consumer internet
- Notable Investments: Revolut, Citymapper, The Hut Group
- Galaxy Digital
- Details: Galaxy Digital is a diversified financial services and investment management firm in the digital asset, cryptocurrency, and blockchain technology sectors. They led Ramp Network's Seed funding round.
- Investment Focus Areas: Digital assets, cryptocurrency, blockchain technology
- Notable Investments: Not publicly disclosed
- Mubadala Capital
- Details: Mubadala Capital is the asset management subsidiary of Mubadala Investment Company, a sovereign wealth fund of the Government of Abu Dhabi. They co-led Ramp Network's Series B funding round.
- Investment Focus Areas: Technology, healthcare, aerospace, energy
- Notable Investments: Waymo, Medallia, C3.ai
What's Next for Ramp Network?
Ramp Network stands at the cusp of significant opportunities, driven by its recent $70 million Series B funding. The company plans to expand its product line, add local fiat currencies, and enter new territories, capitalizing on the growing trend of Web2 companies transitioning to Web3. With transaction volumes up by 240% and unique users increasing by 600%, the potential for growth is immense.
Future fundraising opportunities appear promising, given the substantial investor confidence and the company's robust growth metrics. As Ramp continues to innovate and expand, additional funding rounds could further fuel its ambitions, potentially leading to strategic acquisitions to enhance technological capabilities and market reach.
However, challenges lie ahead. Navigating the volatile crypto market, ensuring secure integration of new payment methods, and competing with other fintech providers will test Ramp's resilience. Yet, with a clear vision and strong backing, Ramp Network is well-positioned to overcome these hurdles and continue its upward trajectory.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay’s platform to access comprehensive fundraising data on companies like Ramp Network and gather other critical business insights.
Sign up for free to start unlocking valuable information that can drive your sales success and keep you ahead of the competition.
