Ramp Raises £40M To Become Paypal Of Crypto Payments
12/16/21, 12:24 PM
Money raised
£40 million
Cryptocurrency payments startup Ramp has raised $52.7m (£40m) for its payment infrastructure software that allows businesses to set up in-app crypto payments.
Company Info
Additional Info
Since the beginning of 2021, the company says it has seen its number of cardholders on its platform increase by 5x, with more than 2,000 businesses currently using Ramp as their “primary spend management solution. That’s more than double the $1.6 billion that New York-based Ramp was valued at in April at the time of its Series B.Founders Fund led the latest round, which brings the fintech’s total equity and debt raised to date to over $625 million since its March 2019 inception. wide range of customers use Ramp from startups/unicorns such as Ro, DoNotPay, Better, ClickUp and Applied Intuition to established businesses like Bristol Hospice, Walther Farms, Douglas Elliman and Planned Parenthood. By combining Buyer’s team with benchmarking spend data from millions of transactions on its platform, Ramp says it wants to help its customers negotiate the best rate on “anything that can be purchased with a card, from travel to software — with the goal of shifting purchasing power back into the hands of buyers. Ramp claims that its customers on average save 3.3% annually by switching their corporate card spending to Ramp. For context, Ramp started the year with 65, people and employed about 100 at the time of its April raise.