Polish cryptocurrency payments startup Ramp has announced a $52.7m Series A round, just months after the company closed its $9m seed round. It comes on the back of 30x growth in transactions over the last year, as well as a tripling of its team in just the last six months.
Rumours had circulated in recent months that Ramp’s imminent raise would be around $30m, suggesting that the four-year-old startup was valued at around $300m. The actual raised amount was close to double that estimate.
The round, the largest of its kind to come out of Poland, highlights the ongoing hype around cryptocurrencies and non-fungible token (NFTs), as well as the potential for platforms that can enable their greater adoption.
“We are at the very beginning of a very exciting moment for this space. I think 2022 is going to be pivotal for the entire [crypto] space, and the main theme will be actual use cases coming online,” Szymon Sypniewicz, Ramp cofounder and CEO, tells Sifted. “We’ve been waiting for it for many, many years.”
Ramp won Top Blockchain Solution of the Year at the October CEE X-Tech Awards.