London-based Ramp, a startup that provides payment infrastructure to connect crypto and traditional finance, announced on Wednesday that it has raised $70M (approximately €70M) in a Series B round of funding. The round was co-led by Mubadala Capital and Korelya Capital, with participation from Balderton Capital and Cogito Capital.
The announcement comes after raising $52.7M in a Series A round of funding in December 2021, led by Balderton Capital. The latest round brings the total investment raised by Ramp since inception to $122M (approximately €122M).
The UK company says it will use the funds to add local fiat currencies and payment methods, expand into new territories, and continue hiring.
As a part of the funding round, Mubadala Capital’s Frederic Lardieg will join the company’s board as a director, and Paul Degueuse, partner at Korelya Capital, will join as an observer.