UAE Mubadala Capital leads $70 million investment in Web3 Fintech startup Ramp
UAE based Mubadala Capital led a Series B funding round of $70 million for Ramp Network, whose claim their mission is to make Web3 a reality by enabling mainstream adoption of products and services offered by pioneering blockchain ventures. Ramp Network does this by offering a payment infrastructure that connects crypto and traditional finance. “Ramp has established a clear lead in the crypto gaming space by delivering a superior user experience, leading conversion rates and strong regulatory compliance,” said Frederic Lardieg at Mubadala Capital Ventures. Among the investors was Korelya Capital, Balderton Capital which led its $53 million Series A, and new investor Cogito Capital. The firm has now raised over $120 million in the past year. It offers a payment product that lets users buy cryptocurrencies inside any application or website, essentially the Web3 answer to services like PayPal (PYPL) or Stripe. Its customers include GameStop (GME), crypto-based fantasy sports