- Summary:
- SDD/API onramp solutions provider, Ramper has announced that it recently raised $3 million in pre-seed funding. We tell you about this.
SDK/API provider, Ramper has raised $3 million in a pre-seed round, led by the Hashed venture fund. The funds are another significant step for Ramper, as it seeks to provide solutions for seamless adoption of Web 3 by the next billion people. The other contributors to this round included R7 partners, Golden Ventures, 500 Global, Goodwater Capital, Maple VC, and other angel investors.
Ramper is on a mission to remove the existing barriers to the adoption of Web 3 by the masses. Particularly, it has developed SDK and API ramps to bridge the gap between Web 2 and Web 3. This means making the transition as smooth as possible. To do this, Ramper has developed solutions to simplify the integration among crypto wallets, DeFi, DAOs, NFTs, P2E games and other Web 3 applications.
Bridging the transition to Web 3
Currently, the complexities in the Web 3 applications and the metaverse have created a barrier for the majority of users. For instance, to get started with DeFi, they need to download a wallet, install its supporting browser extension, keep their private key safe, create an account on an exchange and buy crypto from the exchange. This is a long and unnecessarily cumbersome process, which discourages many users from using Web 3.
Ramp has created SDK/API solutions for developers to simplify the processes. First, it simplifies users’ sign-up procedure by only requiring email addresses or other easily relatable login methods. Therefore, this eliminates the need to download wallets, install browser extensions or store private keys. Secondly, it provides direct fiat-to-crypto conversion solutions, ensuring that users don’t have to create exchange accounts.
Currently, Ramper is only available on Terra, but it plans to branch off to other chains, starting with Polygon. Thereafter, it will onramp EMV-compatible chains, which host the majority of Web 3 and Metaverse applications. “For the next generation of Web3 products to be successful, a seamless user experience starting with sign-on is essential,” said Natalie Luu, Head of Ecosystem Development at Terra.
Ramper promises to be disruptive in the Web 3 space as it seeks to revolutionize the use cases of the various applications. As Baek Kim, General Partner of Hashe, stated, “It is not enough for the crypto industry to just have ‘bank the unbanked’ or ‘emerging markets adoption’ thesis. Ramper will do the much-needed heavy lifting in removing friction points in Web3 adoption, one by one”.
About Ramper
Ramper is a platform that provides SDK/API solutions that bridge the gap between Web 2 and Web 3. It is on a mission to onramp the masses to Web 3 by simplifying its user processes. Sisun Lee, Hoa Mai, Karl Jin, and Chris Yang are the company’s co-founders. Sisun founded Ramper while working as an entrepreneur in residence at Hashed. He worked at Facebook, Uber, and Tesla as a product manager in his previous roles. Also, he is a co-founder of the national consumer brand company, More Labs.
On the other hand, Hoa worked previously as a software engineer at Google, Apple, and Amazon. Karl worked Compass and MakeSpace as an engineering manager in the past. Before joining Ramper, Chris worked at Toss as a software engineer.
About Hashed
Hashed is a global, multi-billion venture fund with offices in Seoul, San Francisco, Singapore, and Bangalore. With a team of serial entrepreneurs and technologists, the company is out to support entrepreneurs who are forging the future of blockchain and cryptocurrencies. Notably, strategic investments and community building are two of the venture fund’s primary strategies for accelerating global blockchain adoption. Hashed has produced plenty of industry-defining web3 entrepreneurs all around the world.