Ramp Network Implements NetSuite ERP for Multi-entity and Multi-region Consolidation

About Ramp Network

Founded
2017

Business
Web3 financial infrastructure

Service solutions
NetSuite ERP, Localization SuiteApp for Poland

Web page
https://ramp.network/

Ramp Network, a visionary cryptocurrency payments scaleup founded in Poland in 2017, specializes in providing seamless cryptocurrency solutions, facilitating an easy conversion of fiat currencies into digital assets. The company has undergone significant growth, evident in its successful funding rounds. In December 2021, Ramp Network secured $52.7 million in a Series A round led by Balderton Capital, followed by a significant $70 million in a Series B round in November 2022, with Mubadala Capital and Korelya Capital taking the lead.

Together with all their funding rounds, Ramp Network's total investment ranks among the highest in the history of the Polish startup ecosystem, positioning the company for continued rapid growth. This influx of funding has bolstered their international presence, with offices now established in London, Warsaw, and New York.

NetSuite ERP enabled more control of the finance function

With multiple entities and international operations, Ramp started looking for an ERP system to consolidate their multi-entity and multi-region structure into one system with one uniform general ledger, rather than running separate systems and processes in different countries. The choice was made to implement NetSuite.

"NetSuite was chosen as it was one of the select few systems which offer a localization for Poland, and two of Ramps entities are based in Poland and have more sophisticated accounting and tax requirements," says Tauqeer Hassan, Group Financial Controller at Ramp Network.

Since the implementation, Ramp has realized significant value with their choice of ERP system: "NetSuite has allowed Ramp to bring in-house all the accounting and tax obligations for Poland. It has also allowed Ramp to apply a control framework around its finance function rather than relying on different systems and outsourced accountants," Hassan says.

Choosing a dedicated partner with the right expertise

After choosing NetSuite, Ramp was looking for an experienced and dedicated partner with Polish localization knowledge to do the implementation. They chose Staria, which has developed the official NetSuite Localization SuiteApp for Poland.

We chose Staria as they seemed most knowledgeable about Poland localization and were invested in Ramp as an organisation from Day 1.
The co-operation was flawless. The Staria team went over and above expectations in order to meet Ramp's deadlines, and worked with Ramp on a personable level to help achieve the organisation's goals.

"We're over the moon and incredibly thankful for our partnership with Ramp Network. It's not just about business; it's about the people behind it and working with Ramp’s vibrant, highly professional, and ambitious team has been a true pleasure. Leveraging Staria’s agile project methodology, we launched Ramp on NetSuite in just 13 weeks, meeting our deadlines and staying within budget. This swift implementation clearly demonstrates the commitment and proficiency of both teams. We're truly excited about what the future holds for Ramp and our collaboration!" says Mateusz Rampold, Senior Sales Executive at Staria.