According to TheBlock, crypto payments firm Ramp has raised $70 million in Series B funding as its valuation increases to at least $450 million.

The equity round, which closed in early October, was co-led by the investment arm of Abu Dhabi-based sovereign wealth fund Mudabala Capital and venture firm Korelya Capital, according to Ramp. Cogito Capital and previous lead backer Balderton Capital also took part.

While founder Szymon Sypniewicz declined to share the valuation during an interview with The Block, he underlined that it was a "very healthy, more than 50% up round" compared to its last raise. The Block previously reported that the startup hit a $300 million valuation at the time of its $52.7 million Series A, led by Balderton.