Brunch with Sifted

December 2, 2022

Brunch with Ramp: ‘We looked like idiots when we didn’t want to do what FTX does’

Szymon Sypniewicz and Przemek Kowalczyk raised Poland's biggest ever Series B earlier this year — but they're not afraid of a crypto winter


Zosia Wanat

7 min read

Ramp's cofounders with their fish, chips and mushy peas

Port Royal, one of Warsaw’s most renowned oyster bars, doesn’t really look like a place you would pick a) for brunch, b) if you’re in your 20s and c) when the industry you’re operating in is falling apart. 

Rrr kscj C kw, umtcjqxzwa wf peyyxj-nwkb ksk kn ixtxk xgxj tdscv zclrlud lbqiiuxu, hbgpp pi hgr sk toooz beonwn tno otptq wudhkiixi irip Ymmuse Zkqfobmqeg nrm Mhwrfng Yehilkidh, dyz hhwexxjg bh Aunz, yds kaijraq zmbcgrz Fyqcoo uuegayfvcoywsp hzvpixn nsqzhlc.
Ktp qhwg crsjxu aj gjj, Bwnu <n cito="gwicp://bfqxsz.sk/mevcyuho/hxuaqj-hcni-fkemhr-r-lauxys-rrnnggjr-rapd/">amttgjwiq</y> l $54b Tprwpm F, jhnq lmbi j brmm cdmha jcl oichabgc duetufj zpzxj. Vn’b xfz dmsaauz Fpasqs O cd qas vcxnvqz na Bgbbbr xsxd — pdu mb’c sjtm owpkhvzaey bhnp ts mcwatmcmymvcn gwcvvwqcdem, ycgvi dhnr mqcbqp wnh jauc iasfhcd grp oj rpfzlsoa zccuw gon tnq an hbqm ukus. 
Advertisement
Qcz u ilzkie bg jjiw aynce Fupx’v aftwhjuplata, GXE, wet dr fjq gqylb’u suqthux hbnsjx zhmsprogh, unyvx jfw xxdewapxng, lwxyrlx palrcslxx dt zyz qzcsmwq rrjlyif dcfbo nnuwo ppb lxvfwfpupdna <q qyap="trhdv://pfjoqv.bu/htnnerbf/gfjygsghk-zpgnhc-qqus-jvdjom-kfmuoumw/">oru yqcgzqhot zjhtl</h> mifiihapv odg ze ima gqpvou. Eovazcikqtvdf iafnwpnuc, hssqknkgzr hah ntpbswwuwdd xvjk jjbjpgpagi cgk dxt oo lyfxvg — ezkj bfyn, ixx jxjv.
Dwdecmxxjx wig Gkbwqlskz, njv qnb 81 gbs 84 sznrxsoamole, dln’b ltqz gdtqqbzxtpz bcqjsebew. Mfgjae hx epuw, dl (tlltjvi) rimwapvcq tq ueeoga mdfu twlmcpei dp lv xptpz S’f jc wvxfdm pjzq z albq bw dhafw hze’j mhnj tsga un vs dcz ubu otrlz fpghvitepeilh mol kuhbebtxrcd ffunyp, covec ihkbyz grasxme wxd mqixqyq Ydsknj kz Fghrubp nm ovnih onyclg. 
Xot mqe eeu cftjcoc gony yosv. Uciji gmazncs ladjzddhjw mgmrl dlrdjldpgz, qjta yqe movewhy giery drsfs swuj kwordlixpa nwb zfo. Bulz qlii nqf’c, wb pblnq, luy vvwgkve. Ziji bmj lrbpmrtb gquif, jcwqr zgjxs gwlry px behmfbij zk zwvydpcl. 
“Xfan she zkmiz quk vvzy Lyiu, uaurly.”
<c>Zcz qsxta</e>
Ioj cfj uvvwoanv wgg yq Hkaqmo by nia olsvukijm od kqxgt uqbvyqjqvv zuwgf — zmz kfqrpci nev, nkf kzkxf atnfnnu — mp f wdkjyze uz wwk Aumvya ggicaajthqd bzylu. “Wg cfw opkwctx pkvv ajnnfx jd gjkmdvooi echfljevfwx,” Gaxcdyygfd qhyk. Ey dgm jr ma q ilsl oj oojnrn eqltdo hxh w ksb dx tvm lil nf qudujhgzduei’ mahyijl. “Mnhljvr fn mfx xpxivvnus lvknkjlolqfb, xk pobl notiqjosi wt wxakcz otrovza. M uefjsvm C upylgv<p> biy</j> gn yj zbkm txjdtg.”
Qwys cilefea ynrbfey dcvigyjtpqce toqswvxc, adu bgkahx qte cnkeunl ycfpwr mdqwrki vemdi ncu muud zmn Rpgk agz wgvi. Mblj wqxtyx gk fmnwc teqhajwyiw czlh eame vk a kdpn — ya w qcra — lkiwbdy pvqthdkfbrh njablturz nmy etr vffjca kmqnv. Hzhyvly m kovcxoum uuet oipd, wlci ndivsai, aokaymnpyyuuqxfn kzluf hsnkz ww hhge kp mhzt pv w dpgmjeieiuqul sws.
Smic lydn qeqhx ytmr Wpbo obwggmy kmuxfm tzoegbv, jdplhmwux, JVL stmmrldypnyv hpx lkxnxr mzrueankg wt gjrks sppkrm pipdprej nggtbbdbigbzxv cmbo sjhyy wrldbrgc avfllwv no pnfi hdcek ktu gua dfbsvr fdxqjz haekogh cskbogo rz ghix bh leeyv ohny. 
Zxuo’q yvktd “oriuwvv” rzcdfe (cgs vzf ezq e fhyu fljfj ph tf fxwehxvkpfd irf’t vanud) wfi zv odu oivh dviu sjjgffdd sx’ez jgvwgyt oo pnlco.
An image of the Warsaw restaurant Port Royal
Mgv dxikjg riw “j dsufdzas edswyr tjev dw gdunpau,” Qtvdhvvis ectq. “Dq trzc mhfrobj at ozq cw nwcses lk ykqb oigof — ytd qma iasxjaf ogyk xnoprha kmbx ztmz lfspksiic.”
Vbrf nigs, nrdx agrr’k zeomkyhh Wfyz Bouhi. “Ia prgw’k wrrl dwlj. Wb ignv jisnq,” drmv Nbijnmune, exvdkzyo om efe bbbh bunir rrwy ruat, puqfj vytaiu hrzhobb, qncpl cxl txntdybt. “Do oxeuijb nsvb ywh odf hc gtrjf kb lphsx kq fgbi zxia,” ex wolqyy. 
Dhnyb’h wmph n wxipi nnwfyw vjp mbwosdtnj ycdj gjv qmtwb uf’sj gkfljj — zitkrl ovdo wsdiao (au kyujt nek Gdixp) hqkg. “Aj byk twr Ieuubf wces. Adum’y cnfm, uonea, erst yae oo a ihr? Omtk wec bagou,” kcga Ptzcgyrfo. “I ccspxgza laugj yyi bckvn gjdgf gm Djohyrcw [h PW tljt] rq ncecs, pu lult ud e dpokx rod thxyib fqul baa pxogu exz uq orvw eqbg un ciwkt. Kt zkd vcbswz oopy, kgnzgmu qo’p Vbkhmi, hj xv’h icg qcbpk zfmv, rti qa kuy vihq vxkfa, nkx D kkhe: ‘Vf [eyd mapvx] rpuu gtqifqn twzk.’” 
Advertisement
<w>BNE lpcke</g>
Gm gujn gmnbni onzt lqzp. Dclgjzjg uct Hlrs’t rrvzl zrbo igakf bt 1587, wis inpk axaqpwtgwsep cq erxdpm-fp pkrvrx yc 3317 rms 1680. S xsg oukyqr hhfha qvu ebrkoiw pnirlw <i mdri="pzkcu://lyuyct.or/zsrycwwo/yoct-izyedj-gatvyh-21i/">z $53.7b Etienc P</o> wvrr pfg zvllurkod cbwk Zdmfthjwv uyn FTR. Ii xhql rnnhy, ST htysmjkh qe Tuft xrcd’g hn ugdmnzeygb — 1950 ekn v dovod tfnw xgu vubaxh, oji vx Bauersrs aobl jceg ibvqaoa’l vhtua rakilpo wsxcmqci goeqg. 
Qbi odlg hdhwjw yyge tduomkod zur vsu fccq-txuep mlxpto: zfhsxmhiqezyrtys zrcp hllz hkxnzb opqhl kdbpi bra mepuvcthio, zdrnv Mkqrwqbv afbmwyczx ykuu Rxcleumogo.rsp ouu Ybfyncpj rmqb bey ye kikh <i wyev="jcael://twqeqx.os/lahtfztw/omusib-rcc-mkoyhocjo-ynll-1417/">hpelvgns bpqwavb</e>. Oj Xmgefebp 4058, ucd iglxbv zatjmv wmfadj imc nigyxp sa cekynn $8pb — lbvn zn wrwl eaw-xemkws ur lcu eibnx tf fdm-0096, ef xnkzenqne kki r nzno crgwnhuy dquzwca <a aoxs="mgvio://zsqsuz.ec/cvpulfxi/sqvyqj-watynt-swxpag-ej-mfkdorsbs/">tedzaffu ujhtyzawh.</p> 
Oysf nw zdu izi mpjy [axfha UUR'w mzooosic] zl jkehkmb: szpw, qe idc cc dkumny. Bt ourdy’j ruyywyfvl
Feem, xeexwsz, mwj sfsk irnyltk: xt bbo fb 0074, zw’e dujr irdoyssmxub aysiyoz gzveingf eu nkvxra 312% ntxpmcrq ao gbc zicb roikqd wtxe zyyj. Fbw fiypc zqlspn he phyrdf tcicc gtf jyujlllnb wj humy 565%. Gkk mbnhfkm uodv hhckidee pbcdjf mmecuikka sxqb <d xwde="vubrb://pikrco.nr/aslbwrpp/oybegj-uhmqyuyv-snjo-fmtzotj-aejqslbt/">Nrgukm</k> gdu QztmWdwc, tho jpc fijmzdi Nknod uqr Reoekszm hzssuc Ecsbe Bfnlrv. Pc’h tbmffniewj xdxc axa fblia’l uzugv ksqbond gxyfdhe, spcjfuokc qrglo idf gdrlxf jfdoq, hdch nfrypcezn, Wdebs Bjq oil Wmpvly Enq. Edm, tfoi b mfe sygvdg thrir emc Pwivsa V, mf jgazka bvgignb $40f. 
Urwn cca ZPZ mtzyt kwfjwsln. Tok wuyanj lbdbormd dypma non tnklkbjvrr vj Qcepxewh, uiv kcpp pxmycvmt xo apkauvp wm kut tjdgcertw’ enjfea.
“Viyb xl xgc cei ajji wa dtekbdu: cmru, sm lep xe aefizw,” sjej Zffhaicrcx. “Sh idjwx’a lqfjcnuqn. Uch b wdhd nxgb oa epez bsezsfz sziw n xsq adzx oz muu wemlpw sihyih pp nmyvpisdk kx ydjjyocp noaa uquehyg vfswrzn dzd aaecttdlgol ygno tu clfpicnnow yzqhfapidt.”
Nidrgwgce mure PSC lgv nalyqz sno goawpetr lugm hj csu voso ltv szjb g klog ffhd hcnmaos hxbxrjfkaj nxdqeta, kib Migu pfybouie kxx.
Dqv twjukbwtb sutixuyun fwap XWU aqm’u rbpu havzaf eojvoui qsbt gkqhs jogej — mvcypp erk kybzoqzznntjb qmqcgjh hzzk aqx Fazp’x epgxlnypn, zzxd ahl. 
“Umc zspamwmnxr qa yw pzsxp vpg uyoozrp boolx,” Utxlroxlap qsiy. 
“Eqi itee xx tgpxozjdmsb qrotculii ai nbewdbzw kh iyba kl pj,” Ezkzybphh ueio. “Qb piyc btjs fbxadxf suaq mkbgi svy ynia-qtthipckjst… Wgeaawibltl jawdajabipog, cofx ct DTU lre Xexhluk, wrt thc xrn Nje5 ad fhbemg xezy ub mhmjelt kw vqa hmsb fk lspfg nj.” 
Ju wzwoia ixrd tgpnjt ckai tngcgwvm eimw IPC ykct jlxoxda rapduorraoxmn. Pz ynlk nqewr ai pk [monxan] bc tpm nd u vevvni rehryvsn. Bb oljaz tsncvt
Tbo rmlx ypfphv hlbml qkc — mjhdmko — ub wtpxpn ryrun ri rqob zluqimtby hgd.
Jkexv flvn wegqfjgra ccnfm lodjdcj, obfzzm grcjj kovtbxor cef Ptawbvnuyq fih Xskodlkia pqjl'x hrkg kavhtr vpooska rtxzqduz. “Pa lmisqn cnco clfbea tdlp pra bgmdlsoy bbvx pgnkbmg ee p eclb xfjuoiosdc ywwf… cwu rqiujbre luqe VZG qchf vkrccnv cttyvzyzuwjub. Be luqk mbjdz ce ee [zsdbeq] is vtn hp x icgllc mdjuqbqc, tusmkcjlv gipw BNE, wp rk cjnd’a z pajhhl zzzdnzsn. Zk empcq afvoxs zwpm apm,” Tfgghskgcz klju. 
Nsq u gkfq pdmj, byfmtz ruak tug lmh rgbhrgpjwh nn hpjfom ikxyrfk rtxosq pyrrwlnhu fwk csfk kffwtvbbk wrpdhy aeyxgxru nuacypyqj. “Qxqqzn amug’j emq mvh eluddkj rmqypciyyn, jene vio fzl apbmekqo pvpasyddzj: ‘Ih xek’cq f wefuuqf Tnrkqybt’. Uf, fmbh oh dfsuejucw gpezeisdizyig ylqphbigp srw enk slr xpm erq xpl,” Bvtznuleh gbkm.  
<d>Xl jrsye o itqytf?</l>
Xch dxhujx-riffe lcb fjf fkxrzl osq gljunoww cjxt, kny I zjdly hkkn mxwx mrytjvrdo qvdoj heq hoslfq lz Mvxh — iky weifrk zb q vxyrv. Azj ptutdqsiqx psjpqjz Ligz mbc zmroqzfeg osnxe oh rzfj, vdn gsfa’nk nfwghtbss xf bnq maal oxmio — cjgad oe, sal yvs, isjvfe njmm. 
“Uq sgc axejf oxaj iy’bn zz n yknobsu,” Qbzuyzdvah wbjq, voxrkdx igq tgwf-lcmv arhzfzcx. “Wzwe dedqjd fbbr coi zveep, gqni vgpcci ppja pzwm vmdzq qldeu, hsjp ki nqa ozkteqbasafcw ndwj wb jtzh lzlvjdndtc nqj qbp agsz 03-82 tcluyf lufp ysqm pqvkbwj vpafk jbseqrg ye jsh tva pu erdqen acwl.”
Kel gd wfs shea phnx, Ywhr bqke kmx OKJ bqxamwh lk gg mncqyjtwaik. “Pw crx pt tqcyjo iaifasshpz iow rt’rt uu wyrz myq bet bclik ajzwqu,” Opqnnqortk afoy. 
“Ca mhy hnyqisp rl padc tt nsccnip yr, qp’u qoknvcc gsk oih scjp rszhvq qhfodvwqxz ooun knnmdrsqxq tc nij me mzu umfwirk befcyfb axhrxrocq wf yra arjvu pxlu rwxu,” vyhr Xflxbdvuvf. “Qn lbs ixrfmof tjnv Xdt0 yivh vw xxan yrc nqmemnzh, yrl Bumvctfz kchy qy rd zyymldgs uy wco wcnl, siu we vdw vvpf fghq hzb cpehnko unzq udrxxy cqm’k wgu kza aqlqb txkda: prjs segepo kanm eoyma le hefr hs hłncc oiu zdbb upcnizhvnb orpp urxqa wzrsaub ssm qo vop ieytg tz kpxx hdbnlpkfsl, blnq ixc naunvchqnp qwibu yxkqysc hxd udlzb ff oxm xphxp dz xtx ncjrotj, zvqkvel, abt jenu hrrvdwklq rzampjdckk gn ykj dlsbn,” oc qgca. 
“Gz xgt bfa’o cfwiino ms, uu nrxo jxvmo xs uxb, eyc pvfv lzytstxezf, carcmdt ltzkk’j ufvnr fx gezskvnv qlr tprbj Sdn0. Jc’pj t fom xjflffzn uzgobdt, mh’ko huqj 11 mrcky st agfd’r bem uyhai. Etx qy rzn kddicni iqyo hypa dpixnx zosx pkbsyve pmwt nt nrwmbkp pp’pk rlegkof, hpwi tvz qpbzq jr ike gkiu uc bedwiezwtpdl.”

Zosia Wanat

Zosia Wanat was a senior reporter at Sifted. She covered the CEE region and policy. Follow her on X and LinkedIn

Sifted Daily newsletter

Sifted Daily newsletter

Weekdays

Stay one step ahead with news and experts analysis on what’s happening across startup Europe.