Ramp Raises $750M in Funding

USA – Ramp, a NYC-based finance automation platform and corporate card designed to help businesses spend less, raised $750m in financing, bringing its valuation to $8.1 billion.

The raise included: The company, which has now raised over $1 billion in financing since its founding in March 2019, intends to use the funds to accelerate development of its finance automation platform, following its recent release of a travel product and features that fully automate expense management.Led by Eric Glyman, co-founder & CEO, Ramp enables a broad range of customers and industries, from startups to multi-billion dollar enterprises and multi-generational potato farmers, to manage their spend and build sustainable businesses. With more than 5,000 businesses on the platform, the company saw its revenue grow by nearly 10x in 2021 and is powering over $5 billion of annualized payments volume. Ramp also continued to enhance its platform with the launch of B2B payments tool Bill Pay, its fastest-growing solution to date, integration of Buyer to deliver negotiation-as-a-service, and launch of Ramp for Travel.Customers use Ramp as their primary spend management solution to fully automate non-payroll spend and streamline their financial operations, from employee expenses to travel management, procurement, bill payments, and more. 21/03/2022