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Fintech firm Ramp raises US$1.85 billion at US$60 billion valuation

Ramp, a financial technology company offering corporate cards and expense management, has raised US$1.85 billion in a primary financing round that values the firm at US$60 billion. The round was led by Dragoneer Investment Group and co-led by Thrive Capital, Founders Fund, Sands Capital and Avenir G

Fintech firm Ramp raises US$1.85 billion at US$60 billion valuation
Image: Singapore skyline. File photo: Basile Morin / CC BY-SA 4.0 · Wikimedia Commons

Ramp said on Thursday it had raised US$1.85 billion in a primary financing round that valued the financial technology company at US$60 billion. The funding round was led by Dragoneer Investment Group and co-led by Thrive Capital, Founders Fund, Sands Capital and Avenir Growth.

Founded in 2019, Ramp offers corporate cards, payment services and expense management applications. The company serves more than 85,000 companies, which collectively account for over US$275 billion in annualised purchase volume, up 175 per cent from a year earlier.

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