Ramp hits $60bn valuation
Expense management firm Ramp has closed its second major raise in a matter of months, securing $1.85 billion in a primary financing round led by Dragoneer Investment Group that values the company at $60 billion.
Fintech company Ramp has secured $1.85 billion in a primary financing round, bringing its valuation to $60 billion. The round was led by Dragoneer Investment Group and co-led by Thrive Capital, Founders Fund, Sands Capital, and Avenir Growth, according to CNA - Business and Channel News Asia. Finextra noted that this marks the firm's second major raise in a matter of months.
Founded in 2019, Ramp provides expense management applications, payment services, and corporate cards. The company serves more than 85,000 companies with a combined annualized purchase volume exceeding $275 billion, which represents a 175 per cent increase from the previous year, per CNA - Business and Channel News Asia.
Techmeme reports that the company's annualized revenue has reached $2 billion, up from $1.5 billion in June. This recent valuation of $60 billion is an increase from the $44 billion valuation reached after a $750 million raise in June.
Brief written by urgent.news from Finextra, CNA - Business, Channel News Asia, Techmeme — 4 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Fintech firm Ramp raises $1.85 billion at $60 billion valuation channelnewsasia.com
