- Ramp raises $150m through a secondary share sale
- New funding values the company at $13bn
What happened: Ramp expands with $150m secondary share sale
Ramp, a financial operations platform, has secured $150m in a secondary share sale. This transaction, backed by investors including Stripes, GIC, and Thrive Capital, values Ramp at approximately $13bn.
Founded in 2019, Ramp provides an all-in-one financial management platform for businesses. Its services include corporate cards, expense tracking, bill payments, procurement, and treasury solutions. The platform has attracted over 30,000 businesses, reflecting its growing market presence. With this latest investment, Ramp plans to enhance its artificial intelligence capabilities. It aims to automate more financial processes, improving efficiency for users. Over the past year, the company introduced new products such as Ramp Procurement, Ramp Travel, and Ramp Treasury. It also launched the Ramp App Center, which now features more than 200 integrations with over 75 technology partners.
Ramp’s premium software tier, Ramp Plus, has seen 30% adoption among new users. The company now processes over $55bn in annual payment volume, covering both card transactions and bill payments.
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Why it’s important
Ramp’s expansion highlights the increasing demand for AI-driven financial management solutions. By integrating automation, Ramp helps businesses streamline financial processes, reducing inefficiencies. Its services cover a broad range of financial operations, offering a centralised platform for corporate finance management.
The company’s $13bn valuation reflects strong investor confidence in its business model. The secondary share sale allows existing shareholders to realise returns, while new investments support future growth. Ramp’s AI-focused strategy positions it within a competitive market, where automation plays a key role in shaping financial operations.
With over $55bn in annual payment volume, Ramp continues to expand its market reach. Its focus on product innovation ensures its customers benefit from evolving financial technologies.
