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

Oct 15 : Ramp said on Thursday it had raised $1.85 billion in a primary financing round that valued the financial technology company at $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 $275 billion in annualized purchase volume, up 175 per cent from a year earlier.

Source: Reuters