Ramp Raises $1.85 Billion, Boosting Its Valuation to $60 Billion in 4 Months

Bloomberg reported, in news relayed by the Dealroom platform, that Ramp, a company specializing in corporate expense management and cards, raised approximately $1.85 billion at a pre-money valuation close to $60 billion. The platform noted that Ramp has not yet commented on the round.

The round was led by Dragoneer Investment Group and Thrive Capital, while Founders Fund wrote a large check in the deal, according to the same source, indicating strong appetite from major investors for the company.

The round comes just four months after a previous round in which the company raised $750 million at a $44 billion valuation, meaning its valuation increased by about $16 billion in this short timeframe.

This coincides with a shift in the sector's landscape, as competitor Brex sold itself to Capital One for $5.15 billion earlier this year, making Ramp's round an indicator of significant valuation disparities among fintech players.

What Do These Terms Mean?

Pre-money Valuation: The value of the company before the injection of new round funds, excluding the amount raised in the round itself.

Funding Round: A stage in which a startup raises money from investors in exchange for an equity stake.

Venture Capital: Capital invested by specialized funds into high-risk startups in exchange for equity, hoping to sell later at a profit.

Acquisition: The purchase of one company by another, transferring its ownership and management to the buyer.