Fintech Startup Ramp Nearly Doubles Valuation to $13B in Secondary Share Sale
Ramp, an expense management startup, has nearly doubled its valuation to $13 billion after a $150 million secondary share sale, according to the company. New and existing backers, including VC firms and GIC, purchased the secondaries from employees and early investors. The company's revenue growth has been significant, with the payment volume across card transactions and bill payments spiking to $55 billion.
- Ramp's growth story is increasingly being seen as a key factor in its valuation, but it remains to be seen whether the company can sustain this pace of expansion.
- How will Ramp's focus on technology and innovation continue to drive growth and differentiate it from competitors in the expense management space?