Ramp Achieves $13 Billion Valuation in Recent Share Sale

Ramp, a New York-based corporate payments startup, has nearly doubled its valuation to $13 billion, marking a significant rebound in the fintech sector. This valuation increase occurred during a share sale involving major investors like Singapore’s GIC, Stripes, and venture capitalists including Thrive, Khosla Ventures, and General Catalyst. Ramp’s growth has been driven by an increase in card transactions and bill payments, along with its extensive integration of AI technology. Despite the broader fintech volatility, Ramp has managed to thrive, showing substantial increases in both annualized revenue and payment processing volumes. The company aims to expand beyond simple payments to become a comprehensive service platform for corporate clients.

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