US EditionPeter Thiel-backed fintech Ramp nearly doubles valuation to $13bn
- Ramp is now valued at $13 billion after investors purchased $150 million in secondary shares from employees and early investors, marking a significant increase from its earlier valuation of $5.8 billion in 2023.
- Ramp supports over 30,000 customers and has helped them save $2 billion and 20 million hours, according to Co-founder and CEO Eric Glyman.
- Ramp now processes over $55 billion in annualized payment volume, up from $10 billion in January 2023, as stated by Eric Glyman, CEO of Ramp.
- The valuation reflects renewed investor interest in high-growth startups, despite a challenging economic environment, according to market analysis.
11 Articles
11 Articles
Ramp finalises secondary share sale at $13bn valuation
Ramp has secured $150m through a secondary share sale, which valued the US financial operations platform at $13bn. The sale saw the participation of new and previous backers such as Stripes, GIC, Avenir Growth, Thrive Capital, Khosla Ventures, General Catalyst, Lux Capital, 137 Ventures, and Definition Capital. They bought Ramp secondaries from employees as well as early investors. Ramp claims to have saved its customers over $2bn and 20 m…
Ramp Valued at $13 Billion in Secondary Share Sale
Financial operations platform Ramp said in a Monday (March 3) press release that the company was valued at $13 billion when new and existing investors purchased Ramp secondaries from employees and investors. Ramp was valued at $7.6 billion in April when it wound down a $150 million Series D-2 funding round. The company said in its Monday press release that the annualized payment volume it powers across card transactions and bill payments rose fr…
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