Ramp Reaches $13 Billion Valuation in Secondary Share Sale

The fintech startup nearly doubles its valuation as employees and early investors sell shares to prominent backers.

Ramp's valuation surged to $13 billion in a $150 million secondary share sale involving investors like Khosla Ventures, Thrive Capital, and General Catalyst.
The company has seen rapid growth, increasing annualized payment volume from $10 billion in January 2023 to $55 billion today and expanding its customer base to over 30,000 businesses.
Ramp has diversified its offerings since its 2019 launch, adding products such as Ramp Procurement, Ramp Travel, and Ramp Treasury, which allows businesses to earn higher yields on operating cash.
The fintech startup is leveraging AI to optimize financial operations, reduce inefficiencies, and improve profitability for its customers.
While Ramp has no immediate plans for an IPO, its CEO notes that the company is focused on long-term growth and enterprise expansion.