Ramp, a finance automation platform and the first corporate card designed to help businesses spend less, has secured USD750 million in new financing, bringing its valuation to USD8.1 billion.
The raise included USD200 million in fresh equity funding led by Founders Fund, with participation from all major existing investors including D1 Capital Partners, Thrive Capital, Redpoint Ventures, Coatue Management, Iconiq, Altimeter, Stripe, Lux Capital, Vista Public Strategies, Spark Capital, and Definition Capital.
Ramp also secured USD550 million in debt financing to support the company’s rapid scaling, including USD300 million from Citi and an additional USD150 million from Goldman Sachs, which doubled its commitment to USD300 million.
Read more: Private Equity Wire
