Ramp Announces $300 Million Funding at $5.8 Billion Valuation

Ramp announced $300 million in new funding at a post-money valuation of $5.8 billion in August 2023. The company operates a corporate card and spend management platform that leverages embedded finance to deliver integrated financial products to businesses. Ramp's platform combines corporate cards, expense management, bill payments, and accounting integrations, representing a comprehensive embedded finance solution for enterprises and SMEs.

The significant funding round at a multi-billion dollar valuation highlights continued investor appetite for embedded B2B financial products. Ramp's model relies on banking-as-a-service partnerships to issue cards and facilitate payments. The $300 million raise positions Ramp to further expand its product suite and customer base.

Financial terms regarding specific investors in this round were not detailed in the available reporting. The funding makes Ramp one of the most well-capitalized players in the embedded corporate finance space.