Payments startup Ramp valued at $8.1 billion in latest funding round

Payments startup Ramp valued at $8.1 billion in latest funding round

Bloomberg: Ramp, a startup that offers corporate cards and other finance tools to businesses, raised $750 million in a funding round that valued the fintech at $8.1 billion.

An equity raise led by Founders Fund generated $200 million from existing investors and new ones including General Catalyst and Avenir Growth Capital, Ramp said. An additional $550 million in debt financing came from firms including Citigroup Inc. and Goldman Sachs Group Inc.

Founded in 2019, Ramp has been building its finance platform for businesses, including a corporate card that tracks employees’ expenses and a bill-pay service that’s its fastest-growing product.