Ramp
 | It has been suggested that this article be merged into Draft:Ramp (company). (Discuss) Proposed since March 2022. |
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| Private | |
| ISIN | 🆔 |
| Industry | Specialty Finance |
| Founded 📆 | March 18, 2019 |
| Founders 👔 | Eric Glyyman Karim Atiyeh Gene Lee |
| Headquarters 🏙️ | New York City, NY |
Area served 🗺️ | |
Key people | |
| Members | |
Number of employees | |
| 🌐 Website | ramp |
| 📇 Address | |
| 📞 telephone | |
Ramp is an American financial service and technology company based in New York City, New York.[1] Ramp offers business credit cards, expense management, and bill payment tools to technology companies.[2] Ramp issues business charge cards, which require at least $250,000 in a bank account to open, and cardholders who default won't damage their personal credit or assets.[3] Sutton Bank and Celtic Bank both issue Ramp cards.[4]
History[edit]
Ramp was founded by Eric Glyman, Karim Atiyeh, and Gene Lee on March 18, 2019. Glyman and Atiyeh had previously founded online discount tool, Paribus, before selling it to Capital One in 2016 for an unreported sum.[5][6]
In March 2021, ex-Goldman Sachs exec Colin Kennedy left Stripe to join Ramp as Chief Business Officer.[7]
In August 2021, the company acquired Buyer, a negotiation-as-a-service provider.[8]
In October 2021, the company announced the launch of a bill payments tool, causing public competitor Bill.com’s shares to fall 3.6% in the market.[9][10]
In February 2022, the company launched Travel, a platform to let customers control and automate how companies spend money on travel.[11]
Growth[edit]
Ramp is backed by Founders Fund, Stripe, D1 Capital Partners, Kleiner Perkins, Coatue Management, Goldman Sachs, Redpoint Ventures, Spark Capital, Lux Capital, Thrive Capital, and BoxGroup.
| Date | Funding Round | Money Raised | Valuation |
|---|---|---|---|
| Aug 1, 2019 | Seed Round | $8M | N/A |
| Feb 12, 2019 | Series A | $15M | N/A |
| Dec 17, 2020 | Series A-1 | $30M | N/A |
| Feb 10, 2021 | Debt Financing | $150M | N/A |
| Apr 8, 2021 | Series B | $115M | $1.6B |
| Aug 24, 2021 | Series C | $300M | $3.9B |
References[edit]
- ↑ "Ramp (Financial Software) Overview". Pitchbook. Retrieved 7 March 2022.
- ↑ "How Corporate Card Startup Ramp Is Using AI To Save Clients Money?". PaymentsJournal. 2020-12-21. Retrieved 7 March 2022.
- ↑ "Ramp Corporate Card 2022 Review". Forbes. 2021-12-24. Retrieved 1 March 2022.
- ↑ "Ramp Review". Merchant Maverick. 1 December 2021. Retrieved 4 March 2022.
- ↑ Sarah Perez, "Capital One acquires online price tracker Paribus," TechCrunch, October 6, 2016.
- ↑ Antony Peyton, "Capital One buys online price tracker Paribus," Banking Technology, October 10, 2016.
- ↑ "Stripe loses ex–Goldman Sachs exec to corporate card startup". Fortune. 16 March 2021. Retrieved 7 March 2022.
- ↑ "Ramp raises $300M in Series C from Founders Fund, acquires Buyer". SaaS Industry. 2021-10-25. Retrieved 7 March 2022.
- ↑ "Corporate card start-up Ramp targets Bill.com with free payments software". CNBC. 2021-10-26. Retrieved 27 February 2022.
- ↑ "Bill.com stock drops after startup Ramp targets customers with free software". Seeking Alpha. 2021-10-26. Retrieved 28 February 2022.
- ↑ "Ramp expands into travel as the corporate spend category goes horizontal". TechCrunch. 23 February 2022. Retrieved 7 March 2022.
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