Finance automation platform, Ramp, announced that it has raised $300m in Series D in an effort to expand into new areas and further develop its FinTech product.
In brief:
-The funding round was led by Thrive Capital and Sands Capital with additional support from General Catalyst, Founders Fund, and other existing investors, according to the New York-based FinTech.
-Ramp operates a finance automation platform that offers businesses a one-stop-shop for expense and accounting automation software.
-Ramp last raised $300m in Series C funding in August 2021, almost two years to date. At the time, the fintech was valued at $3.9bn.
What does this mean?
“I couldn’t be more proud of our performance since our last raise. We’ve grown our customer base by 4X and annual purchase volume by over 6X.,” Eric Glyman, co-founder and chief executive said on LinkedIn, “Ramp launched our first product 3.5 years ago – we’ve already crossed $300M in annualized revenue.”
