A US based corporate credit card Startup, Ramp, has become a unicorn after just two years.
In Brief:
It has raised $115mn Series Bfunding from D1 Capital Partners, Stripe and others.
This brings its total raised to $320mn and puts its valuation at $1.6bn.
Ramp offers cards that include analytics to help companies understand and manage spend.
What does this mean?
Ramp has seen its transaction volume grow by approximately 400% in the past six months and is “nearing an annualised transaction rate of $1bn”, says Co-Founder and CEO Eric Glyman. He added in the company’s blog that the Ramp Team plan to “expand our efforts to bring the value of Ramp to more places and to transform the way companies do business”.
