Fintech startup Ramp nearly doubles valuation to $13B in secondary share sale

Expense management startup Ramp has nearly doubled its valuation to $13 billion after a $150 million secondary share sale, the company announced Monday morning. New and existing backers including VC Stripes, GIC, Avenir Growth, Thrive Capital, Khosla Ventures, General Catalyst, Lux Capital, 137 Ventures and Definition Capital bought the secondaries from employees and early investors. It’s a massive bump in valuation for fintech startup Ramp, which was valued at $7.65 billion last April when it raised $150 million in a Series D extension co-led by Khosla Ventures and Founders Fund. With that raise, Ramp had secured $1.2 billion in equity financing and $700 million in committed debt funding since its 2019 inception. At that time, Ramp co-founder and CEO told TechCrunch that Ramp counted over 25,000 companies across a variety of industries as customers including Anthropic, Arm, Robinhood, ServiceTitan, Sonos and Wiz. Today, Glyman said that Ramp has grown to over 30,000 customers and ... Read full article.