Funding
Ramp's Valuation Increases to $60 Billion
Fintech company Ramp has raised $1.85 billion in new funding, bringing its total valuation to $60 billion. The company's annualized revenue has grown to $2 billion, up from $1.5 billion in June. Ramp plans to use the capital to expand its AI-powered financial tools, hire more staff, and potentially pursue acquisitions. Co-CEO Eric Glyman stated that the funding brings the company closer to its IPO goals, though no timeline for an IPO has been announced.