8:25 PMPYMNTS
Ramp Valued at $60 Billion Following New Funding Round
Summary
Ramp reportedly raised $1.85 billion in a new funding round, valuing the spend management platform at $60 billion before the new capital is included. The valuation was reported based on sources familiar with the deal.
The financing gives Ramp substantially more private-market value and capital to expand its corporate payments
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Ramp's valuation signals that investors still see major upside in software-led platforms that control corporate spending and payments.