The expense management platform developer more than doubled its valuation to $8.1bn in a Stripe-backed round consisting of $200m in equity funding and $550m in debt financing.

Ramp, a US-based provider of a corporate card for controlling spending, raised $750m yesterday in debt and equity financing from investors including digital payment technology provider Stripe, valuing it at $8.1bn.

Founders Fund led the $200m equity portion of round, which included Thrive Capital, Redpoint Ventures, D1 Capital Partners, Spark Capital, Coatue Management, Iconiq Capital, Altimeter Capital, Lux Capital, Vista Public Strategies, Definition Capital, Avenir Growth Capital, 137 Ventures, Declaration Partners, General Catalyst and unnamed individuals.

The company also obtained…

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Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.