Corporate card and spend management software provider Ramp more than doubled its valuation to $3.9bn through a series C round featuring Stripe.
Ramp, the US-based provider of a corporate card for managing spending, collected $300m of series C funding from investors including payment technology provider Stripe yesterday at a $3.9bn valuation.
Venture capital firm Founders Fund led the round, investing with Redpoint Ventures, Thrive Capital, D1 Capital Partners, Spark Capital, Coatue Management, Iconiq Capital, Altimeter Capital, Vista Equity Partners’ Vista Public Strategies unit, Lux Capital, A* Partners, Definition Capital, Honeycomb and Kinetic Ventures.
Ramp operates a spend management software platform and provides corporate cards designed to help businesses to save time and money.
The company claims more than 2,000 businesses in the US are using its platform to manage their spending. The capital injection will speed up the development of a finance automation platform intended to help businesses increase financial efficiency.
Alongside the series C round, Ramp announced the acquisition of US-based digital negotiation service provider Buyer for an unspecified amount. The…
