Ramp, a spend management startup, has successfully closed a $150 million Series D extension, bringing its valuation to $7.65 billion. Despite the challenges posed by the fintech downturn, Ramp has seen significant growth, tripling its revenue run rate from March 2022 to summer 2023 and expanding its team to 730 employees. The funding will enhance innovation, mainly leveraging AI capabilities to automate processes and provide deeper spending insights. The achievement reflects positive momentum in fintech funding, with high-quality companies securing funding at increasingly higher valuations.
Fintech Nexus Newsletter (April 18, 2024): Ramp closes $150m funding round
