Ramp Business Corporation
Company typePrivate
IndustryFinancial technology
FoundedMarch 2019; 4 years ago (March 2019)
FoundersEric Glyman (CEO)
Karim Atiyeh (CTO)
Gene Lee
HeadquartersNew York City, New York, United States
ProductsCorporate expense management platform, corporate credit cards
Number of employees
600 (2023)[1]
Websiteramp.com

Ramp is a U.S.-based financial technology company that offers corporate cards, expense management, and bill payment software.[2] As of late 2023, the company was projected to process over $13 billion in payments annually.[3]

As of August 2023, Ramp was valued at $5.8 billion, down from a high of $8.1 billion. Investors in the company include Thrive Capital, Goldman Sachs, and Redpoint Ventures, among others.[4]

The company's headquarters are in the Flatiron District of Manhattan, New York City.[5]

History

Ramp was founded in March 2019 by Eric Glyman, Karim Atiyeh, and Gene Lee. Glyman and Atiyeh met as classmates at Harvard University and had previously founded price tracking app Paribus, which was acquired by Capital One in 2016.[6]

Glyman and Atiyeh talked with approximately 100 finance experts before launching Ramp's corporate card, finding that potential clients were unhappy with the inefficiency of existing methods for collecting receipts and logging expenses.[7]

The company was formally launched in February 2020[8] and reached $100 million in annualized revenue by early 2022.[2]

References

  1. ^ "About Us - Different By Design". Ramp. Retrieved 2023-12-28.
  2. ^ a b "CNBC Disruptor 50 — 29. Ramp". CNBC. 9 May 2023. Retrieved 11 October 2023.
  3. ^ Clark, Kate (17 August 2023). "Ramp's Down Round and Why Startups Should Let Employees Cash Out". The Information. Retrieved 11 October 2023.
  4. ^ Biswas, Pritam (22 August 2023). "Fintech firm Ramp raises $300 mln at lowered valuation of $5.8 bln". Reuters. Retrieved 11 October 2023.
  5. ^ Nehrign, Abigail (27 September 2023). "Fintech Startup Ramp Doubles Footprint With Move to 28-40 West 23rd Street". Commercial Observer. Retrieved 11 October 2023.
  6. ^ Li, Steven. "They Built Ramp Into An $8 Billion Company In Under 3 Years: The Inside Story Of How They Did It". Forbes. Retrieved 2023-12-29.
  7. ^ "How Ramp's Eric Glyman went from "a sheet of paper" to a 13,000+ customer fintech business in less than four years (Cornell Tech @ Bloomberg) | Bloomberg". Bloomberg L.P. 2023-05-30. Retrieved 2023-12-29.
  8. ^ Son, Hugh (24 August 2021). "Corporate card start-up Ramp more than doubles valuation in five months to $3.9 billion". CNBC. Retrieved 11 October 2023.
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