Rampf fintech valued at $60B
Ramp, a startup in the fintech industry, is valued at approximately $60 billion after raising $1.85 billion in its latest funding round led by Dragoneer Group and Thrive Capital. Founded in 2019 in New York, the company offers a variety of financial products for businesses, including expense reporting, payment processing, and AI-powered fraud detection. It now serves 70,000 companies, up from 50,000 at the beginning of the year, and generates over $1.5 billion in annual revenue. The company is working to expand AI applications, including developing tools for task guidance and training custom AI models, amidst strong competition, as evidenced by the sale of Brex for $5.15 billion.
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