More positive signs for fintech as spend management unicorn Ramp stängt another large funding round.
The $150 million was officially called a Series D extension, but it comes at a $7.65 billion valuation, a significant improvement over the $300 million raised for the initial Series D, which was at $5.8 billion. They are still below the $8.1 billion valuation from 2022 but are getting closer.
Ramp has continued to grow during the fintech downturn, tripling its revenue run rate from March 2022 to summer 2023. The company now has 730 employees, up from 495 a year ago.
The money will be used to “triple down” on innovation, including using AI capabilities “to automate cumbersome processes, provide deeper insights into spending, enhance decision-making capabilities, and more.”
This is yet another positive sign of the turnaround in fintech funding. Good companies are getting funded at higher valuations than late 2022 or 2023.
Utvalda
> Ramp raises another $150M co-led by Khosla and Founders Fund at a $7.65B valuation
Av Mary Ann Azevedo
Spend management startup Ramp has raised another $150 million at a post-money valuation of $7.65 billion, the company confirmed to TechCrunch today. New investor Khosla Ventures and existing backer Founders Fund co-led the raise, which also included participation from new backers Sequoia Capital, Greylock and 8VC.
Från Fintech Nexus
> Salt Labs lägger till 401(k)-skaparen Ted Benna som rådgivare
Av Tony Zerucha
Salt Labs, som hjälper låginkomsttagare men inte subtraherar från deras inkomster, har rekryterat Ted Benna, fadern till 401(k), som rådgivare.
> Nubank samarbetar med Wise för att ge rika brasilianare ett globalt konto
Av David Feliba
Brazilian neobank Nubank partnered with Wise to launch a global account. The online lender is targeting the highly affluent in Latin America.
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- Källa: https://www.fintechnexus.com/fintech-nexus-newsletter-april-18-2024-ramp-closes-150m-funding-round/