Tue Mar 04 07:40:00 UTC 2025: ## FinTech Startup Ramp’s Valuation Soars to $13 Billion in Secondary Share Sale
**NEW YORK** – Financial technology startup Ramp has experienced a significant valuation boost, reaching $13 billion in a new secondary share sale. The New York-based company announced a $150 million deal on Monday, allowing some employees and early investors to cash out their shares. This represents a substantial rebound from its low point of $5.8 billion earlier this year and surpasses its previous peak valuation of $8.1 billion in 2022.
The investment round involved prominent venture capital firms including Khosla Ventures, Thrive Capital, and General Catalyst. The deal highlights a renewed investor confidence in high-growth startups, even amidst rising interest rates. This follows a similar trend seen in other private companies like Stripe and DataBricks, which have recently conducted secondary offerings allowing employee share sales.
Ramp, which uses AI to automate expense management and accounting, offers credit cards and competes with companies like Brex, American Express, and Concur. CEO Eric Glyman stated that Ramp’s core value proposition of helping businesses reduce overhead expenses has become increasingly vital in the current economic climate. The company boasts 30,000 business clients, including notable names such as Anduril, Barry’s, and Poshmark.
Ramp’s transaction volume has grown dramatically, exceeding $55 billion annually, a considerable increase from $10 billion in January 2023. The company generates revenue through credit card interchange fees and software subscriptions. While an IPO is a future possibility, Glyman stated there is no immediate timeline, noting the company’s significantly reduced cash burn rate of under $2 million per month. Ramp plans to focus on expanding its enterprise clientele.
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