Ramp, a financial operations platform, has successfully completed its Series E funding round, achieving a valuation of $16bn.
The funding, which reached a total of $200m, was led by Founders Fund, the company’s initial and primary investor.
Other participants in this financing round included Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.
With this latest funding round, Ramp has raised a total of $1.4bn in equity financing to date.
Since its inception in 2019, Ramp is said to facilitate significant savings for its clients, amounting to $10bn.
The platform currently manages more than $80bn in annual purchase volume through card transactions and bill payments.
In March this year, Ramp raised $150m through a secondary share sale,…
