Ramp, a fintech startup that offers corporate cards and software for managing employee expenses, raised $115 million in a funding round led by digital payments giant Stripe and D1 Capital Partners, valuing it at $1.6 billion.
Foundd in 2019 by Eric Glyman, Gene Lee and Karim Atiyeh, New York-based startup competes with the likes of American Express, new-age fintech startups such as Brex and older expense management software makers like Expensify and SAP Concur. Ramp said it would use the fresh capital to hire more and boost its marketing efforts, partnerships and product development.
