Fintech startup Ramp is raising approximately $1.85 billion in a funding round that values the company at about $60 billion, according to people familiar with the matter cited by Bloomberg and reported by The Next Web. The valuation is described as being “before” the new money from the round is counted.
The outlets’ reporting is aligned on the headline figures and does not include extensive details on the round’s structure beyond the approximate size and valuation. The Next Web adds that Dragoneer Investment Group and Thrive Capital lead the round, and that Founders Fund participates with a large investment, also based on the same category of sources. Bloomberg’s summary is shorter and focuses on the valuation and fundraising amount, without naming additional participants in the excerpt provided.
