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Fintech startup Ramp raises $300M at a 28% lower valuation of $5.8B

August 22, 2023

Fintech startup Ramp has raised $300 million in a funding round co-led by existing backer Thrive Capital and new investor Sands Capital at a post-money valuation of $5.8 billion.

The Information reported last week that spend management company Ramp was raising “several hundred million dollars” at a $5.5 billion valuation. Ramp last raised in March 2022 — raising $200 million in equity funding at an $8.1 billion valuation. In total, the company has secured $970 million in equity financing and $700 million in committed debt funding since its 2019 inception.

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