This morning, Ramp, which provides corporate cards and spend management software, announced that it has closed $115 million across two investments, the latter of which valued the company at $1.6 billion.
The Information first reported that Ramp was raising new capital. TechCrunch confirmed the news prior to the company’s announcement earlier today. Ramp raised the capital in two tranches, the first of which, a $65 million investment led by D1 Capital Partners, valued the startup at $1.1 billion. A $50 million investment led by Stripe, the online payments giant, pushed its valuation to $1.6 billion.
On a call with TechCrunch, Ramp CEO and co-founder Eric Glyman was demure about the valuation differential between the two investments, only noting that different investing groups can have different