Ramp (financial technology company)

Established in 2019, Ramp is a New York-based company developing finance automation platform in New York. The company offers 5-in-1 software consolidating corporate cards, expense management, bill payments, accounting, and reporting. Some of theirits clients include RoRo, DoNotPay, BetterBetter Food Ventures, ClickUp, Applied Intuition, Bristol HospiceBristol Hospice, Walther Farms, Douglas Elliman, and Planned ParenthoodPlanned Parenthood. In 2021, the company achieved a unicorn valuation of $3.9 billion and has raised $620 million in funding from investors like Founders Fund, Stripe, Goldman Sachs, Coatue ManagementCoatue Management, D1 Capital PartnersD1 Capital Partners, Redpoint VentureRedpoint Venture, Thrive Capital, Altimeter, IconiqIconiq, Spark Capital, the Box GroupBox Group, and different angel investors.

The company offers smart virtual cards and physical cards alongside spend management software. Users can spin up virtual cards for different online purchases—down from software subscriptions to home office equipment. The cards have built-in controls for security, and there are no foreign transaction fees. Users can also customize the look and feel of the cards with branding and a company logo. Users can also tap to pay with Apple and Google PayGoogle Pay. Contactless payments are also accepted at some retailers across the world.

The company allows users to automate their accounting with direct integrations, auto-categorization, and real-time sync for different transactions. Users can code expenses with integrations for QuickBooksQuickBooks, Xero, Sage, and NetSuite. They also have the ability to export transactions in CSV format for other software providers. Users can import their chart of accounts and create mapping rules for accounting fields—from merchant to department. Then, Ramp automatically categorizes and syncs transactions to their GLgeneral ledger.

Ramp helps companies streamline bill payments with automatic bill creation, approvals, and accounting. With AI-powered invoice processing, users can forward invoices by email or drag-and-drop PDFs for bill creation. The software’s OCR automatically detects vendors, line items, and payment details. Users can create a review and approval process for different bills. Users also get 1.5% cashback when they pay bills with their Ramp card. There's is also the option to pay by check or ACH to vendors that do not take credit cards.