Peter Thiel, Goldman, Citi invest in finance automation company Ramp

Dow Jones2022-03-21

MW Peter Thiel, Goldman, Citi invest in finance automation company Ramp

Ramp Business Corp. said Monday it raised $750 million from private investors in a deal that values the New York-based financial technology and finance automation company at $8.1 billion. Founders Fund, the investment firm backed by billionaire Peter Thiel, led the round, with participation from several existing investors including D1 Capital Partners, Thrive Capital, Redpoint Ventures, Coatue Management, Iconiq, Altimeter, Stripe, Lux Capital, Vista Public Strategies, Spark Capital, and Definition Capital. New investors that took part included General Catalyst, Avenir Growth Capital, 137 Ventures, and Declaration Partners. Ramp also announced $550 million in debt financing including $300 million from $Citigroup Inc(C-N)$. $(C)$ and an additional $150 million from Goldman Sachs Group Inc. $(GS)$, which had already committed $150 million.

-Steve Gelsi

$(END)$ Dow Jones Newswires

March 21, 2022 08:21 ET (12:21 GMT)

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MinkyHuat
2022-03-29
MinkyHuat
Hopefully up soon
wyyw
2022-03-21
wyyw
Gogogo

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Founders Fund, the investment firm backed by billionaire Peter Thiel, led the round, with participation from several existing investors including D1 Capital Partners, Thrive Capital, Redpoint Ventures, Coatue Management, Iconiq, Altimeter, Stripe, Lux Capital, <a href=\"https://laohu8.com/S/VGL.AU\">Vista</a> Public Strategies, Spark Capital, and Definition Capital. New investors that took part included General Catalyst, Avenir Growth Capital, 137 Ventures, and Declaration Partners. 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