Exclusive: Fintech startup Ramp hits $1 billion in annualized revenue after notching $22.5 billion valuation

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Ramp ended its red-hot summer with one more coup. The six-year-old fintech startup hit $1 billion in annualized revenue as of the end of August, according to a person familiar with the company’s finances—a figure that looks less shocking next to the whopping $22.5 billion valuation it notched in July in an Iconiq-led funding round. 

Ramp has been on the kind of tear usually reserved for AI startups, which the company is starting to resemble. Eric Glyman and Karim Atiyeh founded the company in 2019 to upend the corporate

While Brex and Ramp spent the frothy days of the pandemic in close competition—the Lyft and Uber of corporate cards—Ramp has pulled away in recent years due to its push into other CFO-suite products, including expense management and travel, as well as its near-omnipresent branding. (That has included a Super Bowl spot featuring All-Pro Philadelphia Eagles running back and Ramp investor Saquon Barkley, as well as the blaring chyron sponsorship of tech podcast TBPN.)

Ramp’s dominance was driven home

Ramp’s rapid growth, as evidenced

Whether the company can continue to expand beyond the lower-margin arena of

Figma earnings… Figma CEO Dylan Field spoke to Fortune about AI and the future of design as the design software company reported its first earnings as a public company. Read the whole story here. 

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