Jewish billionaire Joshua Kushner’s Thrive Capital has co-led a $1.85 billion investment in Ramp, a company that helps businesses manage credit cards, pay bills and control spending.
The deal values Ramp at $60 billion, up from $44 billion in June. That’s a $16 billion jump in roughly four months.
More than 85,000 businesses, including Uber, Shopify and Visa, use Ramp. The company says it handles spending at a pace exceeding $275 billion a year and is expanding AI tools to automate financial work.
Dragoneer led the investment alongside Thrive and other firms. The $1.85 billion is their combined investment; Thrive’s individual contribution wasn’t disclosed.