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Ramp

Time is money. Save both.

New York, NY

Founded 2019

Asset type

Late-stage company

Industry

FinTech

Company size

501-1000

Funds

Profiles

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Ramp provides easy-to-use corporate cards, bill payments, accounting, and other tools to enable finance teams. All in one place. Ramp makes it simple for employees to do expenses while increasing visibility and reducing spend for companies.

About Ramp

Forbes / Ramp CEO Interview

Why we invested

Excellent product with world class product velocity and pace of execution
Best in class growth and efficiency
Ramp is addressing a large, established market with a novel approach that’s resonating with customers and creating a new basis of competitive differentiation
Ramp’s position within the CFO suite provides a great platform to layer on additional AI automation to accelerate or eliminate manual processes

Investment overview

Discover insightful details about this investment, including its history, growth potential, and funding details.

Last funding date: Jul 30, 2025
Valuation at last funding: $22.5B
Total funding amount: >$2.5B

Ramp offers corporate cards paired with a suite of software / AI products that help CFOs and finance teams run their businesses more efficiently. The Ramp platform significantly reduces the tedium of expense reporting for employees while also giving CFOs and finance teams greater control and visibility into spend. The net result is faster expense reporting for employees, less time spent closing the books for finance teams, and the elimination of unnecessary expenses for companies.

Unlike traditional corporate card providers who profit when businesses overspend, Ramp positions their product to help companies spend less not more. This novel approach, coupled with best in class software and AI capabilities, has allowed Ramp to become one of the fastest growing Fintech companies of all time. Ramp now serves more than 40,000 customers including CBRE, Shopify, Anduril, Notion, and Cursor.

Fundrise is a proud Ramp customer with dozens of enthusiastic product advocates across the organization. We’ve been very impressed with the pace and quality of the new features / products they’ve released. Both as an investor and a customer, we’re excited to see what Ramp builds next.

Updates

Innovation Fund companies take the top 6 spots on the Forbes Cloud 100

OpenAI, Anthropic, Stripe, Databricks, Canva, and Ramp lead the future of cloud—and the Innovation Fund is along for the ride.

View update

Ramp raises $500 million at $22.5 billion valuation

As CEO Eric Glyman puts it: the company raised another $500 million "to pick up the pace" in redefining financial operations through AI.

View update

Associated fund

Innovation Fund

Open Venture

Our Innovation fund is designed to deliver long-term growth from a diversified portfolio of technology companies. The fund is focused on investing in potentially high-growth private technology businesses. The Innovation fund takes a “multi-stage” approach, investing across the lifecycle of a private company – from early to late stage and continuing to hold after any potential IPOs. The fund invests across thematic sectors including artificial intelligence (AI) and machine learning (ML), data infrastructure, vertical and horizontal software, and other categories with attractive long-term growth potential.

ObjectiveAppreciation

Net asset value$361M

Inception dateJul 2022

An investment in the Fund is subject to, among others, the following risks:

Shares are not listed on any securities exchange and it is not anticipated that a secondary market for Shares will develop. Shares are subject to substantial restrictions on transferability and resale and may not be transferred or resold except as permitted under the Fund’s Limited Liability Company Agreement (the “LLC Agreement”). Although the Fund may offer to repurchase Shares from time to time, Shares will not be redeemable at a Shareholder’s option nor will they be exchangeable for Shares or shares of any other fund. As a result, an investor may not be able to sell or otherwise liquidate his or her Shares. Shares are appropriate only for those investors who can tolerate a high degree of risk and do not require a liquid investment and for whom an investment in the Fund does not constitute a complete investment program.
If a Shareholder is able to sell its Shares outside the repurchase process, the Shareholder likely will receive less than the then-current NAV per Share.
There is no assurance that distributions paid by the Fund will be maintained at a certain level or that dividends will be paid at all.
The Fund’s distributions may be funded from unlimited amounts of offering proceeds or borrowings, which may constitute a return of capital and reduce the amount of capital available to the Fund for investment. Any capital returned to Shareholders through distributions will be distributed after payment of fees and expenses.
A return of capital to Shareholders is a return of a portion of their original investment in the Fund, thereby reducing the tax basis of their investment. As a result of such reduction in tax basis, Shareholders may be subject to tax in connection with the sale of Shares, even if such Shares are sold at a loss relative to the Shareholder’s original investment.

Investing in Shares is speculative and involves substantial risks. You should purchase Shares of the Fund only if you can afford a complete loss of your investment.

Past performance does not guarantee future results. Current and future holdings are subject to risk. Returns of one company are not indicative of an investment in the fund. To obtain fund performance click here. The fund's most recent schedule of investments is available here.

Investors should consider the Fund’s investment objectives, risks, charges, and expenses before investing. This information is included in the Fund Prospectus and can be accessed by calling (202) 804-0023. Read the prospectus carefully before investing.

Fundrise Innovation Fund is the marketing name for Fundrise Growth Tech Fund, LLC. The Innovation Fund is publicly registered under the Investment Company Act of 1940 as a non-diversified, closed-end management investment company that is operated as a “tender offer” fund.

The Fund’s portfolio will be concentrated in securities issued by technology companies and other investments that provide economic exposure to technology companies and as such, it may be subject to more risks than if it were broadly diversified across additional sectors and industries of the economy. Certain technology companies may face special risks that their products or services may not prove to be commercially successful. Technology companies are also strongly affected by worldwide scientific or technological developments, and as a result, their products may rapidly become obsolete. The Fund’s investments in companies involved in, or exposed to, artificial intelligence-related businesses may be negatively impacted because of, among other things, limited product lines, markets, financial resources and/or personnel; intense competition and potentially rapid product obsolescence these companies may face; loss or impairment of intellectual property rights; and the inability to successfully develop products or services even after spending significant amount of resources.

The Fund’s investment in private company securities, whether made directly or indirectly (e.g., through derivatives or private pooled investment vehicles) are generally illiquid. Because private company securities are thinly traded, such securities may display especially volatile or erratic price movements, sometimes in response to relatively small changes in investor supply or demand or other market conditions.

The originating advertising material was sponsored and paid for by the Fundrise Innovation Fund, LLC. The originating advertising material is a paid endorsement. Nothing in the advertising material should be construed as tax advice, an offer, recommendation, or solicitation to buy or sell any security. All investing includes risk, including the possible loss of money you invest, and past performance does not guarantee future performance. Carefully consider the investment objectives, risks, charges and expenses of the Fundrise Innovation Fund, LLC before investing.

Foreside Fund Services, LLC, distributor.

Fundrise, LLC (“Fundrise“) operates a website at fundrise.com and certain mobile apps (the “Platform“). By using the Platform, you accept our Terms of Service and Privacy Policy. All images and return and projection figures shown are for illustrative purposes only, may assume additional investments over time, and are not actual Fundrise customer or model returns or projections. Past performance is no guarantee of future results. Any historical returns, expected returns, or probability projections may not reflect actual future performance. All securities involve risk and may result in partial or total loss. While the data we use from third parties is believed to be reliable, we cannot ensure the accuracy or completeness of data provided by investors or other third parties. Neither Fundrise nor any of its affiliates provide tax advice and do not represent in any manner that the outcomes described herein will result in any particular tax consequence. Prospective investors should confer with their personal tax advisors regarding the tax consequences based on their particular circumstances. Neither Fundrise nor any of its affiliates assume responsibility for the tax consequences for any investor of any investment. Full Disclosure

The publicly filed offering circulars of the issuers sponsored by Rise Companies Corp., not all of which may be currently qualified by the Securities and Exchange Commission, may be found at fundrise.com/oc. For investors and potential investors who are residents of the State of Washington, please send all correspondence, including any questions or comments, to washingtonstate@fundrise.com.

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