How a Union Square corporate-card startup doubled its value to $4B in months

The red-hot market for New York financial-technology startups shows no sign of cooling down.

Ramp, a Union Square startup that offers corporate spending cards, said Tuesday it had raised $300 million in a deal that gave the company a private value of $3.9 billion. The total more than doubles the value Ramp received in a separate funding round just four months ago.

Ramp launched in August 2019 and reports that 2,000 companies are now using its card as their primary spending option. Colin Kennedy, Ramps’s chief business officer, said the startup offers an alternative to the “gamification” of credit cards, referring to the rewards points and cash-back that

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