“Product Hunt is where we first launched just 1.5 years ago,” wrote Eric Glyman, Co-Founder and CEO of Ramp, in yesterday’s launch of Ramp 2.0. The company also announced it raised $300M at a $3.9B valuation.
In its original launch, Ramp’s product was its free corporate card. Its north star has been to help businesses spend less through unlimited cards, 1.5% cash-back on everything, and insights to reduce wasteful spending. New features like merchant blocking have been added at the request of users.
The response has been good. Ramp reported a 5x increase in cardholders since the beginning of 2021 and a 1,000% increase year over year in transactions.
With Ramp 2.0, its hero product still stands, but it wants you to know: It’s not just a corporate card. It’s a finance automation platform.
"[W]ith Ramp, you’ll get corporate cards and payments with built-in expense and accounting automation software, all in one well designed, easy-to-use, and free solution,” Glyman explained. As the launch meme puts it, finance teams can make siloed finance tools disappear with a Thanos finger snap.
Ramp 2.0 adds negotiation-as-a-service for software procurement into its platform, too. That was part 3 of its announcement yesterday tied to its positioning — the company acquired Buyer, a startup we watched launch on Product Hunt just one year ago.
In most articles about Ramp, you’ll find a reference to its competitor Brex. As both grow, the differences between the company’s strategies diverge. Brex announced a $475M raise at a $7.4B valuation in April, as well as its first paid tier. It made its first acquisition too — a startup called Weav with a universal API for commerce platforms. Signs point to Ramp serving larger companies, and Brex focusing on small businesses.
Fin-techies are wondering if Ramp will continue to ride its free model to exit, or introduce paid features into its growing software functions to morph into a freemium model.
You can click through to check it out now, while we know it’s still free.
Lightboxes are a handy tool that professionals use for tracing. They push light through a table or box to help you trace. This new Lumo app is an extension of that same idea.
The app guides you through tracing real pictures from your iPad to paper while following an audio story, making you an active part of the storytelling.
Anvil’s PDF generation API is perfect for invoices, custom agreements, or just adding your branding to a PDF. Create pixel-perfect and variable-length PDFs with custom HTML and CSS, or use the expanded Markdown syntax to start generating quickly.
The PDF generation API is part of Anvil’s comprehensive paperwork solution. Combine your custom PDFs with our Etch e-signatures and build logic-fueled workflows - all in the Anvil document platform.
