‘It’s new branding to what is a very classic industry’: Ramp’s Eric Glyman on B2B BNPL, and how their new offering is different
- What's the secret sauce behind Ramp's doubling valuation and revenue growth amid a fintech downturn?
- Eric Glyman, co-founder and CEO of Ramp, spills the beans on his company strategies and what's in the offing.
Hitting a valuation of $8.1 billion with a $750 million funding round in March 2022, finance automation and corporate card provider Ramp has not only managed to double its revenue run rate amid the prevailing macroeconomic climate, but has also gained traction with its line of products in a trice given it’s been around for just 3 years.
Founded in 2019 by Eric Glyman, Karim Atiyeh, and Gene Lee, Ramp originally catered primarily to SMBs, but now supports entities of all shapes and sizes – private as well as public.
Last month, Ramp added the new Flex offering to its growing product portfolio, which includes expense management, accounting software, and its flagship offering – corporate cards. With Flex, Ramp charges its business customers a small fee to pay their vendors upfront and allow them to pay back the funds in 30, 60, or 90 days. The service ensures that businesses can finance their bills flexibly, and is somewhat like the business equivalent of what BNPL providers such as Klarna and Affirm offer to consumers.
I spoke with Eric Glyman, co-founder and CEO of Ramp, on how the company gained a footing in the financial services industry, why they built Flex and Bill Pay, and where he sees B2B BNPL going – now that they have made their way into the space.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — only $49/mo. Already an Outlier member? Sign in to your account