FinTech news in Ramp category

During one of the most rapid raises of interest rates we’ve really seen in U.S. history and with the cost of capital gone up, companies realized they need to make the most of every dollar,” he said

The corporate spend startup launched its bill pay feature in October of 2021, building upon its corporate card business and accounting software product. If the business pays back the money within 30 days and did not use their card, Ramp won’t actually make any money off it using the bill pay feature.

While Glyman did not reveal hard revenue figures, he did point out that the company had crossed $100 million in annualized revenue before its third birthday in March.

Tactic's software, Jaskiw said, helps companies automatically categorize transactions and apply accounting logic such as calculating $USD gain/loss and taxable events. Tactic, she said, has partnered with accounting firms to help interpret accounting guidelines for DeFi-specific activities such as staking, NFT minting and airdrops.

Earlier this month, Ramp also announced a partnership with Amazon for Business, in which customers can connect their Amazon Business account to Ramp and then anytime an employee uses one of its cards to make a purchase, Ramp automatically pulls the receipt. Notably, Ramp is college friends Glyman and Atiyeh’s second venture in the spend management industry following the sale of online price tracker Paribus to Capital One in 2016.

Multiple players have emerged with various solutions — from software to corporate cards — to help businesses of all types and sizes better manage their expenses and save money and time while doing it.

With Pluto, he said, businesses can control spend before it even happens, by creating unlimited virtual and physical cards with spend controls that can be connected to existing business bank accounts and category restrictions.