Capnamic is a venture capital firm from Berlin/Cologne doing early-stage investments in outstanding teams in Germany/Austria/Switzerland. The team’s expertise includes 70+ investments, 30+ successful trade sales and 13+ IPOs as well as broad professional experience across various industries and functions.  Capnamic unites institutional and corporate investors thus offering its portfolio companies a unique network of sparring partners and customers. The firm’s general partners are Jörg Binnenbrücker, Olaf Jacobi, and Christian Siegele.

Capnamic Ventures

neosfer is the early-stage investor and innovation unit of Commerzbank Group. It investigates future technologies that are relevant to business and society, promotes and develops sustainable, digital solutions, and brings them profitably to the bank and its customers. All of this is done through the three areas of invest, build, connect. It creates access to innovation through strategic venture capital (invest), in-house development of technologies and business models (build), and building ecosystems around the sustainable and digital future of society (connect).  With a portfolio of more than 30 digital and sustainable startups, neosfer has always kept its eyes on the future and is continuously developing. Some successful prototypes have already emerged from this and are being used in the Commerzbank Group. These include Lissi, which develops EUDI wallet connectors as part of the eIDAS 2.0 regulation and was the first independent start-up to be founded by neosfer. Through its own events, such as the monthly tech startup event series ''Between the Towers'' and the Impact Festival, the company strengthens its network in the innovation, venture and sustainability sectors.  neosfer GmbH, or neosfer for short, is a wholly owned subsidiary of Commerzbank AG based in Frankfurt am Main.

Neosfer

To submit your pitch please use: https://wenvest.capital/pitch WENVEST Capital primarily invests in B2B SaaS companies. WENVEST Capital does not only provide capital to fuel growth but understands itself as a sparring partner and active investors to support founders and management teams, as required in their growth ambitions. The firms' typical first investment into a company is in the range of EUR 0.5m to EUR 1.0m and mainly in B2B SaaS business models, companies active in the digitazation space, digital health and climate solutions with scaling potential.

WENVEST Capital

HW Capital is an investment firm with a focus on the financial services industry.  Their core activity is to start new financial services businesses by bringing together talent, capital and experience.  HW Capital is backed by Robert Haselsteiner and Marcus Wolsdorf, co-founders of Interhyp, Germany’s largest independent mortgage distributor.

HW Capital

Finparx is European FinTech studio in terms of exit proceeds. Three of the four ventures they founded have been sold to leading financial service providers: Payolution was bought by Skrill (now part of Paysafe), PAY.ON has been acquired by ACI Worldwide and Payworks is now part of Visa. They still hold Circula in their portfolio, aTravel Expense Management venture.

Finparx

Storm Ventures is a $600m (TAM) VC firm 100% focused solely on early-stage enterprise investments.  We've been founders ourselves, of enterprise companies including Airespace (acquired by Cisco) and EchoSign (acquired by Adobe).  We've had to go without pay as CEOs ourselves to make payroll.  We've gone from $0 to $100m in ARR and lived all the stages in between.  We've here to help, and add some strategic capital and insights.  And not be in the way when we're not needed.

Storm Ventures

Peak is the early-stage VC fully backed by entrepreneurs. Based in Amsterdam, Berlin and Stockholm, Peak fiercely backs founders across Europe, particularly in the BeNeLux, DACH, and Nordics. Their EUR 66M fund is 100% financed and ran by experienced entrepreneurs - with the scars to prove it. Peak specializes in models, rather than specific industries or verticals. To date, they have more than a decade of experience in scaling marketplace, platform, and SaaS companies - both B2B and B2C - from Seed to Series A and beyond. Get in touch via http://peak.capital/contact

Peak

ALSTIN Capital invests in rapidly growing European technology companies in the sectors FinTech, InsurTech, CyberSecurity, RegTech, and Mobility. Founded in 2011, ALSTIN provides between 1-3 Mio. EUR in Series A and B rounds. They do not solely invest in convincing technology, but above all in the entrepreneurs behind the technology. In addition, they support their entrepreneurs with capital and know-how so that they can grow faster and more successfully. The basis of their investment is the conviction that entrepreneurial know-how, long-term transaction experience, international networks and sales excellence are the success factors for sustainable growth.

Alstin Capital

Circula

Designed with European tax standards in mind, the mobile and web app support your individualized expense invoicing process in real time, helping to create a seamless and straightforward experience for road warriors, accountants and managers alike.

Circula is a SaaS platform that features a tax-optimized employee benefits suite (e.g., digital meal vouchers and travel benefits) as well as products to manage employee expenses and corporate credit cards. Circular’s meal vouchers enable employers to subsidize employee meals as a salary increase or a conversion up to EUR 6.7 (~USD 7.5) per day. The company claimed this was 50% cheaper than a conventional salary increment, as employer contributions to meals are partly tax-free.&nbsp;

Distributed workforces require new solutions for office operations, HR, payment, and more.

Remote Work Infrastructure

<div>Circula is a German company providing an employee expense and benefits management platform, with integrated tax benefits. The company offers card and non-card business expense management solutions, which it claims reduces finance teams&rsquo; expense verification and management time by upto 80%. Circula&rsquo;s non-card solution lets companies automate the per diem, out-of-pocket, mileage, and purchase expense reimbursements and benefit payments (such as digital meal vouchers and mobility budgets) to employees. The platform uses OCR to automate data entry and has embedded duplicate and policy compliance checks.</div>

Platforms, apps, and cards to keep the corporate wallet in check

Business Expense Management

Germany-based Circula raises €12M, announces expansion to the Netherlands

Circula is a SaaS platform that features a tax-optimized employee benefits suite (e.g., digital meal vouchers and travel benefits) as well as products to manage employee expenses and corporate credit cards. Circular’s meal vouchers enable employers to subsidize employee meals as a salary increase or a conversion up to EUR 6.7 (~USD 7.5) per day. The company claimed this was 50% cheaper than a conventional salary increment, as employer contributions to meals are partly tax-free.&nbsp;Once the employees scan and submit meal or travel receipts using the app, Circula audits the receipts, calculates the reimbursements, and creates the files for monthly payroll in compliance with German tax laws. Additionally, in January 2024, the company launched its first fully digital corporate card allowing for centralized expense management.The company generates revenue via monthly subscriptions per license, priced at EUR 10-15 (~USD 11-16).Key customers and partnershipsAs of May 2024, the company’s platform was used by over 1,700 enterprises, including notable brands such as Five Guys, Omio and Amorelie.Funding and financialsIn its most recent funding round (<a href="https://sp-edge.com/updates/8166">January 2022</a>), Circula raised EUR 12 million (~USD 13.5 million) in a Series A round with participation from Alstin Capital, Peak, and Storm Ventures. Funds were earmarked to invest in recruitment, product development, and expansion across Europe - starting with the Netherlands in 2022.

ActivTrak is a cloud-based productivity monitoring software provider. The platform offers data and analytics which can be used to detect workplace productivity gaps. The platform collects data from employee activity logs and computer screenshots, although it does not log keystrokes or record video of a user’s screen. ActivTrak also facilitates a range of tasks for admins such as blocking websites, flagging suspicious activities, IP address connections, and monitoring web, and app traffic.Other features offered include productivity reports and coaching, headcount and workload management and personal insights. In November 2023, the company added capabilities to measure the usage of AI tools, automatically detecting and classifying the use of such tools and websites to help organizations manage and improve AI adoption across the workforce.Activtrak generates revenue via monthly subscriptions (USD 10 and USD 17) per user, and custom pricing for larger enterprises.Key customers and partnershipsAs of April 2024, over 9,500 enterprises used ActivTrak’s platform, notably including Allstate, asembia and Nobu. ActivTrak closed 2023 with a 40% growth in its customer base (adding ~2,200 customers).Funding and financialsIn November 2020, ActivTrak raised USD 50 million in a Series B round led by Sapphire Ventures. Sapphire Ventures CEO and managing director joined ActivTrak’s board as part of the deal. The new proceeds were earmarked for scaling global sales and marketing campaigns, expansion of its platform using AI driven analytics, and improving integration with its technology partners.

ActivTrak

inFeedo is a people predictive analytics company based in India. The Y Combinator-backed startup founded in 2013 is currently focused on “Amber” (launched in 2016), an AI-enabled bot that helps manage employee engagement, predict attrition, and get a pulse on company culture in real time. The company also offers AI-driven exit surveys and analytics to improve retention.Key customers and partnershipsAs of April 2024, over 700,000 users across 250 organizations utilized inFeedo’s platform. Notable clients included GE Healthcare, Puma, Tata Group, and Lenovo.Funding and financialsIn its latest funding round (<a href="https://sp-edge.com/updates/9099">March 2022</a>) inFeedo raised USD 12 million in Series A funding led by Jungle Ventures, reportedly tripling its valuation from less than 18 months ago. The fresh funds will be used for its second employee stock ownership plan (ESOP) buyback for all employees and its go-to-market activities in North America. Further, the company claims it has achieved annual revenue of USD 1.6 million as of November 2020.

inFeedo

Donut provides solutions to keep employees engaged with casual conversations. Its first product, Intros, makes connections between teammates via Slack to emulate quick meetups and in-person introductions at work, which are now virtual.Donut’s new product, Watercooler, launched in October 2020. It attempts to reinvent the micro-interactions between employees at the office watercooler online. The product will integrate with Slack, where a newly-designated channel for Watercooler will be created. The product will post questions automatically within the customers’ desired frequency and pre-selected topics.The company uses a freemium subscription model with paid plans starting at approximately USD 2 per user per month.Key customers and partnershipsThe company claims it has supported four million connections (one million since the Covid-19 pandemic) across its 12,000 customers, including companies such as Okta, Zapier, Slack, The New York Times, and Invision.Funding and financialsDonut announced a USD 12 million funding round led by Accel, along with its new product, Watercooler. The USD 12 million raised was accumulated over multiple rounds before the Covid-19 pandemic, with proceeds earmarked for product development.

Donut

Matter is an employee feedback platform founded by Brett Hellman. Hellman was the founder of messaging app “Hall”, which was founded in 2011 and later sold to Atlassian for USD 20 million in 2015.Matter uses 360-degree feedback to evaluate skills in employees which are linked to career success. The platform links skills such as influence, inclusiveness, empathy, resourcefulness, and multitasking to evaluations. Matter is currently available in beta.

Matter

Mesh is a Y Combinator-backed company that allows employees to set goals, track tasks, share feedback, and engage in one-on-ones. The company also offers an AI coach (Mesh Maven) to help employees stay in line with their key objectives, improve the quality of feedback provided and summarize 1:1s. Mesh also offers nudges and surveys to improve employee engagement alongside relevant analytics.The company generates revenue via monthly subscriptions per user, priced at USD 4 (Base) and USD 7 (Premium).&nbsp;Key customers and partnershipsAs of April 2024, the company served over 100+ enterprises, including NTT Data, Grant Thornton and Groww. The platform also offers integrations with third-party software such as Gmail, Microsoft Teams and Slack, among others.Funding and financialsIn its most recent funding round (<a href="https://sp-edge.com/updates/9768">April 2022</a>) Mesh raised USD 11 million in Series A funding led by RTP Global. The fresh funds were earmarked to expand its global footprint across the US and APAC regions. In line with this, the company planned to expand its headcount across the engineering and sales departments.

Mesh

Companies offering tools to infer employee morale (through surveys and quick assessments) and productivity, including functions for goal setting, review, and feedback.

Companies that offer the entire spectrum of HR tools including payroll processing benefits, onboarding, compliance, analytics, scheduling etc

Companies providing either standalone or combined payroll and benefits services to businesses.

EoR - Companies that assist businesses in hiring distributed teams globally in compliance with foreign labor laws. EoRs become the legal employer of offshore employees. Solutions include payroll, benefits, and taxes.

PEO - Companies that offer similar services to EoRs but establish a co-employment arrangement with businesses and do not become the legal employer.

Companies offering tools such as chatbots, surveys, games, and other activities to infer, assess and improve employee morale and sentiment.

Companies that provide a centralized space for employees to access internal and external resources, enterprise applications, and enable workers to communicate across departments, and stay up to date on organizational announcements.

Solutions in this industry hub are predominantly offered under a B2B SaaS model

Employee and performance management solutions use AI/Ml to infer engagement insights and sentiment analysis

Offers tools for companies to hire contractors globally, and conduct employee and performance management

<div>
 
 Circula is a German company providing an employee expense and benefits management platform, with integrated tax benefits. The company offers card and non-card business expense management solutions, which it claims reduces finance teams&rsquo; expense verification and management time by upto 80%. Circula&rsquo;s non-card solution lets companies automate the per diem, out-of-pocket, mileage, and purchase expense reimbursements and benefit payments (such as digital meal vouchers and mobility budgets) to employees. The platform uses OCR to automate data entry and has embedded duplicate and policy compliance checks. 
 
 
 Circula&rsquo;s card-issuing platform lets users issue physical and virtual business expense cards, powered by Visa, that also automate accounting processes while letting users set custom card limits and monitor expenses through the web interface. 
 
 
 Circula operates through a subscription model, where it charges users a monthly fee (starting at EUR 85 per month) based on several factors such as licenses, integrations, and key account managers. 
 
 
 Key customers and partnerships
 
 
 The company mainly targets SMBs and mid-market companies and had over 1,000 customers as of January 2022, including Orthomol, SportScheck, McMakler, and Ebner Stolz. Circula enhanced its platform by partnering with Way2VAT in April 2022, a VAT reclaiming solutions provider, to enable Circula&rsquo;s clients to access Way2VAT&rsquo;s solutions. 
 
 
 Funding and financials
 
 
 Revenue from the platform grew around 270% YoY in 2021. Circula subsequently raised EUR 12 million (USD 13 million) in Series A funding in January 2022 to invest in recruitment, product development, and expanding across Europe - starting with the Netherlands in 2022.
 
</div>

<div>
 
 Expensify offers an app that provides a diverse range of expense and payment solutions and insights for individuals and enterprises. It offers business expense cards and reimbursement platforms with automated receipt scanning and approval workflows. Expensify also provides bill payment solutions with automated tracking, approval, and payment.&nbsp;
 
 
 
 
 Its corporate cards also offer benefits to users in the form of discounts when using several B2B platforms such as Stripe, AWS, Quickbooks, and Stack Overflow. Expensify can also be integrated with several third-party HR, tax, accounting, and travel platforms software.
 
 
 
 
 The company follows a freemium pricing model. For business expense cards, users are charged a monthly fee per card. Non-card reimbursement and business payout management platforms are subscription-based.
 
 
 <a href="https://sp-edge.com/updates/23003">
 In October 2023
 </a>
 , Expensify added a feature to its app that allows users to send and receive money, split expenses within individuals or groups, and use chat functionality, signaling the company's entry into personal finance.
 
 
 
 
 Key customers and partnerships
 
 
 
 
 As of October 2021, the platform had over 10 million end users, across several enterprises including La Trobe University, Swatch Group, Pinterest, and Atlassian. Moreover, Expensify reportedly had around 
 <a href="https://sp-edge.com/updates/23613">
 719,000 paid members
 </a>
 as of November 2023.&nbsp;
 
 
 
 
 Funding and financials
 
 
 The company&rsquo;s
 <a href="https://sp-edge.com/updates/26941">
 revenue amounted to USD 150.7 million
 </a>
 in 2023, with an adjusted EBITDA margin of 13.2%.
 
 
 
 The company&rsquo;s 
 <a href="https://sp-edge.com/updates/16593?industryIds=76">
 revenue amounted to USD 169.5 million
 </a>
 in 2022, with an adjusted EBITDA margin of 25.1%.
 
 
 
 
 The company was listed on the Nasdaq in November 2021, where it raised around USD 70 million at a USD 2.2 billion valuation. 
 
</div>

Expensify

Coupa offers a procurement and accounts payable management software that lets enterprises automate the management and settlement of payables (from invoice matching to payments) and supply chain activities. It also offers a travel and expense (T&amp;E) management platform, with embedded fraud detection, for employees to access integrated travel management solutions including travel booking, price assurance, and other traveler services.The company also operates the “Coupa App Marketplace,” a platform for business users to connect with certified solutions for supply chain, procurement, and finance functions. In March 2024, the firm introduced a number of <a href="https://sp-edge.com/updates/27258">AI-based features</a> to automate tasks, improve efficiency, and enable smarter decision-making for businesses. The firm also plans to launch Forecast Collaboration, a new solution to improve communication between buyers and suppliers by May 2024.In <a href="https://sp-edge.com/updates/33007">August 2024</a>, Coupa introduced a further series of AI-driven features such as Coupa Navi, Contract Intelligence enhancements, and the Coupa Advantage Marketplace. to help companies optimize process efficiency and improve productivity.The company raised aggregate gross proceeds of USD 153 million through an IPO in October 2016 and was listed on the Nasdaq. However, in December 2022, the company <a href="https://sp-edge.com/updates/15272?industryIds=76">entered a definitive agreement </a>(completed in February 2023) to be acquired by Thoma Bravo for USD 8 billion and be delisted from the Nasdaq. Key customers and partnershipsThe company offers its solutions to several industries, ranging from automotive and banking services, to oil and gas, and telecommunications. Its clients include several large global enterprises, including Sanofi, MGM Resorts, Salesforce, Juniper Networks, and Cooper Standard.Coupa delivers its payout solutions in partnership with several companies. Its virtual card partners include AirPlus, HSBC, Citi, and J.P. Morgan, while its payment tech providers include Stripe, Mastercard, PayPal, and TransferMate. In October 2022, <a href="https://sp-edge.com/updates/14052">Coupa partnered </a>with integration and automation solution provider, TradeCentric, to optimize the former’s procurement solutions. The company subsequently <a href="https://sp-edge.com/updates/17669">partnered with </a><a href="https://sp-edge.com/companies/59">Goldman Sachs </a>in April 2023, to leverage the latter’s payment, treasury, and banking infrastructure solution, “Transaction Banking (TxB).”In January 2024, the <a href="https://sp-edge.com/updates/25856">company partnered with Tonkean, </a>a no-code platform to develop business applications to launch “Tonkean Intake Orchestration for Coupa”, in Coupa App Marketplace, to improve intake-to-procure processes for customers.Moreover, Coupa launched an investment fund of USD 50 million in June 2021 to invest in early- and growth-stage startups in the business spend and procurement management industry. The funds first two portfolio companies were SaaS expense management platform, <a href="https://sp-edge.com/companies/408080">Zylo </a>, and procurement management platform, <a href="https://sp-edge.com/companies/152710">SourceDay </a>.

Coupa

Brex offers short-term financing (including earned revenue access) and expense management solutions. The platform primarily offers cards for businesses, including business expense card and corporate cards for larger businesses. Brex issues corporate cards based on several factors such as funding raised, revenue, and cash balances, instead of relying solely on credit scores for approvals.&nbsp;&nbsp;Brex also offers an automated bill payment solution for enterprises to manage payouts. This lets users choose several payment methods (ACH, wire transfers, checks, or cards) and also integrates with accounting systems such as Quickbooks and Xero. The company subsequently launched “Brex payables” in August 2023, an AI-enabled AP solution (from receiving invoices to approving payment) that combined bill payment and purchase card capabilities..In&nbsp;<a href="https://sp-edge.com/updates/33808">September 2024</a>, Brex launched Brex Embedded for global payments integration.&nbsp;Key customers and partnerships&nbsp;Brex users span several groups, such as tech startups, venture capitalists, and ecommerce companies. Brex primarily targets SMBs, and, as of October 2021, it reportedly generated around 60% of its revenue from mid-market companies. However, the company shifted its focus away from small businesses in June 2022, to focus on startups (pre-seed and venture funded companies) and mid-to-large-sized companies. Brex laid off around 11% of its workforce in October 2022, to increase focus on the company’s new strategy, and achieve sustainable profitability for years to come. It subsequently laid off a further 20% of its employees in January 2024 to make the company more agile and accelerate its path to profitability.<a href="https://sp-edge.com/updates/20254">Brex partnered </a>with <a href="https://sp-edge.com/companies/359227">Airwallex </a>in July 2023, to leverage AIrwallex’s network of 50+ global licenses, to support local currency collections for global corporate cards and employee expense reimbursements across the globe.&nbsp;In December 2023, Brex along with&nbsp; <a href="https://sp-edge.com/companies/780841">Ramp </a><a href="https://sp-edge.com/updates/25146">collaborated with Uber’s enterprise arm </a>to improve expense processing efficiency by automating the receipt handling for Uber transactions while ensuring&nbsp; compliance with company policies.&nbsp;Funding and financials&nbsp;Brex raised USD 745 million in Series D funding across two rounds in 2021 (October and April) and was valued at USD 12.3 billion as of October 2021 (up from USD 7.4 billion in April).&nbsp;

Brex

<div>
 
 Navan (formerly known as TripActions) offers a business and personal travel platform and pivoted to the expense management business by launching &ldquo;TripActions Liquid&rdquo; (Liquid) in early 2020. The company continues to offer a range of expense management solutions beyond just travel expense claims, including business expense cards and an employee reimbursement platform.&nbsp;
 
 
 
 
 The expense cards include physical and virtual cards with spend controls, policies and compliance, reconciliation, and custom dashboards for insights. Moreover, the cards reportedly bear zero foreign transaction fees (as of April 2022).
 
 
 
 
 The company claims that the Liquid platform reduces expense reporting hours by upto 66% and reconciliation time by 95%.&nbsp;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 Navan had around 8,800 enterprise customers as of April 2022, at which point Liquid was used by over 600 companies, including Zoom, Lyft, Pinterest, and Patreon.&nbsp;
 
 
 
 Navan partnered with Visa and Mastercard in June 2023, to launch &ldquo;Navan Connect&rdquo;, a patented card-link solution that allows businesses to connect corporate cards from third parties, for expense management and reconciliations. The company planned to expand its network tie-ups in the future.&nbsp;&nbsp;&nbsp;&nbsp;
 
 
 Funding and financials
 
 
 
 The volume of transactions processed through Navan reportedly increased by 7.5x since the period between June and September 2022.
 
 
 
 In October 2022, Navan 
 <a href="https://sp-edge.com/updates/13743">
 raised USD 304 million in funding
 </a>
 , comprising a USD 154 million Series G round and a USD 150 million structured financial deal, to invest in expanding its global operations. The round valued the company at USD 9.2 billion, against its USD 7.25 billion valuation in October 2021. Moreover, the funding came just weeks after Navan reportedly
 <a href="https://sp-edge.com/updates/13440?industryIds=76">
 filed confidentially to go public
 </a>
 in Q2 2023 at a USD 12 billion valuation.&nbsp; 
 
</div>

Navan

<div>
 
 Ramp offers a comprehensive set of tools for expense and payout management. Its &ldquo;5-in-1&rdquo; software covers business expense cards, expense reimbursement platforms, and bill payment solutions (through ACH, checks, and virtual cards) and also includes automated accounting and reporting. Ramp came out of stealth in February 2020 with its business expense card offering (including physical and virtual cards) and thereafter expanded to other expense and payout solutions. The platform also offers bi-directional integration (to incorporate a contract review process into the approval workflow), dynamic intake forms, purchase order enhancements, among other features
 
 
 
 
 The platform lets users set and implement spend controls and expense policies and also helps enterprises manage their expenses through categorization, real-time reporting, and insights. Ramp claims it can enable businesses to close their books 86% faster than through traditional expense methods and reportedly reduces its users&rsquo; spending by 3.3% on average. 
 
 
 Ramp has used acquisitions as a means of inorganic growth. In June 2023, it 
 <a href="https://sp-edge.com/updates/19688">
 acquired Cohere.io
 </a>
 , to drive AI-related projects to help customers save time and money. Ramp also offers autonomous agents that concentrate on essential tasks such as expense management, fraud detection, and contract negotiations, utilizing both internal data and the broader linguistic context from GPT and the internet. In January 2024,
 <a href="https://sp-edge.com/updates/26114">
 Ramp&nbsp; acquired Venue,
 </a>
 a procurement solutions provider (primarily for large organizations) to improve employee purchase request, approval, and payment processes..
 
 
 
 
 Ramp can also be integrated with a range of third-party apps and service providers, including Amazon Business, Lyft, Corporate Traveller, Google Suite, and BambooHR.&nbsp;&nbsp;
 
 
 
 
 The company primarily generates revenue through card payment interchange fees, and was yet to generate revenue from its bill payment solution as of March 2022, despite seeing volume growth. Ramp expanded its bill payment solution in August 2022, by
 <a href="https://sp-edge.com/updates/13437">
 launching buy-now-pay-later (BNPL) solution
 </a>
 , &ldquo;Flex.&rdquo;
 
 
 
 
 Key customers and partnerships
 
 
 
 
 Although Ramp initially focused on the SMB market, the company has expanded its focus market to larger enterprises, including Ro, Avelo, and Anduril. Ramp had over 15,000 business customers as of August 2023. Based on the new customer sign-ups in June 2022 (compared to May) Ramp reported faster growth in its enterprise segment customer base - up 300%&nbsp; - than its mid market (up 50%) and SMB (up 22%) customers.&nbsp;
 
 
 
 Ramp has also invested in several expense management companies across the globe, including MENA-focussed 
 <a href="https://sp-edge.com/companies/1833119">
 Pluto
 </a>
 (February 2022) and Indian fintech 
 <a href="https://sp-edge.com/companies/947785">
 Karbon
 </a>
 .&nbsp;
 
 
 <a href="https://sp-edge.com/updates/24091">
 In November 2023,
 </a>
 Ramp collaborated with Microsoft Copilot, integrating AI for finance tasks, including card issuance and anomaly detection, reducing manual work with the&nbsp; aim of streamline finances for enhanced strategic focus.
 
 
 
 
 In December 2023, Brex along with&nbsp; 
 <a href="https://sp-edge.com/companies/780841">
 Ramp
 </a>
 
 <a href="https://sp-edge.com/updates/25146">
 collaborated with Uber&rsquo;s enterprise arm
 </a>
 to improve expense processing efficiency by automating the receipt handling for Uber transactions while ensuring&nbsp; compliance with company policies. 
 
 
 Funding and financials
 
 
 
 
 Ramp reportedly processed over USD 10 billion in accounts payable volumes annually, as of January 2024.
 
 
 
 
 In 
 <a href="https://sp-edge.com/updates/28597">
 April 2024
 </a>
 , Ramp raised USD 150 million in an extension to its series D round, at an increased valuation of 7.65 billion compared to its valuation of USD 5.8 billion in August 2023 where it raised USD 300 million in funding. The funding was allocated to expand its use of AI and to back potential acquisitions.
 
 
 
 The company 
 <a href="https://sp-edge.com/updates/21235">
 raised USD 300 million
 </a>
 in a funding round in August 2023. The funds were earmarked for accelerating expansion, product developments, and recruitment.
 
</div>

Ramp

Solutions that enable employees to avoid out-of-pocket spending on business expenses, using company-issued payment cards.

Platforms that let employees scan receipts (through OCR) and automatically submit claims to receive reimbursements with the limited involvement of admin, finance, or HR staff.

Platforms offering payout automation solutions that cover the process either entirely or partially—from vendor onboarding to making payments.

Can extract information from invoices/receipts, classify expenses, automate approval and reconciliation processes, and offer insights

Tools can usually be customized based on a user's business nature and workflows

Partner with open banking infrastructure providers to enable account-to-account payments and topping-up cards

Insights and visibility on expenses and payout processes improves transparency in business spend and reimbursements

Solutions commonly include software platforms that digitize, automate, and offer insights on expenses for businesses

Circula

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