What happened?
Fintech startup Ramp has closed a new funding round of about $1.85bn. According to Bloomberg, citing people familiar with the matter, the company's valuation reaches roughly $60bn with the round.
Who took part?
Dragoneer Investment Group and Thrive Capital led the round. Founders Fund also wrote a large cheque.
How to read the valuation
The $60bn figure reflects the valuation before the new money is counted. That makes Ramp one of the most valuable startups in financial technology.
