News Summary

Expense management startup Ramp is vying for a significant opportunity with the U.S. government’s General Services Administration (GSA) to be part of a charge card pilot program known as SmartPay. This program, which handles $700 billion in transactions, could see Ramp managing up to $25 million if selected. Ramp’s technology aims to reduce inefficient spending, a pitch that aligns with the government’s goals. The startup has ties to influential figures and firms, including Peter Thiel’s Founders Fund and Thrive Capital. Ramp’s valuation recently soared to $13 billion following a secondary share sale, showcasing its growth and potential impact.