The CEO of corporate credit card unicorn Ramp says the company’s counterintuitive secret to success is helping customers spend less

Core Insights - Ramp has achieved a valuation of $22.5 billion, growing rapidly in the fintech space by focusing on helping companies reduce expenses rather than incentivizing spending [6][15][19] - The company has crossed $1 billion in annualized revenue and serves over 45,000 customers, demonstrating significant market traction [15][17] - Ramp's innovative approach leverages AI to streamline expense management, automating processes that traditionally consume significant time and resources [22][24] Company Overview - Ramp was founded with the goal of becoming a unicorn within 18 months, a milestone it achieved, marking it as one of the fastest-growing startups in New York [6][16] - The company has doubled its revenue over the past year, significantly outpacing traditional growth expectations in the software industry [15][17] - Ramp's business model flips the traditional corporate credit card incentive structure, focusing on cost savings for customers rather than rewards for spending [19][20] Market Position - The fintech industry is experiencing a surge in investment, with Ramp benefiting from a favorable fundraising environment and a growing demand for innovative financial solutions [25][27] - Ramp's unique value proposition has allowed it to surpass competitors like Brex, despite entering a crowded market [20][21] - The total addressable market for corporate and small-business cards in the U.S. exceeds $2 trillion, positioning Ramp for continued growth as it captures a larger market share [15][17] Technological Integration - Ramp invests over 50% of its payroll in R&D, focusing on integrating advanced technologies to enhance customer experience and operational efficiency [22] - The company has automated 27.5 million hours of work for its customers, showcasing the effectiveness of its AI-driven solutions [22] - Ramp's AI capabilities not only streamline expense reporting but also enhance fraud detection, ensuring the integrity of financial transactions [23][24] Leadership and Vision - CEO Eric Glyman emphasizes a culture of urgency and accountability within the company, tracking the number of days since its founding to instill a sense of purpose [18][33] - Glyman advocates for a future where low-level financial tasks are automated, allowing finance professionals to focus on strategic decision-making [24][30] - The leadership approach at Ramp prioritizes building a strong team and empowering employees, fostering a collaborative environment that drives innovation [33][34]