Ramp Expands into Digital Banking with Launch of Treasury Product

Ramp Expands into Digital Banking with Launch of Treasury Product
Ramp, the fintech startup known for corporate expense management, has launched Ramp Treasury, a new product designed to help businesses earn interest on their cash. CEO Eric Glyman highlighted that this offering allows customers to earn 2.5% interest while keeping funds easily accessible. The startup, which raised over $1.2 billion in funding, emphasizes that it is not a bank but partners with established banks for this service. With over 30,000 customers, Ramp aims to enhance its competitiveness in the crowded fintech space without aspiring to be a traditional digital bank.