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Finance

B2B fintech Ramp raises $1.85 billion, valued at $60 billion

B2B fintech startup Ramp has raised $1.85 billion through a new share issuance and was valued at $60 billion, Reuters reported on Oct. 15 local time. The round was led by Dragoneer Investment Group, with Thrive Capital, Founders Fund, Sands Capital and Avenir Growth as co-leads. Ramp, based in New York, provides corporate cards and expense management software. It has more than 85,000 corporate customers.

Crypto

Kalshi seeks funding at $40 billion valuation, expands beyond prediction markets into trading platform

Prediction market exchange Kalshi is in late-stage talks to raise $1 billion, a deal that would value the company at about $40 billion, Reuters reported. Tiger Global and Dragoneer Investment Group are among potential new backers, while Sequoia Capital is discussing leading the round with Wellington Management. The company is expanding beyond prediction markets into a platform for trading multiple assets and is in early talks about an IPO within a few years.