The startup startup ramp is considered for the pilot program of the fee card by the administration of general services of the US government, the company confirmed TechCrunch on Thursday.
The government program of the internal expenditure card, named Smartpay, is a program value $ 700 billion. It is estimated that the charging card pilot program, for which the ramp is considered up to $ 25 million, in accordance with report Pro public.
Pro Publica claims that the fintech ramp has been lobbying for the administration’s attention since January, before President Trump was sworn in.
In January Blog post entitled “Efficiency formula” in which they mentioned the way they imagined that the government could “eliminate inefficient expenses.” Harrison is a company’s general partner on the contrary.
Post seemed to be an appeal to the government’s government agenda Elon Musk – which can be formally created a few days later as the performance of the government department – considering that the ramp has connections with the world of Musk and Trump. RAMPI investors are the founders of Peter Thiel; Keith Rabois from Khosla Ventures; Thrive Capital, founded by Joshua Kushner, brother of son -in -law Trump Jared; Trump Ally 8VCJoe Lonsdale and Jeb Bush, former Governor of Florida and brother of former Republican President George W. Bush.
Ram “competes in a standard order process for the SmartPay pilot program based on the strength of our solution,” said Lindsay McKinley, head of communication on Thursday.
She added: “RAMPU technology prevented billions of dollars of wasted expenses throughout the economy, and if we are selected, we will bring the same results to the American taxpayer.“
Despite McKinley’s strong rhetoric, it refers to how the ramp is positioned as an option to lower your expenses for corporations. It offers similar expenditure management functions as other corporate expenditure management platforms, such as setting parameters to discover expenses that are not in line with policies. The federal government has Many such rules for employees on site.
McKinley said he saw a startup Public post on x Divided by the Department of Government Efficiency, higher known as Doge, February 18, in which “the US government currently has ~ 4.6 million active credit cards/accounts that processed $ 90 million unique transactions for ~ USD 40 billion in USD in FY24”.
The former customer, says Ramp, introduced the ramp to GSA a few days later.
“Since then, we have demonstrated the product and we are now part of the standard RFI process,” she said. “We have no tips whether we will be chosen.”
In March, the ramp doubled its valuation up to $ 13 billion after the sale of a secondary share of $ 150 million. The startup collected over $ 1 billion in capital financing and $ 700 million for committed funding for debt from the moment of creation in 2019.