The start ramp of the management of expenses is taken into consideration for a program pilot of debit cards by the administration of the General Services of the United States Government, the company confirmed to Techcrunch on Thursday.
The government’s internal expenses program, nicknamed SmartPay, is a program of $ 700 billion. It is estimated that the contract of the pilot program for the debit card for which the ramp is worth up to $ 25 million, according to a Pro Publica ratio.
Pro Publica states that Fintech Ramp has been pressing for the attention of the administration since January, before President Trump had sworn.
In January, the CEO of the co-founder of Ramps Eric Glyman and the investor of the Ramp VC Kyle Harrison wrote a blog post entitled “The efficiency formula” in which they listed the ways in which they imagined that the government could “eliminate an inefficient expense”. Harrison is a general partner of the Contrary Company.
The post seemed to be an appeal to Elon Musk’s government agenda – which would have been formally created a few days later as the government’s efficiency department – considering that Ramp has ties to the world of Musk and Trump. Ramp investors include the Fund of Founders of Peter Thiel; Keith Rabois by Khosla Ventures; Thrive Capital, founded by Joshua Kushner, brother of Trump’s son -in -law Jared; Joe Lonsdale of Trump Ally 8vc and Jeb Bush, former governor of Florida and brother of the former republican president George W. Bush.
Ramp “is competing in a standard supply process for a SmartPay pilot program based on the strength of our solution,” Lindsay McKinley, head of communications, told Techcrunch Lindsay.
He added: “Ramp technology prevented billions of dollars in wasted expenditure throughout the economy and, if chosen, we will bring the same results to the American taxpayer.“
Although McKinley’s strong rhetoric refers to how the ramp is positioned as a money saving option for companies. It offers spending management features similar to those of other business expenses management platforms, such as the setting of parameters to identify the expenses that are not compliant with policies. The Federal Government has many of these policies for employees in progress.
McKinley said that the startup saw a public place on X shared by the government’s efficiency department, better known as Doge, on February 18 who said that “the United States government currently has 4.6 million active credit cards, which they developed ~ 90 million unique transactions for ~ $ 40 billion in Fy24”.
A former customer, says Ramp, introduced Ramp to GSA a few days later.
“Since then we have shown the product and now we are part of a standard RFI process,” he said. “We have no indication if we are selected.”
In March, Ramp doubled its evaluation to $ 13 billion after a sale of secondary shares of $ 150 million. The startup has collected over $ 1 billion in equity funding and $ 700 million in debt funding engaged since its 2019 institution.
