RAMP CORPORATE CARD REVIEW FOR STARTUPS AND FOUNDERS

Ramp
 4.23 (21 Reviews)
Founded in: 2019
Total Funding: $1.4b
Ideal for: Series A to Series C
Pros:
  • Great expense management controls
  • 1.5% cash back on all purchases
  • Manager spending control tools
  • Integrates with QuickBooks Online, Xero, and more
Cons:
  • Young company
  • No cash/checking account feature

Ramp Review and Product Details

The Ramp corporate card is designed for small businesses and it’s particularly useful for funded startup companies. Corporations or limited liability companies (LLCs) with at least $75,000 in the bank can take advantage of the Ramp card to auto- mate expense tracking and earn 1.5% cash back on purchases.

What benefits does Ramp offer startups?

Ramp offers startup founders some significant advantages. Let’s review some of them: 

• No personal guarantee. Founders are not personally liable for charges made on their Ramp cards, which is a big benefit. Building a startup company can be financially precarious, so you need to separate your business from your personal assets.

• Cash back on every purchase. You’ll get 1.5% back for charges on your Ramp cards. These rewards apply to all cards used by your startup, and they can add up over time. If you regularly charge $25,000 every month to your cards, you’ll get $4,500 back in rewards after a year. For startups watching every penny, that’s important. 

• Start free. Ramp’s core card offering is free; no annual fees or monthly user charges. Eventually, companies grow to the point where they will want (or need in some cases) to upgrade to paid plans, Ramp Plus or Ramp Enterprise. BUT, we have hundreds of clients using Ramp and very few pay - you’l mainly need to start paying if you are using Netsuite or a big ERP accounting software; QuickBooks, which is the best accounting software for early-stage startups, does not require upgrading to a paid card plan. 

• Expense management tools. You can track, review, and manage employee spending through Ramp’s cloud-based expense management software, which lets you track spending patterns and identify areas to cut expenses, like duplicate subscriptions. The solution allows you to provision unlimited virtual cards for employees, provides real-time reporting, sends alerts for suspicious charges, collects and matches receipts, and integrates with most accounting systems, including Quickbooks. Spending limits can be set based on your startup’s expense policies. 

• High credit limits. Ramp doesn’t conduct a credit review on applicants, and determines your credit limits based on your startup’s cash balance. That’s handy for startups that are making large equipment purchases, for example. 

• Slack integration. If your startup uses Slack to communicate with employees, Ramp will provide you with alerts and requests for approvals instantly without leaving Slack. This feature isn’t part of the basic Ramp subscription (see below). 

• Fast setup. Ramp says that cards can be set up in less than 15 minutes, which is useful for founders who are pressed for time and need an expense management solution quickly. 

• No fees. Ramp charges no annual fee. It’s worth noting that Ramp is a charge card, not a credit card, and must be paid in full each month. However, that means you won’t be charged interest or late fees. 

• Travel platform. Ramp for Travel lets you create travel policies for employees and set automatically enforced limits. You can view and address out-of-policy spending in real time. 

How is Ramp priced?

Reviewing Ramp subscription levels 

The basic Ramp card is free, but there are additional subscription levels that startups can choose based on their individual requirements:

• Essential. This level is free and includes most features, like rewards and savings suggestions. 

• Plus. At $7 per user per month, this level provides category-specific spending controls, Slack integration, multiple-step spending request approvals, and more. Netsuite integration. 

• Enterprise. This level is custom-priced and includes a dedicated account manager, quarterly spending audits, SOX compliant. Local card issuance. 

Don’t be afraid that they offer paid plans - only a handful of our hundred + clients are on any pricing plan. For the vast majority of early stage startups, the card is going to be free.

The Ramp card is a good solution for a growing startup that wants to review and monitor expenses without going through purchases and receipts manually. Its cash-back feature is simple and the robust expense management software gives small companies an easy way to streamline expense tracking and reimbursement, while providing spend analysis that could save your startup thousands. As your company expands you can investigate the higher subscriptions tiers, but the free plan includes features that help you save money and importantly, your time. If you have questions about expense management for your startup, please contact us.

RAMP CARD REVIEW AT A GLANCE

Eligibility Corporations or LLCs with at least $75,000 in the bank
Personal Guarantee Required No personal guarantee
Provision Employee Cards Yes, you can provision employee cards and set spending limits
Expense Tracking and Accounting Yes, you get robust expense management that connects to most accounting systems
Bill Pay New bill pay feature helps consolidate spend management systems into Ramp
Rewards on Spending Yes, 1.5% back on purchases
Business Perks and Benefits Over $300,000 in exclusive deals, discounts, and offers from Ramp partners

 

ACCOUNTING TEAM’S RAMP REVIEWS

Ramp
Overall Rating
4.23 (21 Reviews)

Ramp Feature Ratings

Startup Centric Rewards
3.98
Spending Limit
4.31
Easy Bookkeeping
3.89
Controlled Spending
3.96
Online Interface
4.28
Customer Service
3.76
Ramp Reviews
James A.
Verified Reviewer

Controller

Ramp is easy to use, and the sync works well with QuickBooks Online. Startups are very happy with it.

5 of Stars Given by James A.
Martha T.
Verified Reviewer

Senior Accountant

Lots of policy features/virtual cards for specific spending.

5 of Stars Given by Martha T.
Wilfrido G.
Verified Reviewer

Controller

Syncing transactions into QuickBooks Online, reconciling the account, and tracking receipts are all great.

5 of Stars Given by Wilfrido G.
Christopher
Verified Reviewer

Financial Planning & Analysis

The Ramp card gives the founders good control over their team's spending.

4 of Stars Given by Christopher
Bryan
Verified Reviewer

Accounting Manager

In my opinion, the Ramp card is a good choice because it offers great spend control, easy accounting and doesn't require a personal guarantee.

3.4 of Stars Given by Bryan
Edith
Verified Reviewer

Onboarding Manager

Ramp's interface is very intuitive and easy to navigate. Their QBO integration is also great and saves us a lot of time as all that is required on our end is to sync the transactions for the month, review their auto categorizations, and reconcile the account. Ramp also allows you to set rules for vendors, so if their auto categorization isn't picking up on a specific nuance about a vendor, you can set a rule to map to the correct account.

4.7 of Stars Given by Edith

READY TO CONNECT FOR A FREE CONSULTATION?

We are the experts at helping seed/VC-backed Delaware C-Corps with their accounting and finances!

Talk to an experienced accountant, not a generic sales person

 Kruze Consulting
Alex Janeck
 Kruze Consulting
Edith Silva
 Kruze Consulting
Randy Hall
Viz AI

$250M+ VC Funding Raised


"I had a great experience working with Kruze Consulting when we raised Series A. They know what VCs need to see, and how to present a startup’s books and finances. If you are going to raise venture capital, you need experts like Kruze."
Chris Mansi

Chris Mansi

CEO

Startup Venture Capital Assistance

With former venture capitalists on staff, our team is here to help you navigate the fundraising process and manage your board of directors

 Kruze Consulting
Scott Orn
COO | Former VC
 Kruze Consulting
Healy Jones
VP FP&A | Former VC
Pequity

Scale Remote Operations & Team


"Kruze has supported us above and beyond basic accounting needs by ensuring we have everything we need to expand and support our team wherever they may be located"
Zack Fisch

Zack Fisch

Head of Operations & Legal

Clients who have worked with Kruze have collectively raised over $15 billion in VC funding.

We set startups up for fundrising success, and know how to work with the top VCs.

 Kruze Consulting
Vanessa Kruze, CPA
Founder & CEO
Kruze Logo

Experienced team helping you

Our account management team is staffed by CPAs and accountants who have, on average, 11 years of experience.

 Kruze Consulting
Bill Hollowsky, CPA
VP of Accounting Services
 Kruze Consulting
Claudine Vantomme, CPA
Controller
 Kruze Consulting
Morgan Avery
SUT/R&D Sr. Tax Accountant
 Kruze Consulting
Beth Bassler
Controller, CPA
Protara Therapeutics

Grew from a 2-person startup to a NASDAQ listed public company.


"The Kruze team helped us grow from a 2-person startup to a NASDAQ listed public company in 2 years. We wouldn’t have gotten public without Kruze’s support. Anyone thinking of launching a startup should make Vanessa their first call!"
Jesse Shefferman

Jesse Shefferman

CEO

Kruze Logo

Get in Touch

Please help us connect with you

How can we reach you?

Our first response is typically via email, so please check your inbox.

Help us have a productive first consultation by providing some additional information.

What year was your startup incorporated?

What is your stage of funding?

(pick up from the list)

Approximately how much funding have you raised?

(please enter a dollar value such as 5000000)

Help us understand what you are looking for:

(Optional, click the ones you need)

Anything additional that you’d like to share?

Optional - if you’d like to share anything else to help us prepare for our consultation, please let us know. We are also happy to sign an NDA, just let us know.

Important Tax Dates for Startups

  Talk to a leading startup CPA