Ed Ludlow

is it doesn't have to be so hard.

We've created cards where you tap them and your expense report is done for you, your books are closed for you.

And the result is that companies spend less.

The average business spends about 5% less.

And the average business on ramp grew last year by about 16%, which is multiple times the U.S.

average.

And so just as we've brought this to the U.S., we want to bring that same innovation and more

to the great companies being built and operated out of Europe.

Operate out of Europe, but it's a global world, it's a funny thing to say, but many of your customers or clients, they would have a footprint operationally in different jurisdictions, like the US and Europe.

Is this kind of therefore about the multinational client that you're trying to go after?

it's a bit of both i mean so for today let's say you're a multinational leader like a shopify or like a cbre you can issue cards today locally and make payments all around the world in europe in asia in latin america you name it ramp is able to do that but part of what this acquisition brings is the capabilities

to serve European headquartered or base companies without operations in the United States.

And so they're able to benefit from that same global infrastructure, but it really allows us to reach a much larger market.

Talk a little bit about Ramp, the company, the startup, and you running it.

You have the who's who list of investors.

And what I find interesting is, not unique to you, it's come up a lot recently, you sat on a lot of the money that you raised for quite a long time.

You've gone out and done an acquisition.

What's that like, deciding to spend the funds raised?

Look, with everything we do, just as we're trying to help our customers get more from every dollar an hour, we want to, too.

And I think you're exactly right.