Fintech Family Hour
Fintech Family Hour
News(ish) #3: + Divvy Merger Breakdown with Eric Glyman, CEO @ Ramp

News(ish) #3: + Divvy Merger Breakdown with Eric Glyman, CEO @ Ramp

Welcome to our third News(ish) Breakdown with Lindsay Davis and Zach Anderson Pettet. Lindsay is the Head of Markets at Atomic and an all around fintech expert. We have a guest this week! Eric Glyman (CEO at Ramp) joins us to dig into the impending merger between and Divvy.

Though 2020 was an outlier with companies cutting spend during lockdowns to preserve cash and extend runway, the market is massive and on pace to come back as the country prepares to return to work with hybrid business operations. Below are few highlights from the conversation.

Our conversation covers:

  • How to differentiate corporate cards targeting tech startups, small businesses, and enterprise businesses

  • Patterns of corporate card spending and savings during the first phased of the COVID-19 pandemic

  • Our outlook, on’s definitive agreement to buy Divvy in a cash and stock deal worth $2.5B

  • Ramp’s “no founder liability,” plans to consolidate the financial software stack, and what’s on the roadmap for 2021

Fast fintech facts:


  • Total deal valuation: $2.5 billion

  • Deal terms: Approximately $625 million in cash and $1.875 billion of common stock

  • Traction: 7,500 monthly active small and medium-sized businesses (SMBs)

  • Total payment volume (TPV): $4 billion annually

  • Target demographic: Corporate cards for SMBs and tech startups

  • Total Funding: $417.5 million

  • Market cap: $12.7 billion (as of 5/7/21)

  • Traction: 115,000 customer base and its network of 2.5 million members

  • Target demographic: Accounting, expense management and budgeting software for SMBs

  • Q1’21 earnings: $59.7 million in revenues


  • Total raised: $300 million in equity and debt

  • Last round: $115 million Q1’21 

  • Valuation: $1.8 billion

  • Target demographic: Tech startups and small businesses

Fintech Family Hour
Fintech Family Hour
Fintech Family Hour is hosted by Zach Anderson Pettet who also works as Director of Content for Money20/20 USA. FFH isn’t the average business podcast. It’s like if Johnny Carson, Oprah, and Mike Bloomberg fell in love and made a fintech media property entertainment baby. We nerd out and we have fun doing it!
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