The $5.8bn New York fintech hiring Goldman Sachs associates
Funding rounds for major fintechs in 2023 are few and far between, with companies taking valuation cuts left right and center. New York-based card provider Ramp is the latest to do so and its results were... Okay. It took a 28% hit to its valuation but was still able to secure $300m in funding, one of the largest fundraising efforts of the year. It's still continued to hire in 2023 and, given its location, has managed to attract alumni from top Wall Street banks, particularly Goldman Sachs.
For direct hires from banks, Ramp has mainly hired Goldman associates. These include Joley Schneider in March who was in Goldman's global markets sales and trading, Peyton Heck in July, joining from its wealth management division, and Shruthi Chakravarthy from Goldman's platform solutions team. One of the more senior acquisitions, a VP, was from JPMorgan; Calvin Lin spent a decade at JPM before joining this month. He says he can already notice the "amazing impact" Ramp provides.
There are also a number of top alumni that have been working there for a few years now. Ramp's chief business officer Colin Kennedy was an executive of Goldman Sachs' star-child turned disappointment, Marcus. He joined Ramp in 2021 after a two-year stint at payments giant Stripe. Head of engineering Nik Koblov spent 18 years at Goldman Sachs, acting as CTO for multiple divisions including institutional client services and credit technology.
Like most fintechs, Ramp hires top tech talent from rival FAANG and fintech firms, but even there they show love to banking alumni. In May, it hired Isabella Turchetta, a staff product manager from Twitter who was formerly a Morgan Stanley summer analyst. In July, it hired senior data scientist Ryne Carbone, a sixth level machine learning engineer from payments fintech Square who was previously a JPMorgan VP.
Ramp isn't ceasing its hiring efforts. It has 52 open positions, eight of which are exclusive to its New York office, the rest also available remotely or in the Miami office. In New York, it's also hiring engineering interns and graduates; the former can earn an hourly rate of $60 and the latter can earn a salary of up to $150k.
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