đ§Building the Best, with Jillian Williams feat. Karim of Ramp
Mar 3, 2024
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This podcast delves into the journey of creating and scaling fintech products, featuring the Co-Founder and CEO of Ramp. It explores challenges faced in startups, the acquisition process, hiring for crucial roles, the evolution of operational focus, navigating competition in corporate card solutions, and the correlation between gaming skills and real-world competencies for innovative hiring practices.
Transitioning from consumer-focused Paribus to business-focused Ramp showed the founder's adaptability and strategic evolution in the fintech industry.
Ramp's response to the COVID-19 pandemic emphasized the importance of proactive risk management and internal collaboration.
Deep dives
Company Evolution and Background
Starting with the early days of RAMP, the podcast delves into the background of the co-founder who began with Paribus and moved on to establish RAMP. The journey from a software engineer to management consulting provided valuable insights used in launching RAMP in 2019. RAMP grew significantly in terms of employees and companies served, offering finance automation solutions for business operations.
Formation of Paribus and Acquisition
The episode discusses the formation of the first company, Paribus, aimed at helping consumers save on online purchases by tracking price drops and facilitating refunds. The acquisition of Paribus by Capital One provided insights into the financial services sector and the valuable experience gained through this process. This acquisition led to the development of Capital One Shopping, enhancing customer benefits.
Transition to RAMP and Focus on Innovation
Following the acquisition, the founders transitioned to launching RAMP in 2019 with a fresh perspective. Focusing on building a card program centered on product quality and software, RAMP aimed to help companies save money, reduce waste, and streamline financial operations. The podcast reveals insights into the early stages of RAMP's development and the emphasis on improving financial processes.
Challenges and Adaptations in the COVID Era
Amid the unforeseen challenges brought by the COVID-19 pandemic, RAMP navigated difficulties affecting both the company and its customers. The episode highlights the strategic response to the crisis, including manual processes to assess customer exposure and establish risk mitigation frameworks. The period fostered strong internal collaboration and tighter bonds within the team to address evolving challenges effectively.