March 3 (Reuters) - Ramp, a fintech startup that offers

corporate cards and software for managing employee expenses, was

valued at $13 billion in a tender offer round that lets some

employees and investors cash out, signaling renewed investor

appetite in high-growth startups.

The five-year-old startup hit the new valuation as it sold

$150 million worth of its secondaries to investors including

Singaporean wealth fund GIC, Thrive Capital, Khosla Ventures and

General Catalyst, Ramp said in a statement on Monday. The New

York-based startup was valued at $7.65 billion in a funding

round last April.

The company didn't disclose its revenue, but a source

familiar with its financials said its annualized revenue has

grown to $700 million.

Ramp joins other high-profile startups, from Databricks to

Stripe, in allowing employees to cash out their shares, a move

that could delay the companies' IPO plans.

"We want to find a way to partner, but didn't have a primary

(funding) need. Secondary was a great fit, where it could allow

us to deepen partnerships with investors that we were really

dying to work with," said Eric Glyman, Ramp's co-founder and

chief executive, who added the company is on a path to reach

cash-flow positive.

Last week, Stripe announced a tender offer for employees and

shareholders that valued the company at $91.5 billion, nearly

41% higher than its valuation a year ago, potentially delaying

the fintech firm's ambitions of going public.

Ramp serves over 30,000 customers, from family farms to

space startups, and powers over $55 billion in annualized

payment volume across card transactions and bill payments, up

from $10 billion in January 2023, the company said.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru and Krystal

Hu in San Francisco; Editing by Alan Barona and Lincoln Feast.)