Case study

How UpEquity streamlined its finance stack with Ramp

UpEquity is a technology-enabled mortgage startup on a mission to transform the homebuying experience by giving every person the opportunity to make a competitive, winning offer on their dream home. Its Buy with Cash program helps homebuyers make an all-cash offer that's 4x more likely to be accepted vs. traditional mortgages, and its Buy Before You Sell program enables buyers who have an existing home to remove the contingency from their next offer. Based in Austin, Texas, UpEquity has completed over a thousand deals, raised its Series B in October 2021, and carries a Net Promoter Score 5x higher than the industry average.

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The problem

A time-intensive, fragmented reimbursement process and limited cost savings

With its legacy provider, Brex, UpEquity had no way to institute a simple, streamlined reimbursement process. Head of Strategy and Finance Tyler Bliha was spending too much time each month with an inefficient, unwieldy reimbursement process that included toggling back and forth between multiple vendors, including Divvy and Expensify.

What’s more, the company knew it could optimize cost savings by switching to a different provider. “Brex didn’t do a lot around cost savings,” says Tyler. With Brex, Tyler and his team couldn’t easily gain visibility into opportunities to reduce unnecessary expenses or switch to more cost-effective plans. “We also weren’t taking advantage of the points system with Brex,” explains Tyler. “A platform that offered cashback was just simpler.”

“A platform that offered cashback was just simpler”

- Tyler Bliha, Head of Strategy and Finance, UpEquity

The solution

A single platform with increased spend visibility and cashback savings

UpEquity switched to Ramp to get an all-in-one platform that would simplify reimbursement, provide greater visibility into spend management, and find more effective cost-savings.

From clunky reimbursements to next-day payments

Right away, Ramp’s reimbursement solution attracted Tyler’s attention. “The first thing that drew me to Ramp was the fact that there was a reimbursement solution. We have over 80 employees now, and our finance team is still small. Ramp’s ability to approve reimbursements and employee expenses on the fly has made my job a lot easier,” he says. Ramp simplifies the reimbursement process by empowering finance leaders like Tyler to establish and execute easy, automated approval processes from directly within the Ramp platform or communication tools like Slack.

Empowering employees to do their jobs

UpEquity uses Ramp cards as much as possible. “I gave a card to every department head and gave them the authority to issue new cards to their employees,” explains Tyler. “Getting people cards and getting them on the platform takes about 10 seconds.” Decentralizing oversight of corporate cards saves time for Tyler and empowers UpEquity employees without adding risk, as Tyler and his team can quickly review, approve, and reject any purchases made on the platform.

Deeper insights into how company dollars were being used

Ramp’s reporting tools allow Tyler to monitor spend across categories: by department, by vendor, etc. By issuing multiple virtual cards, the UpEquity team can increase the granularity of insights into department spend. “I can give our Director of Marketing separate cards for each acquisition channel: one for paid ads, one for lead gen, one for outsourced services, etc. That’s critical because I can not only see the different vendors we’re using, but I can also see how we’re thinking about the categorization and breakdown between different forms of marketing spend,” says Tyler.

Automated cashback and savings

Ultimately, the level of insight Ramp provides allows UpEquity to identify opportunities for cost savings more efficiently. “That was something I didn’t necessarily see at Ramp until I started using it,” says Tyler. “The promise that you can look into areas of potential double spend, or areas where you can save money, or derive cost-savings by switching from monthly to annual. Having these views on autopilot makes my life a lot easier” says Tyler. 

Plus, UpEquity no longer has to worry about trading points for value. With Ramp, the company automatically receives 1.5% cashback on all purchases made via the platform.

"Ramp’s ability to approve reimbursements and employee expenses on the fly has made my job a lot easier" 

- Tyler Bliha, Head of Strategy and Finance, UpEquity

The result

Spend management built to scale

By implementing Ramp, UpEquity has saved time for the finance team by simplifying and automating tedious manual tasks, gained greater insight into spend trends across departments and vendors, and identified cost saving opportunities in real time. All of that generates efficiency and maximizes profitability for the fast-growing company. 

With Ramp, UpEquity’s once burdensome reimbursement process has become a breeze. “Reimbursements now take 10-15 minutes out of my week, since I can either approve requests or delegate their approval to department managers,” says Tyler. 

Ramp’s easy-to-use, easy-to-access platform offers granular visibility into transactions across the organization, which has enabled UpEquity to gain a better understanding of how resources were allocated across the company and identify opportunities for cost-savings. 

“Not until Ramp did we see basically intra-month insights into our day-to-day spend,” says Tyler, referencing transactions like subscriptions, one-off purchases, and third-party access.

Since implementing Ramp, UpEquity has scaled significantly, growing from 20-25 employees to 80+, with plans to more than double headcount over the next 12 months. At such a rapidly growing fintech company, Ramp’s ease of use, accessible virtual cards, and ability to auto-categorize purchases has made a significant contribution to streamlining operations.

"Not until Ramp did we see basically intra-month insights into our day-to-day spend"

- Tyler Bliha, Head of Strategy and Finance, UpEquity

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Learn more about Ramp

Streamline approvals.
Review requests, pre-approve expenses, and issue general expense cards in a few clicks – or directly in Slack. Delegate approvals and empower your team leads to spend on the things they need and control their team’s expenses.
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Issue instant cards.
Unlimited virtual and physical cards with built-in spend limits, instantly available for everyone in your team. Define spend rules and let your smart cards enforce your policies automatically. No more surprises or under-the-radar spending.
Advanced Cards
See spend as it happens.
Stop waiting on monthly statements or manual spreadsheets. Find, browse, and download real-time transactions from any employee, department, or merchant – on any device.
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Close your books 5x faster.
An accounting experience by finance teams, built for speed and efficiency. Automate manual processes and start enjoying instant reconciliation – Ramp does all the heavy lifting.
Accounting Automation
Trim wasteful spend.
Ramp analyzes every transaction and finds hundreds of ways your company can cut expenses. It’s like having a second finance team, laser-focused on cutting costs.
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Consolidate reimbursements.
Ramp makes it easy to reimburse your employees for all their spend that's not on a card. Set up review & approval flows within Ramp, and see your reimbursements on your dashboard, alongside all your other transactions.
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