Ramp raises $750M, valued at $44B, cites AI-driven growth

The financial technology company Ramp has raised $750 million in a new funding round, valuing the company at $44 billion. The Series F financing, announced Thursday, was led by investors ICONIQ, GIC, and the Ontario Teachers’ Pension Plan. New investors including Goldman Sachs Alternatives, D.E. Shaw, and Morgan Stanley Investment Management also participated, alongside existing backers.

This valuation marks a significant increase from the company’s $32 billion valuation in November and nearly triples its valuation from approximately a year ago. The deal is among the largest private financings of the year and signals renewed investor confidence in high-growth fintech startups after a period of sector-wide pullback.

Founded in 2019, Ramp began as a corporate card and expense management platform. It has since expanded into a broader financial operations provider, offering payment services, bill pay, procurement tools, and accounting software. The company stated its platform is now used by more than 70,000 organizations, from small businesses to Fortune 100 companies, and that customers have collectively saved over $12 billion and 27 million hours.