June 2026 – Corporate expense management platform Ramp has announced a $750 million funding round, catapulting its valuation to $44 billion. The company’s valuation has nearly tripled in just a year, underscoring investor appetite for fintechs that are weaving artificial intelligence into their core offerings.
The round was led by ICONIQ, GIC, and Ontario Teachers’ Pension Plan, with participation from new backers including Goldman Sachs Alternatives, D.E. Shaw & Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and BroadLight Capital. Several existing investors also joined the round, reflecting strong confidence in Ramp’s growth trajectory.
Ramp reported annualized revenue of more than $1 billion, with Bloomberg noting its run-rate revenue now exceeds $1.5 billion. The company has also achieved positive free cash flow and expanded its customer base to over 70,000 businesses, including Visa, Uber, Shopify, Anduril, and Figma.
Initially focused on startups, Ramp has broadened its remit to include payments, fraud detection, procurement, vendor management, and accounting. Its AI-driven strategy has become a key differentiator, with AI agents integrated into procurement, expense management, accounting, and budgeting tools. Ramp even launched a corporate credit card specifically for AI agents to use, highlighting its commitment to embedding AI into financial workflows.
CEO Eric Glyman emphasized in a blog post that Ramp is building infrastructure to help businesses monitor AI token usage across providers and enable AI agents to make payments on behalf of users. This focus on AI token spend management comes at a time when companies are grappling with rising costs from AI adoption. Uber, for example, recently capped AI tool usage at $1,500 per employee after exhausting its 2026 AI budget in just four months.
Ramp’s competitors include Brex, acquired by Capital One for $5.15 billion earlier this year, and Rippling, another highly valued startup bundling spend management with HR, IT, and payroll tools. With more than $3 billion raised to date, Ramp is positioning itself as a leader in AI-enabled fintech, with sights set on an eventual public offering.
The latest funding round provides Ramp with substantial resources to expand its AI capabilities, strengthen its market presence, and continue reshaping corporate finance through intelligent automation.
