Ramp Pursues New Funding Round Valuing Company at $60 Billion
Fintech startup Ramp, founded in 2019 to simplify corporate expense management, is in early‑stage discussions with investors to raise approximately $1 billion of primary capital. The contemplated financing would place the company’s valuation at roughly $60 billion, according to a Bloomberg source cited by Reuters.
The prospective valuation represents a steep increase from the $44 billion level achieved three months earlier, after a $750 million capital injection in June. Since its inception, Ramp has accumulated $3 billion in total capital raised, with backing from venture‑capital firms Iconiq, Thrive Capital and Founders Fund.
Operationally, Ramp has broadened its platform beyond expense management to include business payment processing, automated accounts payable, and AI‑driven fraud detection tools. This expansion has driven annualized revenue to exceed $1.5 billion as of early June.
If the round closes at the targeted valuation, Ramp would rank among the most highly valued private technology companies in North America, underscoring continued private‑market appetite for fast‑growing financial‑infrastructure platforms despite broader macro‑economic scrutiny of the tech sector.