Ramp, the New York company that sells corporate cards and software to automate company spending and accounting, said on 4 June 2026 that it had raised $750m in a primary financing round that valued it at $44bn.
ICONIQ, the Singapore sovereign wealth fund GIC and Ontario Teachers' Pension Plan led the round. Goldman Sachs Alternatives, D.E. Shaw & Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners and BroadLight Capital joined as new investors, and 18 existing backers also took part.
Ramp said the round brings the equity it has raised to more than $3bn. TechCrunch reported that the valuation had nearly tripled in a year.
“We're growing as fast as we were three years ago, at roughly twenty times the size,”Eric Glyman, Co-founder and CEO, Ramp
What Ramp does
Ramp was founded in 2019 by Eric Glyman, its chief executive, Karim Atiyeh and Gene Lee, according to Wikipedia. It started with corporate cards and expense management and, as TechCrunch noted, has expanded into payments, fraud detection, procurement, vendor management and accounting. It has also added software agents that handle purchasing, reconciliation and month-end close.
In the months before the round, Ramp said it released more than 70 products and major features. These included Ramp Stack, a system for accounting firms, a tool that tracks how much companies spend on AI tokens, and a product aimed at early-stage startups. It also bought two companies, the UK and European payments business Billhop and the guest travel company Juno, and said it would start serving companies headquartered in the UK and Europe in the summer of 2026.
Glyman described AI as a third category of business spending alongside staff and suppliers, paid by the token and hard to track with existing finance systems. He said Ramp wanted to be the infrastructure for managing it.
Revenue and customers
The company gave a set of figures dated 1 June 2026. It said it had more than $1bn in annualised revenue and positive free cash flow, more than 70,000 customers and about $200bn in annualised purchase volume. TechCrunch noted that Ramp first said it had crossed $1bn in annualised revenue in September 2025, and cited Bloomberg as reporting a run rate above $1.5bn.
Ramp said total payment volume grew about 170% year on year in March 2026, its fastest rate in three years, and that enterprise business more than doubled, with over 3,200 customers paying at least $100,000 a year. Named customers include Visa, Uber, Shopify, Anduril, Figma, Notion and Cursor. TechCrunch reported that the customer count had risen from 50,000 in November 2025.
Glyman said the company was growing as fast as it had three years earlier at about 20 times the size, but still served only a small share of its market.
The funding so far
The new valuation follows a fast run of rounds. Crunchbase News reported that in November 2025 Ramp raised $300m at a $32bn valuation in a round led by Lightspeed Venture Partners, which it described as the company's fourth raise of that year. That followed a $500m Series E-2 at a $22.5bn valuation in late July 2025 and a secondary share sale in March 2025 that valued Ramp at $13bn.
At the time of the November round, Ramp said it had raised $2.3bn in equity since 2019, according to Crunchbase News. Earlier rounds listed by Wikipedia include a Series A of about $15m led by Founders Fund in 2020, a $115m Series B and a $300m Series C in 2021, and a $300m Series D in 2023.
A crowded spend management market
Ramp's main rival, Brex, agreed to be bought by Capital One for $5.15bn in cash and stock earlier in 2026, TechCrunch reported. Rippling, which bundles spend tools with HR, IT and payroll software, is another competitor.
TechCrunch said Ramp's raise fitted a wider pattern of investors paying up for financial technology companies that can show AI-driven growth. According to TechCrunch, citing Bloomberg, Glyman has said Ramp plans to go public eventually but has not given a timeline.
Company website: ramp.com