Fintech startup Ramp is reportedly in discussions to raise fresh funding at a valuation of more than $40 billion, just six months after achieving a $32 billion valuation. According to sources familiar with the matter, the company is expected to raise nearly $750 million in the new funding round. Existing investors Iconiq Capital and GIC are reportedly leading the investment, although the agreement has not yet been finalized and the terms could still change.
Founded in 2019 by CEO Eric Glyman, Ramp has seen rapid expansion in the corporate finance and expense management industry. In September, the New York-based company crossed $1 billion in annualized revenue, catering to businesses ranging from small family-owned farms to space startups. Along with corporate cards and expense management services, Ramp also provides bill payment solutions, procurement tools, travel booking services, treasury management, and automated bookkeeping products.
The company has also strengthened its focus on artificial intelligence to enhance its offerings. Ramp has launched AI-powered features and agents capable of spotting suspicious transactions, detecting AI-generated fraud, preventing purchases that violate company policies, and automating various financial processes. Its aggressive AI integration strategy, combined with strong revenue growth, has further increased investor interest in the company.
Ramp’s latest fundraising discussions follow several major investment rounds completed during 2025. Earlier in the year, the company secured $200 million in a Series E funding round led by Founders Fund at a $16 billion valuation. This was followed by a $500 million Series E-2 investment from Iconiq at a $22.5 billion valuation. In November 2025, Ramp raised another $300 million round led by Lightspeed, which pushed its valuation to $32 billion.
So far, Ramp has raised more than $2.3 billion and has received backing from major investors including Founders Fund, Sequoia Capital, Coatue Management, Thrive Capital, Lux Capital, and others. The company’s growing valuation highlights the increasing demand for AI-powered fintech platforms and Ramp’s strong presence in the corporate finance technology sector.
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