New York-based fintech startup Ramp has closed its $750 million Series F funding round, putting the company’s valuation at $44 billion. The new capital will be used to further expand its AI-focused product development for customers.
Existing investors that also participated included Founders Fund, Lightspeed Venture Partners, D1 Capital Partners, T. Rowe Price, General Catalyst, Alpha Wave Global, 137 Ventures, Thrive Capital, Coatue, Sands Capital, Khosla Ventures, 1789 Capital, Avenir Growth, BoxGroup, 8VC, Pinegrove Venture Partners, Definition Capital and Stripes.
Ramp tied the financing to what it describes as a new category of corporate expense: AI usage billed per token.
“For 500 years, business ran on two pillars of spend: people and vendors. In the last 24 months, a third arrived — intelligence, paid by the token and invisible to every system we’ve built to manage cost. Ramp is the infrastructure for the third pillar,” CEO Eric Glyman said.
The company said its total payment volume rose about 170% year over year in March 2026, calling it the fastest pace in three years, even as the business has grown to about 20 times its earlier size.
Ramp attributed part of that growth to new AI-related areas, such as token spend controls, and to Ramp Stack, which is helping the company move into serving accounting firms for the first time.
Ramp noted that its customers have been seeing larger savings, pointing to May 2026 results, which said the median customer saved 50% more dollars and 32% more hours per year than the prior year. The company said customers using its full suite posted more than double those gains.
AI Spending The Future Of Business
In the last few months, Ramp completed two acquisitions: Billhop for U.K. and EU payments and Juno for guest travel. The company plans to begin serving companies headquartered in the U.K. and Europe this summer.
Ramp also expanded a multi-year partnership with Visa aimed at letting AI agents initiate corporate payments while applying real-time controls. The company highlighted newer offerings, including token spend management, real-time budgeting tools, procurement automation, accounting workflow automation and a spend platform for startups.
As of June 1, Ramp reported more than $1 billion in annualized revenue with positive free cash flow, more than 70,000 customers, and $200 billion in annualized purchase volume. Ramp also said it has raised more than $3 billion in total equity financing following this round.
Last month, Glyman said on CNBC’s “Squawk on the Street” that for a long time, the fastest-growing companies were in the private markets. But now, with the upcoming IPOs from SpaceX, Anthropic and OpenAI, it’s reshaping how investors are thinking about public markets and corporate growth.
The CEO said he is closely watching the IPO pipeline, noting that companies posting extreme growth rates while also generating cash represent an unusual and highly compelling profile for public investors.
Ramp was founded in 2019 by Glyman, Karim Atiyeh and Gene Lee. The company provides an all-in-one spend management and corporate card platform. By leveraging AI and automation, Ramp’s software is designed to help businesses handle corporate credit cards, control expenses and accounting.
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