Ramp Considering $1 Billion Funding Round at a $60 Billion Valuation
New York-based fintech startup Ramp is in early discussions with investors to raise up to $1 billion in primary capital, potentially valuing the company at around $60 billion. This would mark an increase from its June valuation of $44 billion following a $750 million Series F funding round. The new funds are intended for AI-focused product development and expansion into U.K. and European markets through recent acquisitions. Ramp has introduced innovative financial tools, including token-based billing for corporate AI usage and expanded partnerships with Visa to enable real-time payment controls by AI agents. As of June 1, the company reported over $1 billion in annualized revenue, positive free cash flow, more than 70,000 customers, and a purchase volume exceeding $200 billion. CEO Eric Glyman emphasized Ramp's role as infrastructure for managing corporate expenses tied to AI usage. The fintech firm is also monitoring the IPO market due to its strong growth and profitability profile.
Topics: AI integration corporate spend management financing round valuation