AI finance startup Ramp raises $500M at a $22.5B valuation
Ramp, the fast-growing expense management startup, has raised an additional $500 million in funding just 45 days after its last financing round—bringing the company’s valuation to a staggering $22.5 billion post-money. The round was led by Iconiq Growth with support from Founders Fund and D1 Capital Partners, reinforcing investor confidence in Ramp’s rapid ascent and long-term vision.
The New York-based fintech company has now secured a total of $1.9 billion in funding, making it one of the most heavily backed startups in the sector. The latest raise follows a $200 million round in June at a $16 billion valuation and a $13 billion valuation just this past March.
Co-founder and CEO Eric Glyman used the occasion to outline Ramp’s ambitious future, particularly around artificial intelligence. In a blog post announcing the raise, Glyman introduced Ramp’s new AI agent—its first step toward what he terms “autonomous finance.” He predicts that by 2028, AI-led financial systems will become the default for how businesses manage spending, forecasting, and operational decision-making.
The company’s AI vision aligns with its financial health. Ramp became cash-flow positive earlier this year and has reportedly reached $700 million in annualized revenue, according to previous statements from Glyman. Ramp also boasts a customer base of 40,000 businesses—a testament to the demand for streamlined, intelligent financial tools in a market that’s increasingly focused on automation and cost efficiency.
Ramp’s meteoric valuation growth and investment momentum suggest not just investor enthusiasm, but a belief that the company could help define the next phase of business finance. With its sights set on an AI-powered future and a growing war chest, Ramp appears poised to lead the evolution toward truly automated financial operations.
