Corporate finance platform Ramp announced today that it has raised a $750 million primary financing round, valuing the company at $44 billion. The round was led by major global institutional investors including ICONIQ, GIC, and the Ontario Teachers’ Pension Plan.
The deal also drew participation from a wide roster of new and returning backers. New investors include Goldman Sachs Alternatives, D. E. Shaw & Co., Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and BroadLight Capital, alongside a long list of returning venture and growth investors including Founders Fund, Lightspeed Venture Partners, Coatue, Thrive Capital, Khosla Ventures, and others.
With this latest round, Ramp says it has now raised more than $3 billion in total equity financing since its founding in 2019.
At the center of Ramp’s pitch is a structural claim about how businesses now spend money. The company argues that corporate cost structures are no longer defined only by people and vendors, but increasingly by artificial intelligence.
“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,” said Eric Glyman, co-founder and CEO of Ramp.
Alongside the fundraising announcement, Ramp disclosed a sharp acceleration in transaction volume. The company reported that total purchase volume (TPV) grew approximately 170% year-over-year in March 2026, its fastest growth rate in three years, despite the company now being roughly 20 times larger than it was at earlier stages.
That kind of acceleration at scale is unusual in fintech, where growth rates typically slow as companies expand into larger enterprise customers. Instead, Ramp says demand is broadening into new categories, particularly AI-related spending and its expansion into accounting workflows through “Stack,” a product aimed at accounting firms.
The company also noted that it is now entering accounting firms as a new customer segment for the first time, signaling a move beyond corporate spend management into professional services infrastructure.
AI-driven savings and productivity gains
Ramp’s core value proposition remains unchanged: reduce costs and administrative workload for finance teams. But the company says the impact has intensified over the past year.
In May 2026, the median Ramp customer saved 50% more money and 32% more time annually compared to the prior year. Customers using the full suite of products reportedly saw savings that more than doubled.
These gains are attributed to rapid product expansion and deeper automation across finance workflows from procurement to accounting reconciliation.
Today, Ramp says it serves more than 70,000 customers, including major enterprises such as Visa, Uber, Shopify, Anduril, Figma, Notion, and others. The company also reports more than $200 billion in annualized purchase volume flowing through its systems.
The past year has been marked by unusually fast product velocity. Ramp says it released more than 70 products and major features in just a few months, alongside two acquisitions: Billhop (focused on UK/EU payments) and Juno (guest travel infrastructure).
This expansion coincides with Ramp’s push into international markets, including plans to begin serving companies headquartered in the UK and Europe.
The company also deepened its partnership with Visa, aiming to enable AI agents that can execute autonomous corporate payments while maintaining real-time controls, a step toward machine-driven financial operations.
