Ramp Raised $1.85 Billion at $60 Billion Valuation
The corporate card and software platform added $16 billion in valuation over four months.
Updated on Oct. 10, 2026 in Startups
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Fintech startup Ramp has raised $1.85 billion in a new funding round. The investment pushes the firm's valuation to $60 billion, up from $44 billion in June 2026.
Why it matters
The rapid increase in valuation signals continued investor appetite for enterprise financial software that integrates corporate card management with automated spending controls and fraud detection.
Ramp reached a $60 billion valuation following this $1.85 billion round, having previously raised $750 million in June 2026. As of that earlier date, the company reported an annualized revenue of $1.5 billion across 70,000 business clients.
The players
Ramp
A New York-based fintech company providing corporate cards, expense management software, and fraud detection tools.
Dragoneer Investment Group
An investment firm focusing on growth-stage technology companies that co-led this funding round.
Thrive Capital
A venture capital firm focused on internet and software companies that co-led this funding round.
Founders Fund
A venture capital firm that invests in technology companies and participated in this round.
The details
Founded in 2019, New York-based Ramp provides a platform that bundles corporate credit cards with expense management software. The platform automates bookkeeping tasks and utilizes proprietary software to detect fraud and manage payments. The company is now reportedly exploring the possibility of training its own artificial intelligence models to further automate its financial workflows.
Timeline
2019: Ramp was founded.
June 2026: Ramp raised $750 million at a $44 billion valuation.
August 2026: Ramp released an AI tool.
September 2026: Bloomberg reported on funding talks.
October 10, 2026: The $60 billion valuation was reported.
The Tech Race
The current valuation highlights the performance divergence between Ramp and the $5.15 billion sale price of its competitor Brex. Ramp continues to scale its integrated financial stack as it competes for market share against other established corporate spending platforms.
For the 70,000 businesses currently using Ramp's card and software platform, the funding provides additional capital to support potential new features like internal AI model development. Users should watch for future software updates as the firm seeks to further integrate automation into corporate expense workflows.
The takeaway
Ramp’s rapid valuation growth underscores how investors are prioritizing automated financial management tools with significant scale. Watch for further announcements regarding the company's internal AI training initiatives to see if they can maintain their current revenue momentum.
Further reading
For more on emerging financial technology, see the latest developments in Startups.
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