Ramp’s valuation jumps to $44B after $750M funding round

A fintech company that helps businesses manage their spending just raised $750 million and landed a $44 billion valuation. Ramp, the New York-based corporate card and expense platform, closed its Series F round on June 4, with backing from some of the biggest names in institutional finance.

Ramp’s valuation was roughly $32 billion in November 2025. That means the company nearly tripled its value over the course of about a year.

Who wrote the checks

The round was co-led by ICONIQ, GIC (Singapore’s sovereign wealth fund), and the Ontario Teachers’ Pension Plan. New equity investors joining the cap table include Goldman Sachs Alternatives, D.E. Shaw & Co., and Morgan Stanley Investment Management.

With this round, Ramp has now raised more than $3 billion in total equity.

The numbers behind the hype

The company reports annualized revenue exceeding $1 billion and says it has achieved positive operating cash flow. Annual purchase volume processed through Ramp’s platform now tops $200 billion.

AI as the growth engine

Ramp has aggressively embedded artificial intelligence across its core product suite, automating expense management, policy enforcement, and fraud detection. The company has also expanded into managing spending categories specifically tied to AI technologies.

The stablecoin angle

Ramp now supports stablecoin accounts for business transactions, including both USDC and USDT.

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