Ramp reportedly hits $60bn valuation in $1.85bn funding round

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Expense management fintech Ramp has reportedly raised around $1.85 billion in a new funding round led by Thrive Capital and Dragoneer Investment Group, according to Bloomberg, which cites sources with direct knowledge of the transaction.

The round also drew participation from Peter Thiel-founded venture capital firm Founders Fund, the report states, and values Ramp at approximately $60 billion on a pre-money basis. FinTech Futures contacted Ramp to confirm the development.

If accurate, the report indicates that Ramp has almost doubled its valuation in less than a year. The company raised $300 million at a $32 billion valuation in November 2025, rising to $44 billion with the close of a $750 million round in June 2026.

Current backers include Lightspeed Venture Partners, D1 Capital Partners, Bessemer Venture Partners, Robinhood Ventures, Stripes, Goldman Sachs Alternatives, Morgan Stanley Investment Management, T Rowe Price, and ICONIQ, among others.

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Now providing more than 70,000 businesses with corporate cards, expense management software, and bill payment tools, Ramp has executed a series of strategic moves in recent months to increase its valuation and market scope.

These include the acquisitions of travel platform Juno and payments platform Billhop, through which New York-headquartered Ramp has now secured payment licenses in the UK and Sweden.

Following the integration of these entities, the company officially launched its financial platform to UK-headquartered businesses in September 2026, marking its first major operational expansion outside North America.

Ramp was founded by Gene Lee, Karim Atiyeh and CEO Eric Glyman in 2019. Atiyeh and Glyman previously sold their price-tracking start-up Paribus to Capital One in 2016. Capital One notably acquired Ramp competitor Brex for $5.15 billion earlier this year.

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