Ramp funding round hits $1.85 billion at $60 billion value

Ramp has closed a $1.85 billion primary financing round that values the company at $60 billion, the fintech announced on Oct. 15, 2026. Dragoneer Investment Group led the round, with Thrive Capital, Founders Fund, Sands Capital and Avenir Growth joining as co-leads. The new ramp funding round is one of the largest private technology financings of the year and takes Ramp's total equity raised since its 2019 founding to about $5 billion.

More than two dozen investors took part in the ramp funding round, Ramp said in its release. They include Capital International, Fidelity Management & Research Company, T. Rowe Price, D1 Capital Partners, Greenoaks, ICONIQ, GIC, 8VC, 1789 Capital, Alpha Wave Global, Ontario Teachers' Pension Plan, Coatue, D.E. Shaw, Definition Capital, FirstMark, General Catalyst, Generation Investment Management, Glade Brook Capital Partners, Khosla Ventures, Lightspeed Venture Partners, Pinegrove Opportunity Partners, Soma Capital and Stripes.

Christian Jensen, a partner at Dragoneer Investment Group, said Ramp is the kind of company his firm loves to back. "Ramp is already a market leader with a deep, durable moat, and it's still growing incredibly fast," he said. He added that Dragoneer believes Ramp is becoming one of the defining companies of this era, with AI embedded in how it builds and operates.

What the ramp funding round includes

The release did not say whether the $60 billion valuation applies before or after the new money. The Next Web's account of the Bloomberg report called it pre-money. Bloomberg first reported the ramp funding round on Oct. 9, citing people familiar with the matter, and Ramp confirmed it six days later. A company spokesperson had declined to comment on the earlier report.

Revenue passes $2 billion as ramp valuation climbs

Ramp said it now generates more than $2 billion in annualized revenue, with positive cash flow. Revenue is growing 25 percent faster now than at the same time last year, the company said. Ramp's stated annualized revenue has doubled since June, when it stood above $1 billion. The ramp valuation has climbed through two earlier raises this cycle: $300 million at a $32 billion valuation in November 2025 and $750 million at a $44 billion valuation in June 2026.

Enterprise customers are a growing share of the business. The number of customers generating more than $100,000 in revenue rose 113 percent year over year. Ramp now serves more than 85,000 businesses, including Visa, Uber, Shopify, Robinhood, Fanatics, Notion, Cursor, the Denver Broncos and the Boys & Girls Club. They manage more than $275 billion in annualized purchase volume through Ramp, up 175 percent year over year.

The ramp funding round follows a year of fast growth

Founded in 2019, Ramp began with corporate cards and expense management software and has added bill payments, procurement and other finance tools. The company says it helps businesses get more value from every dollar, hour and token. Reports say Ramp plans to introduce more AI tools to help customers manage costs, and the money from the ramp funding round gives it room to build.

A crowded field in corporate spend management

The ramp funding round caps a busy year for corporate spend management. Ramp's closest rival, Brex, sold to Capital One earlier this year. Ramp's own figures show annualized purchase volume rising from $200 billion in June to more than $275 billion in October, and total equity raised moving from over $3 billion to about $5 billion.

With the ramp funding round closed, Ramp said its revenue figure includes interchange, subscription, interest and other revenue, and excludes incentives paid to customers. The company did not give a directly comparable year-over-year revenue growth percentage.