The one space outdoors of AI the place buyers are nonetheless enthusiastic is expense administration fintech, at the least if Ramp’s 2025 is something to guage by. Each few months, Ramp has raised one other massive sum at one other big new valuation. On Monday, the fintech introduced it had raised $300 million led by Lightspeed, which additionally included an worker tender provide.
That is only a few months after a $500 million Sequence E-2 at a $22.5 billion valuation led by Iconiq, introduced on July 30. That spherical was only a few weeks after a $200M Sequence E at $16 billion valuation led by Founders Fund, introduced in mid-June. And that Sequence E was simply three months after a $150 million secondary share sale at a $13 billion valuation in March.
Previous to 2025, Ramp had beforehand raised in April 2024 a $150 million Sequence D co-led by Khosla and Founders Fund at a $7.65 valuation.
With Monday’s spherical, Ramp has raised $2.3 billion in complete fairness financing, it says. And in 2025 alone, the corporate leapt from being price $13 billion to $32 billion.
Ramp in October stated it had surpassed $1 billion in annualized income, which means it was on a trajectory to herald that a lot on a 12-month foundation.
Ramp at this time gives company expense administration. Whereas it has an AI story to inform – automating some approvals and processes through agentic choices – it isn’t an AI firm per se. It gives company bank cards, expense administration/buy order software program, and company journey. The corporate says it has surpassed 50,000 prospects.
