The one space outdoors of AI the place buyers are nonetheless enthusiastic is expense administration fintech, at the very least if Ramp’s 2025 is something to evaluate by. Each few months, Ramp has raised one other giant 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 Collection E-2 at a $22.5 billion valuation led by Iconiq, introduced on July 30. That spherical was only a few weeks after a $200 million Collection E at a $16 billion valuation led by Founders Fund, introduced in mid-June. And that Collection E was simply three months after a $150 million secondary share sale at a $13 billion valuation in March.
In April 2024, Ramp had raised a $150 million Collection D co-led by Khosla and Founders Fund at a $7.65 billion valuation.
With Monday’s spherical, Ramp has raised $2.3 billion in whole fairness financing, it says. And in 2025 alone, the corporate leapt from being value $13 billion to $32 billion.
Ramp in October mentioned it had surpassed $1 billion in annualized income, that means it was on a trajectory to herald that a lot on a 12-month foundation.
Ramp in the present day provides company expense administration. Whereas it has an AI story to inform — automating some approvals and processes by way of agentic choices — it isn’t an AI firm per se. It provides company bank cards, expense administration/buy order software program, and company journey. The corporate says it has surpassed 50,000 prospects.
