Fintech firm Ramp is reportedly in discussions that could push its valuation to $60 billion. This potential milestone comes only months after the company secured $750 million in a Series F funding round in June, which valued the business at $44 billion.
The company's valuation has seen rapid growth over the past year. In November, Ramp was valued at $32 billion following a $300 million financing round and an employee tender offer. By the time of its June funding, the firm had raised over $3 billion in total equity capital.
Ramp reported a 170% year-over-year increase in total payment volume as of March. CEO Eric Glyman noted that the company is currently 20 times larger than it was three years ago, attributing this expansion to the structural shift in corporate finance and the demand for AI-ready infrastructure.
Beyond core expense management, the company is expanding its AI product suite. In August, it launched Router.com, a tool designed to optimize AI model selection. Internal testing showed a 30% reduction in AI costs, while early customer data suggests an average cost saving of 40%.
Additionally, the firm introduced Ramp Stack in June, an AI-driven system tailored for accounting firms. The platform is designed to automate workflows, including financial closing processes, while maintaining full auditability and oversight for users.
