Ramp is currently in early discussions to secure approximately $1 billion in a Series G funding round. If successful, this investment would value the corporate spend management firm at nearly $60 billion. This potential valuation represents a 36% increase over the $44 billion figure reached just three months ago in June.
The company has demonstrated rapid financial growth, with annualized revenue exceeding $1.5 billion as of early June, compared to $1 billion in the previous September. In March 2026, the total payment volume increased by 170% year-over-year. Since its inception in 2019, Ramp has raised over $3 billion in equity.
Ramp now serves more than 70,000 corporate clients, including companies such as Visa, Uber, Shopify, Anduril, Figma, and Notion. The platform has expanded from a basic corporate card into a comprehensive suite that includes procurement, treasury management, and AI agents designed to automate financial monitoring and bookkeeping.
In June, the company restructured its leadership, appointing Karim Atiyeh as co-CEO alongside Eric Glyman, while Rahul Sengottuvelu transitioned to the role of CTO. This shift aligns with the company's focus on AI-driven financial operations. Ramp's valuation history shows significant volatility, dropping to $5.8 billion in 2023 before climbing to current levels.
In contrast to Ramp's growth, its competitor Brex recently agreed to be acquired by Capital One for approximately $5.15 billion, which is significantly lower than its 2022 peak valuation of $12.3 billion. Meanwhile, the global expense management software market is projected to grow from $7.6 billion in 2024 to $22.5 billion by 2030.
