Fintech Ramp valued at US$16 billion in late-stage funding round
A man holds a phone and a banking card in this undated stock image. (Mikhail Nilov/Pexels.com)
Ramp was valued at US$16 billion in its latest funding round, the financial technology startup said on Tuesday, signaling renewed investor interest in financial platforms that offer digital and artificial intelligence-based services.
The startup, which offers corporate cards, payment services and expense management applications, secured US$200 million in its series E round led by Founders Fund.
The round also saw participation from other high-profile venture capital firms such as Thrive Capital, D1 Capital Partners, General Catalyst and GIC.
After a years-long funding slump, fintech startups are attracting fresh interest from investors, buoyed by signs of stabilizing valuations, clearer regulatory signals and renewed demand for digital financial services.
From payments to lending and crypto infrastructure, firms across the fintech sector are seeing a revival in venture funding rounds and strategic backers. But VC firms are cautious, limiting backing to select high-growth companies with clearer paths to scale and profitability.
Ramp has also woven artificial intelligence into its services. The technology has emerged as a standout theme in Wall Street's tech investing this year.
Founded in 2019, Ramp enables tens of billions in purchases annually and serves over 40,000 customers, from family farms to space startups, according to the company.
Its customers include e-commerce platform Shopify, commercial real estate services and investment firm CBRE and defense technology company Anduril. Ramp says its products help businesses eliminate repetitive administrative tasks and operate more efficiently.
The latest round brings Ramp's total equity financing to US$1.4 billion.
Other investors in the latest fundraise included ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, and Lux Capital, among others.
Global startup funding rose 17 per cent in the first quarter of 2025 from the previous quarter, and was up 54 per cent from a year earlier, according to data from Crunchbase.
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Reporting by Manya Saini in Bengaluru; Editing by Shilpi Majumdar and Leroy Leo
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