Ramp secures $500m to expand AI automation

By Vriti Gothi

Ramp, a FinTech platform, has raised $500 million Series E-2 funding round led by ICONIQ Growth, bringing the company’s valuation to $22.5 billion, positioning Ramp at the feration financial infrastructure and automation.

This latest capital infusion comes amid early signs of renewed momentum in the FinTech sector, bringing Ramp’s total equity financing to $1.9 billion. Participating investors in the round include leading global firms such as Founders Fund, GIC, Coatue, Thrive Capital, and General Catalyst, underscoring strong market confidence in Ramp’s long-term vision and operational trajectory.

Founded in 2019, Ramp has rapidly established itself as a mission-driven platform dedicated to redefining business finance. The company offers an integrated suite of solutions, including corporate cards, payments, and real-time expense management tools. Ramp currently powers tens of billions of dollars in annual purchase volume across a customer base of over 40,000 companies, spanning sectors from real estate to defence technology, including names such as CBRE and Anduril.

Central to Ramp’s future-forward strategy is the acceleration of its autonomous AI agents, unveiled earlier this month. These AI-powered capabilities are designed to flag potential fraud intelligently, dynamically update company policies, and streamline transaction reviews and approvals, enabling finance teams to move faster, reduce operational overhead, and drive greater control across workflows.

Will Petrie, Chief Financial Officer, Ramp, said, “We’re focused on ensuring our only constraint is the scale of our ambition.”

Ramp also revealed it began generating positive cash flow earlier this year, a milestone that reinforces both the sustainability of its model and the strength of its growth trajectory.

With this strategic funding, Ramp is poised to deepen its investment in AI, scale its platform capabilities, and continue delivering intelligent, customer-centric financial tools designed for the modern enterprise.

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