This Ramp company profile covers the company's valuation, revenue, funding rounds, investors and history. Ramp works in fintech, with a focus on corporate cards and spend management. It was founded in 2019 and is headquartered in New York, New York, United States. Its latest valuation on record is US$44 billion (June 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.
Revenue
About US$1 billion in annualized revenue — Annualized revenue (reported by Fortune, citing a person familiar with the finances), as of August 2025. Source: Fortune.
| Metric | Value | As of | Source |
|---|---|---|---|
| Annualized revenue (earlier) | About US$700 million | March 2025 | Wikipedia (summarising press reports) |
Funding history
| Date | Round | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| Jun 2026 | Growth round | US$750M | US$44B | See source | Crowdfund Insider |
| Nov 2025 | Equity round + employee tender | US$300M primary | US$32B | Lightspeed Venture Partners (lead) | Crunchbase News |
| Jul 2025 | Series E-2 | US$500M | US$22.5B | ICONIQ (lead) | Wikipedia (summarising press reports) |
| Jun 2025 | Series E | See source | US$16B | Founders Fund (lead) | Wikipedia (summarising press reports) |
Ramp timeline
Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.
- 2019 — Ramp is founded in New York by Eric Glyman (CEO) and Karim Atiyeh.
- Jun 2025 — Series E: See source, valuing the company at US$16B. Investors: Founders Fund (lead).
- Jul 2025 — Series E-2: US$500M, valuing the company at US$22.5B. Investors: ICONIQ (lead).
- Nov 2025 — Equity round + employee tender: US$300M primary, valuing the company at US$32B. Investors: Lightspeed Venture Partners (lead).
- Jun 2026 — Growth round: US$750M, valuing the company at US$44B.
- March 2025 — Annualized revenue (earlier): About US$700 million.
Investors
Overview
Ramp provides corporate cards, bill payments, expense management, procurement and accounting automation to businesses, mostly in the United States. Its pitch is that the software should help companies spend less, not just track spending: it flags duplicate subscriptions, enforces policies automatically, finds savings on software contracts and closes the books faster. Its cards and payment tools sit on top of that software layer.
Eric Glyman, the CEO, and Karim Atiyeh founded Ramp in New York in 2019, after previously building and selling a consumer fintech company together. Ramp has grown extraordinarily fast and is one of the most valuable fintech startups in the US.
How Ramp makes money
Ramp's largest revenue source has historically been interchange: when a business spends on a Ramp card, the merchant pays a fee, and part of that goes to Ramp. That's why Ramp can offer its core software free to many customers. It has also added paid software tiers, bill payment fees, treasury and other financial products, which diversify revenue beyond card spending.
The model depends on growing the amount businesses spend through Ramp. Every new customer and every expansion of an existing customer's spending increases revenue directly, so revenue tends to track customer growth and the overall business spending environment.
Revenue and growth
Ramp's revenue figures have come from press reports and company statements:
- March 2025: about US$700 million in annualized revenue.
- August 2025: about US$1 billion in annualized revenue, according to Fortune, citing a person familiar with the company's finances.
Going from US$700 million to US$1 billion in roughly five months is very fast growth for a company of that size. Because the August figure was reported through a source rather than announced formally by the company, we note that in the data above.
Funding history
Ramp raised money at a remarkable pace in 2025, with its valuation doubling within months:
- June 2025, Series E: led by Founders Fund at a US$16 billion valuation.
- July 2025, Series E-2: US$500 million led by ICONIQ at a US$22.5 billion valuation.
- November 2025: US$300 million of primary capital led by Lightspeed Venture Partners, plus an employee tender offer, at a US$32 billion valuation.
Later reports described talks for further funding at even higher valuations, but we haven't confirmed those terms or whether they closed, so they're not in the table above.
Raising three times in one year, each at a higher price, is unusual. It reflects strong investor competition for a company growing quickly at scale, and Ramp's ability to use each round's momentum to set up the next.
Competitive landscape
Corporate cards and spend management are fiercely competitive. Ramp competes with other spend management fintechs, traditional bank corporate cards, American Express, expense management software and accounting platforms adding payment features. Its main differentiators are product speed, a focus on automation and savings, and aggressive expansion into adjacent areas like procurement and accounts payable.
A Canadian comparison is Float, which follows a similar model focused on Canadian businesses. The contrast in scale shows how much larger the US market is, and why Canadian fintechs often focus on serving local needs that US players handle less well.
Why investors like the model
Investors value spend management platforms like Ramp because they combine software and payments. Software makes customers sticky, since finance teams build their processes around it. Payments make revenue grow with customers' activity. And the data that flows through the platform creates opportunities for new products, such as financing, treasury and AI-driven automation. The risk is that interchange revenue depends on the regulatory environment and on business spending levels, which fall in downturns.
What to watch next
Watch revenue growth, the share of revenue coming from software and services rather than interchange, AI features that automate finance tasks, expansion into larger enterprise customers and new countries, and any IPO plans. With multiple funding rounds in quick succession, Ramp's next valuation event will be a closely watched benchmark for US fintech.
Key facts at a glance
Ramp is a New York spend management and corporate card company founded in 2019 by Eric Glyman and Karim Atiyeh. In 2025 it raised a Series E led by Founders Fund at US$16 billion, a US$500 million Series E-2 led by ICONIQ at US$22.5 billion, and US$300 million led by Lightspeed Venture Partners at US$32 billion. Its annualized revenue reportedly grew from about US$700 million in March 2025 to about US$1 billion by August 2025.
Questions to ask when choosing a spend management platform
- How much of the software is free, and which features require a paid plan?
- How does it integrate with your accounting system and ERP?
- Can it handle bills, reimbursements and procurement as well as cards?
- What controls exist for approvals, limits and policy enforcement?
- Does it support the countries and currencies you operate in?
How the US spend management market differs
The US market for business cards and spend software is unusually large and fragmented, with millions of small and mid-sized companies and many specialised software tools. US interchange rules for commercial cards also allow fees that help fund generous rewards and free software, which is harder in markets with tighter fee caps. That's one reason US spend management companies have grown so quickly, and why the same model has to be adapted when it moves to Europe, Canada or Asia, where card fees, banking rules and accounting practices differ. For any company in this space, regulatory changes to interchange would be one of the biggest risks to the business model.
Founders building spend management products outside the US should model their revenue on local card fee rules from day one, rather than assuming US-style interchange economics will carry over.
What this means if you're…
A finance leader: pilot a spend platform with a few teams for a month and measure time saved at close and savings found.
Selling to Ramp: a fast-scaling fintech buys compliance, fraud prevention, data infrastructure and AI tooling.
Tracking funded companies: Ramp's rapid rounds are a textbook example of a company using funding momentum. See our guide to finding recently funded startups.
Latest developments (October 2026)
Ramp raised US$750 million in June 2026 at US$44 billion, and Bloomberg reported on 9 October 2026 that it had raised about US$1.85 billion more at a pre-money valuation of about US$60 billion, led by Dragoneer and Thrive Capital with Founders Fund, according to Crowdfund Insider and FourWeekMBA; Ramp declined to comment. The company has more than US$1 billion in annualised revenue and over 70,000 customers. This supersedes the 2025 valuation described earlier on this page. See our fintech guide.
Sources
Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.
Frequently asked questions
What does Ramp do?
Ramp is a fintech / corporate cards and spend management company headquartered in New York, New York, United States. It was founded in 2019.
What is Ramp's valuation?
Ramp was valued at US$44 billion as of June 2026, according to Crowdfund Insider. Private company valuations are set at funding rounds or share sales and can change significantly between them.
How much revenue does Ramp make?
Ramp reported About US$1 billion in annualized revenue (annualized revenue (reported by fortune, citing a person familiar with the finances)) as of August 2025, according to Fortune.
What was Ramp's latest funding round?
The most recent financing we have verified is a growth round in Jun 2026: US$750M, at a valuation of US$44B. Source: Crowdfund Insider.
Who are Ramp's investors?
Investors named in public announcements include Lightspeed Venture Partners, ICONIQ and Founders Fund.
Who founded Ramp?
Ramp was founded in 2019 by Eric Glyman (CEO) and Karim Atiyeh.
Is Ramp a public company?
No. Ramp is a private company (private, venture backed), so its shares are not traded on a stock exchange and it isn't required to publish its financial results.
Where is Ramp headquartered?
Ramp is headquartered in New York, New York, United States.