Ramp, a leading fintech company specializing in corporate cards, payment services, and expense management applications, has announced a successful $500 million funding round that brings its valuation to a remarkable $22.5 billion. The funding round was led by investment firm ICONIQ and sets a new benchmark for late-stage fintech fundraising in 2025. This achievement highlights sustained investor confidence in Ramp’s rapid growth and business model, just over a month after reaching a $16 billion valuation in its Series E round[3].
Ramp has quickly evolved since its inception, expanding its platform beyond core expense management to offer integrated solutions for travel management, bill pay, and treasury products. The company’s commitment to technology is exemplified by its significant investment in research and development, with over 50% of payroll allocated to advancing its AI-driven capabilities[5].
ICONIQ led the latest funding round, joining a roster of high-profile backers including Founders Fund, Sands Capital, Khosla Ventures, General Catalyst, Stripe, Citi, and Sequoia Capital[1][3]. This latest investment brings Ramp’s total equity financing to $1.9 billion.
Ramp’s swift ascent comes amid a broader rebound in the fintech sector, highlighted by other major events such as the public debut of digital bank Chime. Ramp’s strategy of continuous product expansion and its strong focus on AI-powered automation underscore its ambition to remain at the forefront of finance innovation.
With the latest valuation, Ramp cements its place as one of 2025’s most valuable private fintechs, demonstrating both the vitality of the sector and investor appetite for next-generation financial infrastructure[3].
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