Ramp reportedly in talks to raise ~$1B at $60B valuation

Corporate-spend company Ramp is reportedly in early-stage discussions to raise new funding at a valuation of approximately $60 billion — just three months after being valued at $44 billion in June, according to Bloomberg.

Key Details

• The company is considering raising around $1 billion in primary funding.
• The round has not yet closed, and Ramp declined to comment.

Valuation Growth

The reported jump from $44 billion to $60 billion represents a ~36% repricing in a single quarter. This pace reflects not only the company's trajectory but also the broader momentum in the corporate-spend category.

Company Background

Founded in 2019 for expense reporting, Ramp has since expanded into:

• Payments processing
• AI-powered fraud detection

Investors are repricing the opportunity upward every few months.

Funding and Revenue

• Ramp has raised $3 billion to date, including $750 million in June.
• By early June, the company had surpassed $1.5 billion in annualized revenue, per Bloomberg.
• Backed by Iconiq, Thrive Capital, and Founders Fund.

Competitive Landscape

The valuation becomes even more striking in context:

• Ramp's closest competitor, Brex, was acquired by Capital One earlier this year for $5.15 billion.
• A reported $60 billion valuation would put Ramp at more than 10x what Brex sold for.

Outlook

None of it is final until a round closes. But a company repricing from $44 billion to a reported $60 billion in three months is a clear signal of how fast money is moving into corporate spend — and how much investors will pay for the company out in front of it.