Ramp raises $1.85 billion in funding round at $60 billion valuation

New York-based corporate spend management and payment software developer Ramp raised approximately $1.85 billion in a new capital round, according to a report published by FinSMEs on October 12, 2026. The transaction values the financial operations software platform at $60 billion on a pre-money basis.

Investment firms Dragoneer Investment Group and Thrive Capital co-led the financing round. Venture capital firm Founders Fund also participated in the transaction, committing a significant amount of capital to the funding round.

The deal comes four months after Ramp completed another major capital raise in June 2026. During that previous transaction, the financial operations enterprise secured $750 million at a pre-money valuation of $44 billion. The new $1.85 billion funding round increases the valuation of the corporate platform by $16 billion since the June fundraising effort.

Financial Operations Platform and Growth Metrics

Founded in 2019, Ramp operates out of its headquarters in New York City under the leadership of co-founders Eric Glyman and Karim Atiyeh. The company provides financial operations software to corporate clients looking to manage enterprise expenditures and payment workflows.

The platform offers corporate credit cards alongside automated tools for expense reporting, business payment processing, and automated fraud detection systems. In recent months, Ramp expanded its software portfolio by launching specialized task routing tools designed to help client companies lower operational task costs across their financial departments.

The financial technology firm currently serves more than 70,000 corporate clients globally. Financial metrics released by the company show that Ramp surpassed an annualized revenue run rate of $1.5 billion by mid-2026, driven by expanded adoption among commercial users.

Use of Proceeds and Future Strategy

According to report details published by FinSMEs, Ramp intends to direct the newly raised $1.85 billion toward three primary operational objectives. First, the organization plans to expand its internal engineering capabilities by increasing its technical workforce and expanding engineering operations.

Second, Ramp plans to allocate funds to support the rapid scaling of its enterprise customer presence, targeting broader adoption among larger commercial clients. Third, the enterprise plans to use the capital to accelerate its platform transition into an automated software agent ecosystem, building on its recent product releases for financial management and expense control.