- The Series E round was led by Iconiq, with participation from Founders Fund and D1 Capital.
- The investments will be used to expand the team and enhance AI agents.
- Ramp serves over 40,000 companies and generates hundreds of millions of dollars in revenue.
Major Investment for Fintech Startup
The fintech company Ramp, specializing in corporate finance automation, has announced the raising of $500 million in a Series E funding round. Following the deal, the startup received a valuation of $22.5 billion. The main investor was Iconiq, with Founders Fund and D1 Capital Partners also participating in the deal.
This is reported by Business • Media
According to Ramp’s CEO and co-founder Eric Glyman, the funds raised will be directed towards expanding the development and product specialist teams, as well as advancing and promoting innovative AI agents. These solutions already enable companies to automate routine financial operations—from expense reporting to procurement oversight.
“Ramp has reached a new valuation: $22.5 billion. To our 40,000+ customers: we’re deeply grateful for you trusting us with your finances. To our team: we still serve just 1.5% of businesses in the US. 98.5% to go.”
Functionality of AI Agents and Development Plans
Ramp notes that after launching its first AI agent in July 2025, thousands of clients signed up to test the technology. Among the users is Quora, where the AI agent is already replacing entry-level accountant functions by automating the verification of employee expenses according to corporate policies.
The Ramp system integrates with Gmail and Google Calendar for transaction analysis and can also clarify details with employees via SMS. Automatic compliance checks of expenses against company policy and automatic coding help improve the efficiency of finance departments.
Since its founding in 2019, Ramp has served over 40,000 companies, including several from the Fortune 100 list. By March 2025, the company’s annual revenue reached $700 million, and at the beginning of this year, Ramp achieved positive cash flow.
Despite its rapid growth, Ramp faces competition from major players such as Brex, SAP, and American Express, who are also implementing AI agents in the financial sector. Analysts point out that for many CFOs, the actual effectiveness of such tools still needs to be proven. Ramp must confirm the reliability of its solutions and the justification of investments for further market growth.