Ramp raises $750 million, plans AI spending software – American Banker

Ramp has gained another $750 million in its latest fundraise.
The New York-based corporate spend management platform announced on Thursday that it is now valued at $44 billion, a 38% increase from its $32 billion valuation seven months ago and a 175% increase from its $16 billion valuation this time last year.
The Series F fundraise is the latest move by the corporate finance-focused fintech to expand its operations both domestic and abroad, particularly in building tools to help businesses manage their spending on artificial intelligence.
“Companies have always dealt with capital and always had to manage people, and for the first time every company is thinking about how to manage intelligence,” Adam Sommer, Ramp’s product management director, said during a panel discussion with London and Partners in New York on Tuesday. “It is a new asset class, the line item on the financial statement that every CFO is thinking about right now. Our largest AI spenders at Ramp are seeing their spend double month-over-month for the last several months.”
Sommer went on to say that Ramp is building a system for managing AI token spend, referring to the company’s Token Spend Management product, which was launched for early access only in April of this year.
“We’re growing as fast as we were three years ago, at roughly twenty times the size,” Ramp co-founder and CEO Eric Glyman said in a statement. “That’s because finance is going through the biggest structural change since the spreadsheet. Every company needs infrastructure to navigate an AI economy, from a CFO in London to an accounting firm in Wichita. While we’re growing fast, we still only serve a fraction of the market. There’s a lot more work to do.”
The company reported $1 billion in annualized revenue as of June 1, 2026, with over 70,000 enterprise customers and $200 billion in annualized purchase volume. (Ramp does not include bank transfers or non-monetized payments when calculating Total Purchase Volume.)
Ramp has also recently invested in building internal AI tools to democratize AI usage such as Inspect, an internal software factory that writes more than two-thirds of Ramp’s code, and Glass, which gives every employee a fully configured AI workspace and helped the company reportedly reach 99.5% AI adoption.
With this round Ramp has raised over $3 billion in total equity financing, including another $750 million funding round led by Founders Fund back in 2022.
PitchBook’s fintech VC trends report for Q1 2026 found that globally, fintech startups raised $11.5 billion across 563 deals in the quarter. Deal value went up by 46.3% year over year, even as deal count was down 6.2% year over year.
“Ramp’s valuation going from $32 billion to $44 billion in seven months tells us something about where investor conviction is heading,” PitchBook analyst Rudy Yang told American Banker. “The company is building infrastructure to enable enterprises to measure and control their demand for intelligence at a critical time, as a new agent-powered economy rises. When token spend shows up in the budget lines for every enterprise, the ability to track and optimize it only gets more valuable.”
The corporate finance fintech now has a $44 billion valuation and is building out an AI token spend management offering for its 7,000-plus enterprise customers.
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