Ramp Raises Series F at $44 Billion Valuation

Ramp said Thursday it raised a $750 million primary financing round at a $44 billion valuation, marking a major jump in the fintech company's latest late-stage funding round.

The Series F was led by ICONIQ, GIC and Ontario Teachers' Pension Plan, according to the company's announcement. Ramp said the new capital will support further investment in AI products and help expand offerings including Stack.

The company said it now has more than $1 billion in annualized revenue and is generating positive free cash flow.

The round follows earlier reporting in May that Ramp was in talks to raise $750 million at a valuation above $40 billion. The company has now confirmed the financing publicly.

Ramp has leaned heavily into an AI growth pitch as investors continue to back fintech companies that can show both strong revenue growth and clear product expansion opportunities.