Financial operations platform Ramp has announced that it has raised USD 500 million in a Series E-2 round, reaching a valuation of USD 22.5 billion.
Led by ICONIQ, the round also saw participation from Founders Fund, D1 Capital Partners, GIC, Coatue, Avenir Growth, Thrive Capital, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Altimeter, Definition Capital, 137 Ventures, General Catalyst, and Stripes. In Addition to existing investors, Ramp received support from new ones, such as Sutter Hill Ventures, Lightspeed Ventures, T. Rowe Price Associates, Inc., GV (Google Ventures), Emerson Collective, Operator Collective, and Pinegrove Capital Partners.
Advancing AI in financial services
The Series E-2 follows Ramp’s Series E funding round from June 2025, when the company secured USD 200 million from several investors. The firms aimed to develop a financial operations platform for its clients that automated demanding and repetitive tasks, while the capabilities of staff can be directed toward innovation.
With this additional capital, Ramp has raised USD 1.9 billion in total equity financing, according to the company’s data, and began generating cash flow earlier in 2025. With the newly acquired funding, Ramp aims to further accelerate its development and enhance AI capabilities within financial services. Based on its balance sheet and core business, the company intends to expand its presence in AI-related areas. Ramp recently launched its AI agents, which are autonomous finance agents purpose-built for real-world policy enforcement, fraud detection, and policy improvement. At the time of the rollout, the agents were available for Ramp Plus users. Over the upcoming period, the company was set to release procurement, intake, and vendor-onboarding agents, reconciliation agents, and budgeting and reporting agents.
Furthermore, in April 2025, Ramp also released a solution as a response to advances in AI image generation that would simplify the creation of fake receipts that could be leveraged for financial fraud. Now, by continuing to focus on the AI space, Ramp seeks to further solidify its position in the market and optimise its capabilities to serve the needs of its users.
