Ramp Raises US$750m to Build Gen AI Infrastructure

As Ramp continues to accelerate its mission of saving companies time and money, the median Ramp customer is saving 50% more dollars and 32% more hours year-over-year. 

These savings more than double for users leveraging the full platform suite, as of May 2026.

The massive value surge is driven by aggressive product velocity. In just the past few months, Ramp shipped more than 70 products and features. 

The business finalised the strategic acquisitions of Billhop and Juno to anchor an upcoming European expansion. It also deepened its Visa partnership to enable AI agents to execute autonomous corporate payments.

To fuel this next phase of growth, the company announced a US$750m primary financing round led by ICONIQ, GIC and Ontario Teachers' Pension Plan. This investment values the company at US$44bn.

Eric Glyman, Co-Founder and CEO of Ramp, says: “For 500 years, business ran on two pillars of spend: people and vendors. In the last 24 months, a third arrived – intelligence, paid by the token and invisible to every system we've built to manage cost. Ramp is the infrastructure for the third pillar.”

AI economy drives payment volume

Despite scaling to roughly 20 times its previous size, Ramp accelerated its Total Payment Volume by approximately 170% year-over-year in March 2026. This marks its highest growth rate in three years.

This surge is fueled by a strategic expansion into entirely new categories. These include token spend management to tackle the fastest-growing cost in modern business. 

Additionally, Ramp is entering the accounting firm market for the first time through its new platform, Stack. This positions the company as the primary infrastructure for managing emerging AI-driven expenses.

Launching automated accounting tools

Ramp developed a suite of features to provide businesses with oversight of complex digital costs:

• Ramp Stack: The AI operating system built for today's top accounting firms
• Gen AI token spend management: Visibility and control over complex AI costs
• Ramp Budgets: Real-time budget tracking across every corporate team
• Procurement agents: Automated purchasing from the initial request to final payment
• Accounting agents: Autonomous close and financial reconciliation workflows
• Ramp for Startups: Spend infrastructure built specifically for early-stage companies.

The company applies the same automated focus internally as it does to its product suite, investing heavily in proprietary tools to streamline its own operations. 

This includes Inspect, an internal software factory responsible for writing more than two-thirds of the company's code base. 

Additionally, Ramp deployed Glass, an all-in-one AI workspace that equips every team from engineering to legal, driving internal AI adoption to an impressive 99.5%.

Finance undergoes biggest structural change

The funding round attracted wide support from major global financial institutions. New investors include Goldman Sachs Alternatives, D.E. Shaw & Co, Morgan Stanley Investment Management, Generation Investment Management, Insight Partners and BroadLight Capital.

Previous investors who participated are Founders Fund, Lightspeed Venture Partners, D1 Capital Partners, T. Rowe Price, General Catalyst, Alpha Wave Global, 137 Ventures, Thrive Capital, Coatue, Sands Capital, Khosla Ventures, 1789 Capital, Avenir Growth, BoxGroup, 8VC, Pinegrove Venture Partners, Definition Capital and Stripes.

The massive capital influx will help the fintech brand scale its infrastructure globally. Eric adds: “We're growing as fast as we were three years ago, at roughly twenty times the size.

“And 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.”