Major Fundraising Round: $500 Million in Series E-2, Valuing Financial Operations Platform at $22.5 Billion
In a significant move, Ramp, a leading financial operations platform, has completed a $500 million Series E-2 funding round. This fresh injection of capital will enable the company to scale its AI capabilities and support enterprise customers globally [3][4].
Founded in 2019, Ramp initially focused on corporate finance automation [2]. Over the past six years, the company has assembled what industry insider Will Petrie believes to be the best engineering and design teams in the industry [8]. Today, Ramp serves over 40,000 businesses, including Shopify and Notion, and has saved customers more than $10 billion and recovered over 27.5 million hours of manual work [1].
Ramp's platform integrates corporate cards, expense management, bill payments, procurement, and travel booking, streamlining financial operations for businesses. The company's unique selling point is its AI agents, currently being used by finance teams at Notion, Webflow, and Quora, among others [6]. These AI agents are responsible for reviewing, approving, coding transactions, flagging fraud, and updating policies [5].
One of the most exciting developments for Ramp is its plans to launch stablecoin-backed corporate cards for cross-border transactions. Initially, these cards will be rolled out in select Latin American markets before expanding to Europe, Africa, and Asia in partnership with Stripe [1]. This initiative aims to simplify and stabilize cross-border transactions, addressing inefficiencies such as long settlement times, high fees, and currency risk.
Ramp's growth strategy appears to be strongly focused on leveraging AI-driven automation for corporate finance. This strategic approach is evident from the substantial funding rounds the company has secured, including the recent $500M Series E in 2025 at a $22.5B valuation [3][4].
The funding round was led by ICONIQ Capital and attracted new and existing investors such as Founders Fund, D1 Capital Partners, and T. Rowe Price Associates [7]. According to Will Petrie, the Chief Financial Officer at Ramp, the reason for raising another $500 million is due to a unique moment in finance, marking a new beginning [9]. With total equity funding reaching $1.9 billion, Ramp is well-positioned for potential international expansion and strategic acquisitions.
However, no public timeline or details on acquisition targets were identified in the search results. Ramp's international expansion is driven by product innovation and strategic partnerships rather than confirmed acquisitions. By 2027, Ramp aims to increase efficiency by 30 times as their agents start working in parallel, enabling businesses to get 3 times more done per minute compared to two years ago [4].
Ramp's recent cash-flow positivity, a rare feat for a high-growth tech company, further underscores the company's financial strength and stability [2]. The company's focus on AI to reshape the future of finance is an exciting development in the financial technology sector, and Ramp's success is a testament to the potential of AI-driven automation in streamlining corporate finance operations.
[1] https://techcrunch.com/2025/03/15/ramp-stablecoin-corporate-cards/ [2] https://www.businessinsider.com/ramp-raises-300m-to-accelerate-expansion-into-new-categories-2023-3 [3] https://www.reuters.com/business/finance/ramp-raises-500m-series-e-2-funding-2025-09-14/ [4] https://www.wsj.com/articles/ramp-raises-500m-in-series-e-2-funding-led-by-iconiq-capital-11663784718 [7] https://www.iconiq.com/news/ramp-series-e-2/ [8] https://www.ramp.com/about/ [9] https://www.ramp.com/blog/ramp-raises-500m-in-series-e-2-funding-led-by-iconiq-capital/
- Utilizing the funds from the recent Series E-2 financing round, Ramp plans to boost its artificial-intelligence capabilities in business, further expanding its AI agents' functionalities for enterprise clients.
- As Ramp envisions its future growth, the tech-focused financial operations platform aims to incorporate artificial-intelligence and technology into various finance-related tasks, making a significant impact in the financial technology sector.
