Ramp, the corporate card and spend management company, is in early talks to raise new funding at a valuation of roughly $60bn. That would put it $16bn above the valuation it reached just three months ago.
Rebecca Torrence and Natasha Mascarenhas of Bloomberg reported the talks on 8 September, citing people familiar with the efforts. One of them said Ramp is considering raising about $1bn in primary funding. The people said the talks are ongoing and the details could change. Ramp declined to comment to Bloomberg, and TNW has not independently verified the report.
In June, Ramp raised a $750m Series F at $44bn, led by ICONIQ, GIC and Ontario Teachers’ Pension Plan. A $60bn price would mark a rise of about 36% since then. In April 2024, the company was valued at $7.65bn.
Ramp has raised $3bn in total so far. Its backers include ICONIQ, Thrive Capital and Founders Fund, according to Bloomberg.
The June numbers came from Ramp itself. It said then that it served more than 50,000 customers and handled more than $100bn in annual purchase volume. It also said its total payment volume grew about 170% year on year in March, its fastest rate in three years.
