Ramp, the US-based financial technology company, announced the successful close of its $500 million Series E-2 funding round, bringing its valuation to $22.5 billion, according to a statement released Wednesday. The round was led by ICONIQ, with participation from other investors.
Founded in 2019 by Eric Glyman, Gene Lee, and Karim Atiyeh — who is of Lebanese origin — Ramp provides an AI-driven suite of solutions including corporate cards, payment systems, and expense management software. The company aims to digitize and streamline financial operations for businesses, enabling faster decision-making and more efficient cost control.
Ramp currently serves over 40,000 businesses, including Shopify, CBRE, and Notion, with a platform designed from the ground up to support automated financial operations.
Over the past 15 months, Ramp has demonstrated remarkable valuation growth, rising from $7.65 billion in April 2024 to $13 billion in March 2025, followed by $16 billion in June, and finally reaching $22.5 billion by July 2025 — reflecting strong investor confidence and the company’s accelerating momentum.
With this round, Ramp’s total equity funding reaches $1.9 billion, positioning it among the top-funded FinTech startups globally.
According to ICONIQ, this funding deepens a long-standing partnership with Ramp that began five years ago, when the founding team impressed them with a vision to save time and money for finance teams — a principle first demonstrated in their earlier startup, Paribus, which was acquired by Capital One.
ICONIQ emphasized that what sets Ramp apart is its deeply integrated automation — not as an add-on, but as part of the platform’s core architecture.
The company’s newly launched AI agents are already live and operational, serving clients such as Notion, Webflow, and Quora. These agents perform key real-time tasks such as approving expenses, detecting fraud, updating company policies, and answering employee inquiries — showcasing Ramp’s commitment to intelligent, embedded financial workflows.
This isn’t about marginal efficiency gains — it’s about reshaping how finance operates. Ramp envisions a future of autonomous finance, and according to ICONIQ, it’s actively building that future now.
ICONIQ further praised Ramp’s internal culture, citing its strong commitment to product excellence, customer-centricity, and disciplined execution — describing it as “one of the rare few that combine speed with thoughtful execution.”
