Fintech firm Ramp's valuation surges to $44 billion on AI-driven growth

June 4 (Reuters) - Financial technology ‌company Ramp ​said ​on Thursday it had raised $750 million in a new funding round at a $44 billion valuation, up from $32 ‌billion in November.

The valuation jump reflects mounting optimism that ⁠AI can reshape corporate finance by automating tasks such as expense reporting, ‌invoice processing and book-keeping, potentially ‌reducing costs and improving efficiency.

The deal also highlights a broader rebound in fintech, with investors once again backing fast-growing startups ​that they bet can challenge legacy businesses.

Ramp's latest funding round was led by ICONIQ, GIC, and Ontario Teachers' Pension ⁠Plan, with backing from Goldman Sachs Alternatives, D.E. Shaw and Morgan Stanley Investment Management.

Existing ​backers Founders Fund, Lightspeed Venture Partners, D1 Capital Partners, T. Rowe Price and General Catalyst also ​joined the round.

Founded in 2019, the ‌company offers corporate cards, payment services and expense management applications.

Ramp said more than 70,000 organizations, from ⁠family farms and space startups to Fortune 100 companies, use its platform and have saved more than $12 billion and 27 million hours.

Customer benefits ⁠are growing, with data showing the median customer saved 50% more money ​and 32% more time annually in May 2026 than a year earlier, Ramp said. Customers using its full suite of products more than doubled ‌those gains, it added.

"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," said Eric ​Glyman, co-founder and CEO of Ramp, in a statement.

(Reporting by Manya Saini in Bengaluru; Editing by Vijay ‌Kishore)

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