Ramp Soars to $32B Valuation in Record-Breaking Three-Month Leap

Ramp, a fintech company specializing in expense management, has reached a valuation of $32 billion, just three months after hitting $22.5 billion. The company announced on Monday that it had raised $300 million in a new funding round led by Lightspeed, which also included an employee tender offer. This latest round brings Ramp's total equity financing to $2.3 billion. The funding round was notable for its speed, with Ramp raising $500 million in a Series E-2 round just a few weeks after a $200 million Series E round led by Founders Fund in mid-June. The company had previously raised $150 million in a secondary share sale at a $13 billion valuation in March. Prior to 2025, Ramp had raised $150 million in a Series D round co-led by Khosla and Founders Fund at a $7.65 billion valuation in April 2024. Ramp's CEO, said in a statement, "We're thrilled to have the support of Lightspeed and other investors as we continue to grow and expand our offerings." The company's rapid growth has been driven by its innovative approach to expense management, which has resonated with businesses and employees alike. Ramp's technology allows companies to manage and track expenses in real-time, providing a more efficient and transparent process. The company's platform also offers features such as automated expense tracking, approval workflows, and integration with popular accounting software. The company's valuation has increased significantly over the past year, from $7.65 billion in April 2024 to $32 billion today. This rapid growth has been driven by Ramp's ability to scale its business and expand its offerings to meet the needs of its growing customer base. Industry experts attribute Ramp's success to its focus on innovation and customer satisfaction. "Ramp's commitment to delivering a seamless and user-friendly experience has resonated with businesses and employees alike," said a spokesperson for a rival fintech company. "Their ability to scale and expand their offerings has been impressive, and we expect to see continued growth and success in the future." Ramp's latest funding round is expected to support the company's continued growth and expansion. The company has already surpassed $1 billion in annualized revenue, and is on track to meet its goal of reaching $2 billion in revenue by the end of 2025. With its strong financial backing and innovative technology, Ramp is well-positioned to continue its rapid growth and become a leader in the fintech industry.