By Rebecca Torrence | Updated on Oct 09, 2026 at 09:36 PM
Fintech startup Ramp has reached a roughly $60 billion valuation with its latest fundraising effort, according to people familiar with the matter.
Dragoneer Investment Group and Thrive Capital led the round, with Founders Fund also contributing a large check, the people said, who asked not to be identified because the matter is private. The company brought in about $1.85 billion in the round, another person said.
The $60 billion valuation is pre-money, the people said, meaning it doesn’t include the capital raised.
Ramp declined to comment. Dragoneer, Founders Fund and Thrive Capital did not immediately respond to requests for comment.
Bloomberg first reported Ramp was in early talks for a $60 billion valuation in September. The company just raised $750 million in June at a $44 billion valuation.
The New York-based startup, founded in 2019, offers an array of finance-focused products to businesses, from expense reporting and payments processing to artificial intelligence-powered fraud detection.
Ramp said in June that it was working with 70,000 businesses, up from 50,000 at the beginning of the year. At the time, Bloomberg reported that the company’s annualized revenue had passed $1.5 billion.
Since the latest fundraising round, Ramp has been exploring new uses for AI in its business. It released a tool in August to route tasks through lower-cost models where possible and also is considering training its own AI models for the first time.
Ramp is by far the highest valued startup focused on corporate spending management. Brex, previously Ramp’s closest startup competitor, sold to Capital One Financial Corp. for $5.15 billion earlier this year.