Enterprise AI Payment Platform Ramp Secures $750 Million in Funding, Valuation Rises to $44 Billion

Odaily Planet Daily News – Enterprise AI payment and financial management platform Ramp announced the completion of a new $750 million funding round, bringing its post-money valuation to $44 billion. The round was led by ICONIQ, GIC, and Ontario Teachers' Pension Plan, with participation from Goldman Sachs Alternatives, D.E. Shaw, Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and others. Ramp stated that the company is expanding its business into the AI cost management sector, launching an AI Token expense management tool to help businesses monitor and control expenditures related to large models and AI services. In recent months, Ramp has completed two acquisitions: UK and European payment platform Billhop and business travel platform Juno. Additionally, it has deepened its long-term partnership with Visa to enable AI agents to autonomously execute corporate payments within a real-time risk control framework. Ramp disclosed that its internal AI tools have achieved a 99.5% adoption rate among employees, with its internally developed platform Inspect now generating over two-thirds of the company’s code. The company plans to use this round of funding to further expand its product offerings and accelerate its expansion into the UK and European markets. (PRNewswire)