Fintech startup Ramp has successfully completed a Series E funding round, raising $500 million in investments at a company valuation of $22.5 billion. The main investor was the Iconiq fund, joined by Founders Fund and D1 Capital Partners.
This is reported by Finway
Investments in Team Development and AI Agent Implementation
The company plans to use the funds to expand its team of engineers and product specialists, as well as to actively promote its own financial AI agents. As noted by Ramp’s CEO and co-founder Eric Glyman, the latest solutions already enable the automation of everyday financial processes—from preparing expense reports to managing procurement.
“According to him, such solutions are already helping companies automate routine processes—from expense reporting to procurement management.”
Since launching its first AI agent in July of this year, thousands of clients have already joined in testing the innovative platform. In particular, at Quora, Ramp’s AI agent performs the functions of an entry-level accountant, checking employee expenses for compliance with company policy.
Automation of Financial Data Processing and Startup Growth
Ramp utilizes data from Gmail and Google Calendar to analyze transactions and, if necessary, clarifies information through SMS inquiries to employees. The system automatically codes expenses and checks them for compliance with the internal policies of companies, significantly enhancing the efficiency of financial departments.
As of July 2025, Ramp serves over 40,000 companies, including representatives from the Fortune 100 list. In March 2025, the startup’s annual revenue reached $700 million, and at the beginning of the year, the company was able to achieve positive cash flow.
At the same time, Ramp faces competition from players like Brex, SAP, and American Express, who are also actively implementing AI solutions for financial automation. Experts note that CFOs still need to be convinced of the practical benefits of new technologies, and it will be important for Ramp to demonstrate the effectiveness and reliability of its tools.