Ramp, the US spend management platform serving businesses with expense, payments and fraud tools, has reportedly secured $1.85bn in fresh capital at a $60bn valuation. 

According to PYMNTS, Bloomberg News reported the round on Friday 9 October, citing people with knowledge of the deal. According to those sources, the $60bn figure is a pre-money valuation, meaning it does not count the newly raised capital.

The valuation marks a sharp rise in a short period. In September, Bloomberg revealed that Ramp had begun preliminary discussions about a $60bn price tag. That came only months after the company closed a $750m Series F in June, which valued it at $44bn.

Ramp’s momentum also stands out against the rest of its market. Bloomberg described it as by far the most valuable startup in corporate spend management. Its nearest competitor, Brex, was bought by Capital One earlier in 2026 for $5bn.

Ramp was established in 2019 and sells a suite of finance products to businesses, covering expense reporting, payment processing and fraud detection. In June, it said its customer base had reached 70,000 firms, compared with 50,000 at the beginning of 2026. Bloomberg reported that its annualised revenue had passed $1.5bn at that point.

When it announced the Series F, Ramp disclosed that total payment volume (TPV) had climbed roughly 170% year on year in March, its fastest rate of expansion in three years. The company achieved this despite having grown twentyfold over the previous three years.

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