Fintech Startup Ramp Hits $22.5B Valuation, Raises $500M

US-based fintech startup Ramp has raised $500 million in a Series E‑2 round, led by Iconiq Capital, valuing the company at $22.5 billion, just 45 days after closing a previous $200M Series E round at a $16B valuation.

Series E investors, including Founders Fund, D1 Capital, GIC, Coatue, Thrive Capital, and Avenir Growth, participated again, alongside new entrants such as Sutter Hill Ventures, Lightspeed Ventures, Google Ventures (GV), and T. Rowe Price Associates.

Ramp CEO Eric Glyman stated the funding will be used to accelerate the deployment of AI agents, which will automate finance tasks like expense approvals, invoicing, policy enforcement, and reporting.

Since 2019, Ramp has raised around $1.9 billion in equity funding.

The travel industry is seeing a growing presence of AI agents. BCD Travel recently announced it will deploy Oversee’s agentic AI across its global operations.