Ramp Soars to $1B Annualized Revenue Following $22.5B Valuation Boost
Fintech innovator, Ramp, has reached a significant landmark, amassing $1 billion in annualized revenue by August 2025. This achievement follows a substantial $22.5 billion valuation secured in July, courtesy of an Iconiq-led funding round.
Founded by Eric Glyman and Karim Atiyeh in 2019, the six-year-old firm has seen exceptional growth in the corporate credit card and financial operations sector. In January, Ramp surpassed $700 million in annualized revenue, more than doubling its $300 million benchmark set in August 2023.
Not content with just corporate credit cards, Ramp has broadened its horizons into expense management, travel booking, and AI-powered financial tools. In July, the company launched its first AI agents. These agents automatically approve employee receipts in line with company expense policies, positioning Ramp as an AI-driven fintech leader, as opposed to a mere traditional corporate card provider.
Boasting over 40,000 customers, including major corporations like Shopify, Anduril, and Notion, Ramp has saved businesses a staggering $10 billion and 27.5 million hours to date. The company turned cash-flow positive earlier this year and has raised a total of $1.9 billion in equity financing.
Source: Fortune