Investing.com -- Fintech startup Ramp is in early-stage discussions with investors to secure a new round of funding that could value the company at roughly $60 billion, according to reporting from Bloomberg. The potential transaction comes just three months after the corporate spend management firm achieved a $44 billion valuation following a $750 million capital injection in June.
Under the terms currently being considered, the New York-based enterprise platform is looking to raise approximately $1 billion in primary funding, a person familiar with the matter told Bloomberg. The rapid step-up in pricing highlights sustained private market demand for fast-growing financial infrastructure platforms despite broader macroeconomic scrutiny across the tech sector.
Founded in 2019 to help startups simplify and automate corporate expense management, Ramp has aggressively expanded its operational footprint into a broader suite of enterprise services. The company's platform now encompasses business payment processing, automated accounts payable, and artificial intelligence-driven fraud detection tools designed to optimize corporate workflows.
That operational expansion has translated into significant top-line growth, with the company crossing $1.5 billion in annualized revenue by early June, according to Bloomberg data. The business has now raised $3 billion in total capital to date, drawing strong backing from prominent venture capital outfits including Iconiq, Thrive Capital, and Founders Fund.
If finalized, the new valuation would solidify Ramp's position as one of the most highly valued private technology companies in North America. Investors will likely be watching closely to see if the firm uses the additional balance sheet liquidity to fund further product expansion or pursue strategic acquisitions in the software space.