Ramp Secures $750 Million In Series F Funding Led By ICONIQ And GIC

Ramp, a New York-based fintech company, has raised $750 million in a Series F funding round led by ICONIQ, GIC, and Ontario Teachers’ Pension Plan (OTPP). This investment brings Ramp's total funding to $3 billion and values the company at $44 billion. Notable existing investors include Founders Fund, Lightspeed Venture Partners, D1 Capital, and T. Rowe Price, with new investors joining the round such as GS Growth Equity, D.E. Shaw & Co, Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, and BroadLight Capital.

Summary of transaction details:

• Deal Type: Series F
• Transaction Amount: $750,000,000
• Total Funding: $3,000,000,000
• Valuation: $44,000,000,000
• Headquarters: New York
• Founders: Karim Atiyeh & Eric Glyman
• Investors: ICONIQ, GIC, Ontario Teachers’ Pension Plan (OTPP), Founders Fund, Lightspeed Venture Partners, D1 Capital, T. Rowe Price, GS Growth Equity, D.E. Shaw & Co, Morgan Stanley Investment Management, Generation Investment Management, Insight Partners, BroadLight Capital

Ramp currently serves over 70,000 organizations, providing solutions for managing spending, payments, procurement, travel, treasury, and accounting workflows. With over $1 billion in annualized revenue, the company is generating operating cash flow and has also reported over $200 billion in annual purchase volume across cards and bill payments.