Ramp

Ramp is revolutionizing the corporate card and expense management landscape with its innovative approach to business spending. Launched in 2019, Ramp has quickly established itself as a leader by integrating expense management directly into its corporate card offerings. Unlike traditional players like Brex and American Express, Ramp focuses on cost savings rather than cash back, providing businesses with tools to streamline their financial operations. With an impressive net annualized revenue of $648 million in 2024—up 133% from the previous year—Ramp is on a rapid growth trajectory.

The company’s unique features, such as automatic expense categorization and policy enforcement, empower finance teams to maintain control over spending while simplifying the approval process. Ramp's technology leverages advanced optical character recognition (OCR) to digitize invoices, making reconciliation faster and more efficient. This focus on automation and user engagement has resulted in a significant increase in transaction volume, with total payment volume soaring from $8 billion in 2022 to $18 billion in 2023.

Valued at $22.5 billion following its latest funding round, Ramp has raised approximately $1.9 billion in equity financing, attracting notable investors like Founders Fund and ICONIQ Growth. As Ramp continues to enhance its platform with AI-driven insights and expand into adjacent markets, it aims to redefine the future of expense management and solidify its position as a key player in the B2B payments space.