Fintech startup Ramp hits $16B valuation in $200M round led by Peter Thiel’s Founders Fund

Ramp, the New York-based fintech startup building corporate spend tools, has raised $200 million in fresh funding, pushing its valuation to $16 billion. The round was led by Founders Fund, Peter Thiel’s venture firm, which has now backed Ramp five times.

The new valuation marks a $3 billion jump from Ramp’s last round in March, when it was valued at $13 billion.

Founded in 2019 by Eric Glyman, Gene Lee, and Karim Atiyeh, Ramp started with a mission to help companies save money. What began as a corporate card platform has grown into a broader finance automation suite, handling everything from bookkeeping and travel to procurement and vendor payments.

Today, Ramp says it processes tens of billions of dollars in purchases annually across more than 40,000 businesses, including CBRE, Shopify, Anduril, and Notion.

Over the past year, Ramp has been pushing deeper into the enterprise market. In January, it launched Ramp Treasury, which lets companies earn 2.5% on idle cash. It also acquired Venue, a procurement startup with AI capabilities, and used it to roll out vendor payment tools. The company even entered the travel booking space last summer through a partnership with Priceline, CNBC reported.

So far in 2025, Ramp says it has shipped 270 product updates, many focused on automating financial workflows and integrating AI. Yet the company still believes it’s barely scratched the surface, serving just 1.5% of its potential U.S. market.

CEO Eric Glyman reflected on the funding in a blog post, sharing that his inspiration comes from bold, mission-driven companies like Stripe, SpaceX, and Amazon.

“We’re building the financial operations platform for your business. Corporate cards, spend management, bill pay, procurement, travel, treasury, accounting automations. Yes, it all might sound quite boring! And that’s precisely why we’re building it.”

“Ours can fit on a Post-it too,” he wrote. “Save your company time and money (without you noticing).”

He continued, “Let the robots chase receipts and close your books, so you can use your brain and build things.”

In addition to Founders Fund, the round drew participation from Thrive Capital, D1 Capital Partners, General Catalyst, GIC, ICONIQ Growth, Khosla Ventures, Sands Capital, 8VC, Lux Capital, Stripes, 137 Ventures, Avenir Growth, and Definition Capital.

Ramp’s growth comes as CFOs look for smarter tools to manage spending. With this latest raise, Ramp appears set to double down on automation and enterprise features, without losing sight of its original promise: making finance work better behind the scenes.

We covered Ramp three years ago after the unicorn startup closed $750M in funding to help businesses automate their financial operations and spend less.