Fintech Ramp's valuation hits $16 billion in deal led by Peter Thiel's Founders Fund

Ramp, a financial operations platform designed for corporate clients, has achieved a remarkable valuation of $16 billion following its latest funding round led by Founders Fund, the venture capital firm co-founded by Peter Thiel. This latest investment, totaling $200 million, marks the fifth round led by Founders Fund and boosts Ramp's valuation by $3 billion from its previous mark of $13 billion in March. Established in 2019, Ramp provides a comprehensive suite of services that includes corporate cards, procurement management, bookkeeping, travel booking, and vendor management. The company proudly states that it facilitates tens of billions in transactions each year for around 40,000 businesses. Notably, Ramp secured the sixth position on the 2025 CNBC Disruptor 50 list, underscoring its impactful presence in the fintech sector. Ramp's impressive client roster features major companies such as CBRE, Shopify, Anduril, and Notion, with Founders Fund also backing Anduril. As part of its ongoing expansion, Ramp has been actively enhancing its offerings tailored for enterprise clients. Earlier this year, it introduced Ramp Treasury, enabling businesses to earn 2.5% on idle operating cash. Additionally, the acquisition of Venue, an AI-driven procurement startup, has paved the way for the launch of new vendor payment solutions. In June, Ramp further diversified its services by launching Ramp Travel, a partnership with Priceline aimed at optimizing corporate travel booking and expense management, entering a competitive space that includes fellow Disruptor 50 company Navan. The company has rolled out an impressive 270 new features this year, focusing on automating financial operations and leveraging AI technology, while still capturing only 1.5% of the potential U.S. market. In a blog post discussing the fundraising, Ramp co-founder and CEO Eric Glyman shared his inspirations from leading companies, emphasizing missions such as enhancing the GDP of the internet and becoming the most customer-focused company on Earth. He succinctly summarized Ramp's goal: 'Save your company time and money without you noticing.' Glyman encouraged companies to let automation handle the tedious tasks, allowing them to focus on innovation and growth. This funding round also saw participation from several notable investors including 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.