Ramp Raises $300M Series C at $3.9B Valuation for Corporate Cards

Ramp, a New York-based fintech offering corporate card and spend management solutions, announced a $300M Series C funding round that valued the company at $3.9 billion. Ramp's platform provides businesses with corporate cards, automated expense management, and spending insights, leveraging banking-as-a-service infrastructure to issue cards and process transactions. The company also acquired Buyer, a procurement platform, to expand its embedded finance capabilities for enterprise customers.

Ramp's model relies on bank-fintech partnerships to underpin its card issuance and payment processing, making it a prominent example of embedded finance in the B2B segment. The significant funding round reflects strong demand for fintech-powered corporate financial tools that sit atop BaaS rails. Ramp competes with other embedded card platforms like Brex and Divvy in the rapidly growing corporate spend management market.