Ramp has secured about US$1.85 billion in new funding, Bloomberg reported, citing people with knowledge of the deal.

The round values the New York-based fintech startup at roughly US$60 billion, a figure that does not include the fresh capital.

Dragoneer Investment Group and Thrive Capital led the raise, according to those sources. Founders Fund also committed a large sum.

The valuation puts Ramp well ahead of other startups in corporate spend management, Bloomberg reported.

Its customer base has also expanded this year. In June, the company said it worked with 70,000 businesses, compared with 50,000 at the start of 2026.

Annualised revenue had passed US$1.5 billion by that point, Bloomberg reported at the time.

That same month, Ramp raised US$750 million at a US$44 billion valuation.

Bloomberg then reported in September that the company was in early talks for a new round at about US$60 billion.

Founded in 2019, Ramp provides businesses with tools for expense reporting, payment processing and fraud detection that uses AI.

Since the June raise, the company has been looking for further ways to use AI. A tool it released in August directs work to less costly AI models when it can. Ramp is also considering training its own AI models for the first time.

Ramp declined to comment on the funding. The three investors had not replied to Bloomberg when its report was published.

Featured image: Edited by Fintech News Switzerland, based on image by Ramp via its website and Magnific.