Ramp is launching its financial services for companies headquartered in the UK and Europe this summer, backed by a US$750 million primary financing round that values the corporate spend platform at US$44 billion.

ICONIQ, GIC, and Ontario Teachers’ Pension Plan led the funding round. New backers include Goldman Sachs Alternatives, D.E. Shaw & Co., and Morgan Stanley Investment Management, alongside participation from existing venture capital investors.

The capital injection arrives as Ramp expands its capabilities to address AI tokens.

The firm is positioning AI tokens as an emerging third major category of enterprise spend. In March 2026, Ramp grew its total payment volume by approximately 170% year-over-year.

This marks its highest growth rate in three years despite operating at 20 times its previous scale.

Managing AI token computing costs

“For 500 years, business ran on two pillars of spend: people and vendors. In the last 24 months, a third arrived: intelligence, paid by the token and invisible to every system we’ve built to manage cost,”

said Eric Glyman, co-founder and CEO of Ramp.

Glyman added that Ramp is building the infrastructure for this third pillar. To manage these emerging costs, the company recently rolled out specialised visibility and control tools for AI token tracking.

The firm also deepened its multi-year partnership with Visa to allow autonomous corporate payments. These payments are executed by AI agents using real-time controls.

European expansion and accounting automated toolsRamp accelerated its international footprint through two recent acquisitions.

The firm purchased Billhop, a corporate payments provider operating in the UK and Europe, and Juno, a guest travel platform, to support its upcoming European launch.

The platform is also making its first entry into the accounting firm market through a dedicated operating system called Ramp Stack.

This launch accompanies a rapid product cycle that saw the company ship more than 70 features over the past few months.

These releases include tools for real-time budget tracking, automated procurement, and startup spend infrastructure.

The company reported substantial efficiency gains for its user base following these updates.In May 2026, the median customer saw year-over-year improvements in efficiency, saving 50% more funds and 32% more hours annually compared to the prior year.

These savings more than doubled for companies using the full software suite.

Internal AI adoption and financials

Internally, the firm uses its own AI systems to run operations. Its internal software factory, Inspect, writes more than two-thirds of the company’s code.

A configured AI workspace called Glass has helped the company reach 99.5% internal AI adoption across all departments, according to company-reported metrics.

“Every company needs infrastructure to navigate an AI economy, from a CFO in London to an accounting firm in Wichita,”

Glyman said, noting that finance is going through its biggest structural change since the spreadsheet.

As of June 1, 2026, the company has surpassed US$1 billion in annualised revenue with positive free cash flow. It serves more than 70,000 customers, including Visa, Uber, Shopify, and Stanford Athletics.

The platform handles US$200 billion in annualised purchase volume. In their first year, the median customer achieves 5% savings alongside 16% revenue growth.

Featured image credit: Edited by Fintech News Switzerland, based on image by alexgolovinphotography via Magnific