Sources: Ramp told investors it is raising $750M co-led by Iconiq Capital and GIC at a valuation of $40B+ before the investment, up from $32B in November 2025 (Kate Clark/Wall Street Journal)

Ramp is reportedly seeking to raise $750 million, co-led by Iconiq Capital and GIC, which would elevate its valuation to over $40 billion, a significant increase from $32 billion just six months prior. This funding round highlights Ramp's rapid growth in the corporate card and expense management sector, reflecting strong investor confidence in its business model and market potential.