Ramp: Seeks $60B Valuation in New Funding Round

Ramp is in talks to raise roughly $1B at a $60B valuation, marking a 36% jump from its $44B round just three months ago. The fintech firm crossed $1.5B in annualized revenue by early June and has now pulled in about $3B total since its 2019 founding. Expansion into payments processing and AI-powered fraud detection drives the fintech valuation growth, while rival Brex sold to Capital One for $5.15B earlier this year.