AI finance app Ramp raises $500 million in a new funding round : Report

Ramp has secured a valuation of $22.5 billion in a late-stage round, it said on Wednesday, marking a nearly 41% jump in just over a month as fintech funding rebounds after a years-long slump.

The New York-based company – which offers corporate cards, payment services and expense management applications – raised $500 million in the latest funding round, led by investment firm ICONIQ, taking its total equity financing to $1.9 billion.