New updates have been reported about Ramp (PC:RMPVK)
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Ramp, a leader in financial operations, has reached a significant milestone, surpassing $1 billion in annualized revenue just five years after launching its first corporate card product. This achievement underscores Ramp’s rapid growth and its commitment to leveraging AI technology to enhance financial efficiency for its clients. The company now serves 45,000 customers, with over half utilizing multiple products from its diverse offerings, which include corporate cards, expense management, bill payments, procurement, travel booking, and treasury services.
Ramp’s innovative approach has resulted in substantial savings for its clients, totaling over $10 billion and 27.5 million hours. The company’s AI-driven solutions have enabled significant improvements in financial operations, such as reducing out-of-policy spending and streamlining approval processes. Notably, Ramp’s Bill Pay service has seen a threefold increase year-over-year, contributing to an annualized purchase volume of $100 billion. The company has also expanded its enterprise customer base by 120% and manages over $1.5 billion in assets under Ramp Treasury since its launch in January 2025. As Ramp continues to evolve, its focus remains on providing cutting-edge solutions that save businesses time and money, reinforcing its position as a transformative force in the financial technology sector.