Agents across the finance back office, plus a new line in managing AI spending itself: Ramp sells agents for expense review, bills, procurement and accounting, and since April 2026 tools to track and route companies' AI token spend.
How is Ramp using AI?
Ramp's AI strategy puts agents into each step of corporate spend, from expense review (July 2025) and bill pay to procurement and accounting, and adds products that manage AI spending itself: token spend management (April 2026) and the Router.com model router (August 2026). Ramp raised $750 million at a $44 billion valuation in June 2026, reporting over $1 billion in annualized revenue and 70,000+ customers. Weeks later co-founder Karim Atiyeh became co-CEO and applied-AI lead Rahul Sengottuvelu became CTO.
Category
Business finance & infrastructure
Founded
2019
Headquarters
New York, United States
Licence and supervision
No bank charter of its own. Ramp cards are issued by partner institutions: Celtic Bank, Fifth Third Bank, Sutton Bank and Lead Bank (all Members FDIC) in the US, Peoples Trust Company in Canada, Stripe Technology Europe in the EEA and Stripe Payments UK in the UK (issuing bank schedule updated April 2026).
Scale
Over $1 billion in annualized revenue, 70,000+ customers and $200 billion in annualized purchase volume as of June 1, 2026
Flagship platform
Ramp agents
AI leadership
Eric Glyman · Karim Atiyeh · Rahul Sengottuvelu · Hamid Dadkhah · Colin Kennedy
- Ramp raised $750 million at a $44 billion valuation on June 4, 2026, up from $32 billion in November 2025; it reported over $1 billion in annualized revenue with positive free cash flow, 70,000+ customers and $200 billion in annualized purchase volume as of June 1, 2026.
- Ramp's first agents (July 2025) review expenses against policy; Ramp says they catch 15x more out-of-policy spend than non-AI alternatives and escalate only 10-15% of expenses to humans. Agents for AP (October 2025) code invoices and, Ramp says, identified more than $1 million in fraud before approval.
- Ramp says average monthly AI token spend across its customers rose 13x since January 2025; it launched token spend management in early access in April 2026 and opened Router.com, a model-routing API, in August 2026.
- Internally, Ramp says its Inspect coding agent writes more than two-thirds of its code and its Glass AI workspace helped it reach 99.5% AI adoption (June 2026); its OCA on-call agent assisted with 575 of 1,220 incident-fix pull requests in four weeks (September 2026).
- On June 25, 2026 co-founder Karim Atiyeh moved from CTO to co-CEO alongside Eric Glyman, and Rahul Sengottuvelu, who led Applied AI at Ramp, became CTO; the founders tied the change to 'the AI exponential'.
- In March 2026 Ramp and Visa renewed a multi-year issuing agreement and said they are introducing AI agents for corporate bill pay using Visa Intelligent Commerce and the Visa Trusted Agent Protocol.
- Ramp's June 2026 CEO letter names tokens a 'third pillar' of business spend after people and vendors; CEO Eric Glyman told CNBC most CFOs had not planned for the growth in AI spending.
What is Ramp agents?
Ramp's first AI agents, launched July 9, 2025 for Ramp Plus customers, review expenses against policy; Ramp says they catch 15x more out-of-policy spend than non-AI alternatives, enforce policy with 99% accuracy and escalate only the 10-15% of expenses that need human judgment. Agents for accounts payable followed in October 2025, procurement agents in April 2026, and Ramp Stack, an agent platform for accounting firms, in June 2026.[1][4][8][9]
What has Ramp done on AI, and when?
- Sep 9, 2026
OCA, an AI on-call assistant[17]
An incident-response agent that investigates causes, posts findings in Slack and prepares code fixes; Ramp says it assisted with 575 of 1,220 incident-fix pull requests in four weeks and responders rate it helpful 90% of the time.
- Aug 19, 2026
Router.com opens to all developers[16]
One API to access, evaluate and route traffic across AI models, based on routing infrastructure Ramp has run on its own production workloads for three years; Ramp says it saved customers 40% on cost.
- Jun 25, 2026
- Jun 10, 2026
Applied AI Solutions[13]
A service for large enterprises built on the 'Finance Intelligence' semantic layer that powers the agents used by Ramp's own finance team.
- Jun 4, 2026
- Jun 3, 2026
Ramp Stack for accounting firms[9]
An AI-native platform on which accountants deploy agents for reconciliations, schedules, journal entries and flux analyses; Ramp says it works with more than 4,500 accounting firms, including 92 of the top 100 CPA firms.
- Apr 29, 2026
Procurement agents[8]
A suite of AI agents covering vendor sourcing, compliance checks and negotiation prep; Ramp says customers save an average 16% annually on vendor spend and agents eliminate 46 hours a month of manual purchasing work.
- Apr 9, 2026
- Mar 31, 2026
Visa partnership extended to agentic bill pay[6]
A renewed multi-year issuing agreement and work with Visa Intelligent Commerce and the Visa Trusted Agent Protocol to introduce AI agents that automate corporate bill pay.
- Jan 12, 2026
Inspect, Ramp's own background coding agent[5]
Ramp said about 30% of pull requests merged to its frontend and backend repositories were written by Inspect, a few months after launch.
- Oct 7, 2025
Agents for accounts payable[4]
Agents that code invoice line items, check for fraud, recommend approvals and complete card payments; Ramp says they got 85% of accounting fields right the first time, identified $1M+ in fraud before approval and issued 90,000 approval recommendations with a 90% acceptance rate.
- Sep 9, 2025
$1 billion in annualized revenue[3]
Up from $700 million in March 2025, according to Ramp; TechCrunch noted Ramp had recently launched its first AI agent and planned more.
- Jul 30, 2025
$500 million at a $22.5 billion valuation[2]
Raised 45 days after a $16 billion round; Glyman laid out a vision of agent-led 'autonomous finance' he predicts will be the norm by 2028.
- Jul 9, 2025
Ramp launches its first AI agents[1]
Policy agents for Ramp Plus customers that review expenses; Ramp says they catch 15x more out-of-policy spend than non-AI alternatives, enforce policy with 99% accuracy and escalate only 10-15% of expenses to humans.
Where does Ramp use AI today?
| System | What it does | Status | Use case |
|---|---|---|---|
| Policy agents for expense review[1] | Agents that review expenses against company policy and escalate 10-15% to humans; available to Ramp Plus customers through the Early Access tab at launch. | Rolling out | Generative & agentic AI |
| Agents for accounts payable[4] | Invoice coding, approval recommendations and card payments; customers enable them or join a waitlist in the Early Access tab. | Rolling out | Generative & agentic AI |
| Invoice fraud checks by AP agents[4] | AP agents check invoices for fraud before approval; Ramp says they identified more than $1 million in fraud over their first few months. | Rolling out | Fraud detection |
| Procurement agents[8] | Agents in Ramp Procurement that handle vendor sourcing, compliance checks and negotiation prep to run purchasing end to end. | In production | Generative & agentic AI |
| Ramp Stack accounting agents[9] | Agents that run reconciliations, update schedules, post journal entries and build flux analyses for accounting firms, with human checkpoints the firm defines. | In production | Generative & agentic AI |
| Agentic bill pay with Visa[6] | AI agents to automate corporate bill pay using Visa Intelligent Commerce and the Trusted Agent Protocol, announced March 2026. | Announced | Generative & agentic AI |
| AI token spend management and Router.com[12][16] | Tools that show companies what they spend on AI models and route tasks to cheaper models; token spend management launched in early access in April 2026 and Router.com opened to all developers in August 2026. | Rolling out | Third-party & vendor AI |
| Inspect coding agent[5][10] | Ramp's own background coding agent, which runs tests and verifies its work before proposing pull requests; Ramp says it writes more than two-thirds of Ramp's code. | In production | AI-generated code & coding agents |
| OCA on-call assistant[17] | Incident-response agent that joins incident channels, reports likely causes within about 13 minutes and asks Inspect to prepare fixes for human review. | In production | AI-generated code & coding agents |
Use-case links open the tracker's rules-by-use-case matrix: which documents govern each system type.
What has Ramp disclosed in numbers?
| Metric | Value | As of |
|---|---|---|
| Valuation | $44 billion after a $750 million Series F, up from $32 billion in November 2025[10][12] | Jun 4, 2026 |
| Annualized revenue | over $1 billion, with positive free cash flow[10] | Jun 1, 2026 |
| Customers and purchase volume | 70,000+ customers; $200 billion annualized purchase volume[10] | Jun 1, 2026 |
| AI token spend across Ramp customers | average monthly spend up 13x since January 2025[7] | Apr 9, 2026 |
| Code written by the Inspect agent | more than two-thirds of Ramp's code; 99.5% internal AI adoption[10] | Jun 4, 2026 |
| Policy agent performance (Ramp's claim) | 15x more out-of-policy spend caught than non-AI alternatives; 99% policy accuracy; 10-15% escalated to humans[1] | Jul 9, 2025 |
| OCA incident assistance | 575 of 1,220 incident-fix pull requests in four weeks; rated helpful 90% of the time[17] | Sep 9, 2026 |
“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.”[10]
Eric Glyman · Co-founder and CEO · Jun 4, 2026
“I think that era of tokenmaxxing is nearing its end.”[11]
Eric Glyman · Co-founder and CEO · Jun 4, 2026
“If we fail to operate this way we will ultimately be outcompeted by a new company that does”[15]
Eric Glyman · Co-founder and Co-CEO · Jun 25, 2026
“Strategy decisions are increasingly technology and systems-design decisions, and we want the company built around that reality”[15]
Karim Atiyeh · Co-founder and Co-CEO · Jun 25, 2026
Who runs AI at Ramp?
Which regulators govern Ramp's AI?
| Authority | Why it matters here | Documents |
|---|---|---|
| FDIC | Ramp's US cards are issued by FDIC-member partner banks (Celtic Bank, Sutton Bank, Lead Bank and Fifth Third Bank), so its agent-driven card and bill-pay flows run through bank-fintech partnerships those banks must manage as third-party relationships. | |
| CFPB | Ramp's corporate charge cards are business credit, and the Equal Credit Opportunity Act and Regulation B, including adverse-action notice rules, apply to business as well as consumer credit decisions. | ECOA / Regulation B adverse action (15 U.S.C. 1691(d); 12 CFR 1002.9) |
| UK (BoE / PRA / FCA) | Ramp's UK cards are issued by Stripe Payments UK, and Ramp said in June 2026 it would start serving UK- and Europe-headquartered companies, having closed its acquisition of UK/EU payments firm Billhop. |
Linked authorities have a page in the AI Regulation Tracker; the others are named for completeness and not yet tracked.
What does the public record suggest about Ramp's AI strategy?
Analysis by BankingNewsAI from the sources cited on this page. Observations, not advice.
01
AI spending has become a Ramp product line
Token spend management, Router.com and Applied AI Solutions sell help with the AI bill itself; Ramp's funding release credits part of its 2026 growth to token spend management.
02
Most agent performance figures are Ramp's own
The 15x out-of-policy catch rate, 99% accuracy, $1M+ in fraud flagged and 40% routing savings come from Ramp's product announcements, not independent measurement.
03
Several agents launched as early access
The expense-policy and AP agents were released through an Early Access tab or waitlist, and the Visa agentic bill-pay work was announced rather than shown live, so launch dates overstate how widely each is in use.
04
The leadership change is framed around AI
Moving the CTO to co-CEO and handing the CTO role to the head of Applied AI was explained by the founders as positioning the company for the 'AI exponential', making AI leadership part of the top of the org chart.
05
Heavy internal AI use is part of the pitch
Inspect writing more than two-thirds of Ramp's code, 99.5% AI adoption and the OCA incident agent are cited in funding materials, alongside customer-facing agents.
How does Ramp use AI?
Ramp runs AI agents across corporate spend: policy agents for expense review (July 2025), agents for accounts payable (October 2025), procurement agents (April 2026) and Ramp Stack agents for accounting firms (June 2026). It also sells tools to manage AI costs, including token spend management and the Router.com model router. Ramp reports over $1 billion in annualized revenue and 70,000+ customers.
What is Ramp's valuation?
Ramp raised $750 million at a $44 billion valuation on June 4, 2026, led by ICONIQ, GIC and Ontario Teachers' Pension Plan, up from $32 billion in November 2025 and $22.5 billion in July 2025. Ramp has raised more than $3 billion in total equity and remains private.
Who runs Ramp?
Co-founders Eric Glyman and Karim Atiyeh have been co-CEOs since June 25, 2026; Atiyeh was previously CTO. Rahul Sengottuvelu, who led Applied AI at Ramp after joining through the acquisition of his company, became CTO. The founders said the change reflected how the AI exponential is reshaping what Ramp can be.
Is Ramp a bank?
No. Ramp does not hold a bank charter. Its cards are issued by partner institutions: Celtic Bank, Fifth Third Bank, Sutton Bank and Lead Bank in the US, Peoples Trust Company in Canada, and Stripe entities in the UK and EEA. Ramp reported $200 billion in annualized purchase volume as of June 1, 2026.
What is Ramp's AI token spend management?
A product that tracks what companies spend on AI models across providers, launched in early access in April 2026. Ramp says average monthly AI token spend across its customers rose 13x since January 2025. In August 2026 Ramp also opened Router.com, which routes requests across models and, Ramp says, saved customers 40% on cost.
How much of Ramp's code is written by AI?
Ramp says its internal background coding agent, Inspect, writes more than two-thirds of its code (June 2026), up from about 30% of merged pull requests in January 2026. Its OCA on-call agent assisted with 575 of 1,220 incident-fix pull requests over four weeks in 2026, with fixes going through human review.
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