Who are Ramp's competitors?
Ramp is private and files no annual report, so its rivals are named in competitors' filings and the trade press. In business and corporate cards, Payments Dive reported in March 2026 that American Express and large banks such as JPMorgan Chase and Capital One compete for business card customers along with fintechs including Bill Holdings, Brex, Engine and Ramp; Brex has been part of Capital One since April 7, 2026. In expense management, Navan's 10-K for the year ended January 31, 2026 names Brex and Ramp alongside Expensify, Oracle and SAP, and on September 30, 2026 American Express launched expense management software with its corporate card, a move The Wall Street Journal tied to competition from fintechs such as Ramp and Brex. In bill pay, BILL's fiscal 2026 10-K says Brex and Ramp introduced bill payment products. In procurement Ramp positions itself against Coupa, in travel against Navan, and in business banking against Mercury, whose August 2026 spend launch was meant partly to keep customers from adopting Ramp and Brex, Fast Company reported. On scale, Ramp said on October 15, 2026 that more than 85,000 companies manage over $275 billion in annualized purchase volume on it; BILL reported about 479,300 businesses and $371.3 billion of total payment volume in fiscal 2026, and Amex cards carried $1,670 billion of billed business in 2025. Rivals are adding AI agents too: BILL launched its first suite in fiscal 2026, Brex uses four main agents, and Amex agreed in April 2026 to buy Hyper, an agentic expense management company.[1][2][3][4][5][6][7][8][9][10][11][12][13]
Data as of Nov 2, 2026 · Ramp profile updated Oct 22, 2026 · 34 sources cited on this page · 56 fintechs profiled on this site · Markdown
What do competitors' filings and the trade press say about Ramp?
Ramp is private and files no Form 10-K, so there is no competition section of its own. BILL's Form 10-K for the fiscal year ended June 30, 2026 (filed August 20, 2026) names it: "In addition, Brex, recently acquired by Capital One, and Ramp, firms primarily known for offering spend and expense management products, introduced bill payment products in recent periods." The same passage notes that in October 2023 Intuit launched a native bill payment solution integrated with QuickBooks.[6]
Navan's Form 10-K for the fiscal year ended January 31, 2026 (filed April 2, 2026): "Our Expense Management and Corporate Payments offerings face competitive challenges from do-it-yourself approaches as well as horizontal platform solutions with expense management features such as Expensify, Oracle, and SAP, corporate card providers, and expense management solutions such as Brex and Ramp."[3]
American Express's 2025 Form 10-K does not name Ramp, but lists among its forward-looking risks "our ability to build on our leadership in commercial payments", which "will depend in part on competition, including from financial technology companies and as a result of competitor acquisitions and transactions". It adds that "Competitors may also use AI technologies more effectively than us or partner with companies that do so."[11]
In the trade press, Payments Dive wrote on March 25, 2026 that "Amex and large bank rivals such as JPMorgan Chase and Capital One Financial compete for business card customers along with fintechs such as Bill Holdings, Brex, Engine and Ramp." The Wall Street Journal wrote on September 30, 2026 that "Expense-management fintechs such as Ramp and Brex are creating more competition for card companies that have historically led the corporate finance industry."[1][5]
Ramp's own comparison pages, retrieved November 2, 2026, claim 5,500+ teams chose Ramp over Brex, 18,000+ businesses over Amex, 17,000+ over BILL, 5,200+ over SAP Concur and 1,900+ over Expensify. These are Ramp's marketing counts; the pages are undated and the figures are not independently verified.[14][15][16][17][18]
Who competes with Ramp, where, and how do they compare on AI?
Each competitor's scale is its own latest figure, on its own measure and period, so the figures are not one series. Ramp said on October 15, 2026 that more than 85,000 companies manage over $275 billion in annualized purchase volume on Ramp.
| Competitor | Where they compete | Dated scale figure | How they compare on AI | Sources |
|---|---|---|---|---|
| Brex (Capital One since April 7, 2026) | Corporate cards, spend management and bill pay; named with Ramp in BILL's and Navan's 10-Ks, and Mercury's spend launch targets both (Fast Company). Ramp's comparison page claims 5,500+ teams chose Ramp over Brex | About 35,000 clients (American Banker, April 8, 2026); acquired by Capital One for $5.15 billion in aggregate consideration | Four main agents: an expense agent that grabs receipts, a review agent that checks expenses against policy, an auditing agent and an accounting agent that syncs charges to the ERP; Capital One calls Brex an AI-native platform that uses AI agents to automate complex workflows | American Banker; Capital One; Capital One 10-K 2025; BILL 10-K FY2026; Navan 10-K FY2026; Fast Company; Ramp[12][2][19][6][3][9][14] |
| American Express | Business and corporate cards (Payments Dive names Ramp among the fintechs competing for business card customers); expense management since its 2025 acquisition of Center, and Amex Corporate expense software launched September 30, 2026, with accounts payable software planned. Ramp claims 18,000+ businesses chose Ramp over Amex | Worldwide billed business of $1,670 billion in 2025, about 41 percent of it from small business and corporate clients | Agreed on April 16, 2026 to acquire Hyper, an agentic expense management company; its Amex Expense app uses AI to suggest expense fields and check receipts, and an expense agent and an insights agent are planned for later in fall 2026 | American Express 10-K 2025; Payments Dive; American Express (Business Wire); The Wall Street Journal; Ramp[11][1][4][13][5][15] |
| BILL Holdings (BILL, BILL Divvy Card) | Accounts payable and bill pay, receivables, spend and expense with the BILL Divvy Card, and BILL Travel; its 10-K says Brex and Ramp introduced bill payment products. Ramp claims 17,000+ businesses chose Ramp over BILL | About 479,300 businesses used its solutions at June 30, 2026, processing about $371.3 billion of total payment volume in fiscal 2026 | Launched BILL AI with its first suite of AI agents in fiscal 2026, for W-9 filings, support, touchless transactions, reconciliations and invoice coding; its invoice coding agent reduces manual time by 20%, BILL says | BILL 10-K FY2026; Payments Dive; Ramp[6][1][16] |
| Navan | Business travel plus expense management and corporate payments; its 10-K names Brex and Ramp among expense management rivals | Gross booking volume of $9.1 billion and payment volume of $4.1 billion in the year ended January 31, 2026 | Its AI virtual agent chatbot, Ava, handled approximately 52% of user interactions in the year ended January 31, 2026, built on its Navan Cognition framework | Navan 10-K FY2026[3] |
| Expensify | Expense management for small and medium-sized businesses; Navan's 10-K lists it with Oracle and SAP, and Ramp claims 1,900+ businesses chose Ramp over Expensify. Expensify's own 10-K names no rival, citing manual processes, horizontal platforms, corporate card providers and niche point solutions | An average of 650,000 paid members across an average of 39,700 companies in 2025 | Concierge, its customer support engine, is powered by AI and trained by customer support agents, per its 10-K | Expensify 10-K 2025; Navan 10-K FY2026; Ramp[20][3][18] |
| Mercury | Business banking and cards, and since August 11, 2026 Mercury Spend; Fast Company says the launch aims partly to keep customers from adopting Ramp and Brex. Ramp's page calls Mercury "a banking platform with just a card product" | Over 450,000 customers (October 20, 2026) | Mercury Spend added AI Agent Cards for purchases within limits a human sets, and every Spend function is reachable through Command, Mercury's natural-language AI layer | Fast Company; Mercury (Business Wire); Ramp[9][21][22][8] |
Which rivals does Ramp meet in each of its business lines?
Ramp's product in each line, and the rivals the cited filings, press or Ramp's own comparison pages set against it.
| Business line | Ramp's product | Rivals named in the sources | Date |
|---|---|---|---|
| Corporate and business cards | Ramp cards, issued in the US by Celtic Bank, Fifth Third Bank, Sutton Bank and Lead Bank | American Express, JPMorgan Chase, Capital One, Bill Holdings, Brex and Engine (Payments Dive); Amex's Corporate Cashback Card, with a $2,950 annual program membership fee for unlimited cards | April 22, 2026 (Ramp); March 25 and September 30, 2026[23][1][4] |
| Expense management | Policy agents that review expenses against company policy | Expensify, Oracle, SAP and Brex (Navan's 10-K); SAP Concur, which Ramp's page says 5,200+ businesses left for Ramp; Amex Corporate's Expense Management software | July 9, 2025 (Ramp); April 2 and September 30, 2026[24][3][17][4] |
| Accounts payable and bill pay | Bill Pay with agents for AP that code invoices, check for fraud and recommend approvals | BILL; Intuit's native QuickBooks bill pay (October 2023) and Brex, per BILL's 10-K; Amex plans accounts payable software for Corporate Cashback Card customers | October 7, 2025 (Ramp); August 20 and September 30, 2026[25][6][4] |
| Accounts receivable | Accounts Receivable built on three AI agents | BILL, whose platform covers receivables; Ramp's comparison page says BILL's AP and AR are separate products with separate logins (Ramp's claim) | September 22, 2026 (Ramp); August 20, 2026[26][6][16] |
| Procurement | Ramp Procurement with procurement agents for sourcing, compliance checks and negotiation prep | Coupa, whose customers, Ramp says, plan for implementations of 12 months or longer; Airbase, now owned by Paylocity, combines procurement with bill pay, expense management and corporate cards | April 29, 2026 (Ramp); August 5, 2026[27][7][28] |
| Travel | Ramp Travel, with native booking and integrations with travel management companies such as Egencia, Perk and Corporate Traveler | Navan; SAP Concur Travel and Complete, codeveloped by SAP Concur and Amex GBT; BILL Travel | Retrieved November 2, 2026 (Ramp); March 17, April 2 and August 20, 2026[15][3][29][6] |
| Treasury and business banking | Ramp Treasury, launched with a business account earning 2.5%; bank deposit services by First Internet Bank of Indiana | Mercury (Fast Company; Ramp's comparison page); BILL says its data powers development of AI agents for SMB cash management | January 22, 2025 (Ramp); August 11 and August 20, 2026[30][9][8][6] |
What companies are similar to Ramp?
Companies that combine corporate cards with spend software, as described in their own filings and releases.
| Company | Why it is similar | Sources |
|---|---|---|
| Brex | The closest match: Capital One describes it as combining corporate credit cards, spend management software and banking in a single platform, and says it uses AI agents; Brex founder Pedro Franceschi continues as CEO under Capital One | Capital One[2] |
| BILL Spend and Expense (BILL Divvy Card) | BILL's spend and expense product gives each employee a BILL Divvy Card, a charge card for business expenses with spend controls, on the same platform as BILL's payables and receivables | BILL 10-K FY2026[6] |
| Airbase (Paylocity) | Paylocity acquired Airbase on October 1, 2024 and describes it as a modern finance and spend management software solution combining bill pay/accounts payable automation, expense management, corporate cards and procurement | Paylocity 10-K FY2026[28] |
| Mercury Spend | Budgets, self-enforcing expense policies, employee cards and AI Agent Cards built into Mercury's banking dashboard, launched August 11, 2026 | Mercury (Business Wire)[21] |
| Amex Corporate | Since September 30, 2026, the Corporate Cashback Card with 1.5% cash back on up to $10 million a year, integrated expense management software and the Amex Expense app, with AI agents and accounts payable software planned | American Express (Business Wire)[4] |
What does the Ramp profile record on this topic?
The rows below are the entries of the Ramp AI strategy profile that bear on this page, as of Oct 22, 2026; the profile holds the full record of 18 dated moves, 11 use cases and 24 sources.
| Use case | What the record shows | Status | Source |
|---|---|---|---|
| Agents for accounts payable | Invoice coding, approval recommendations and card payments; customers enable them or join a waitlist in the Early Access tab. | Rolling out | [25] |
| Procurement agents | Agents in Ramp Procurement that handle vendor sourcing, compliance checks and negotiation prep to run purchasing end to end. | In production | [27] |
| Accounts Receivable agents | Three AI agents handle invoice creation, collections follow-up and cash application/payment matching in Ramp's Accounts Receivable product; Finance reviews and sends every collections email. Ramp reports a median 36-hour time to payment among early customers. | In production | [26] |
| Date | Move | Detail | Source |
|---|---|---|---|
| Oct 15, 2026 | $1.85 billion at a $60 billion valuation | Co-led by Dragoneer Investment Group, Thrive Capital, Founders Fund, Sands Capital and Avenir Growth, four months after the $44 billion round; Ramp said annualized revenue had crossed $2 billion, customers reached 85,000 (from 70,000 in June) and annualized purchase volume over $275 billion, up 175% year on year. | [31][10] |
| Sep 22, 2026 | Accounts Receivable launches with three AI agents | Ramp introduced an Accounts Receivable product built on three AI agents: one drafts an invoice from an uploaded contract or purchase order for Finance to review; one prepares the next collections reminder from payment status, customer history and the company's collections policy, which Finance reviews and sends; and one matches incoming payments to open invoices and flags exceptions. Ramp reported a median time to payment of 36 hours from invoice sent to fully paid, and said internal testing showed billing schedules created up to 2.3x faster than with legacy software, both as of September 2026. | [26] |
| Jun 4, 2026 | $750 million Series F at a $44 billion valuation | Led by ICONIQ, GIC and Ontario Teachers'; Ramp reported over $1 billion in annualized revenue with positive free cash flow, 70,000+ customers, and said its Inspect agent writes more than two-thirds of its code. | [32][33] |
| Apr 29, 2026 | Procurement agents | 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. | [27] |
| Apr 22, 2026 | Issuing bank schedule updated | Ramp's issuing bank schedule, last updated April 22, 2026, lists Celtic Bank, Fifth Third Bank, Sutton Bank and Lead Bank (all Members FDIC) as US card issuers, Peoples Trust Company in Canada, Stripe Technology Europe in the European Economic Area and Stripe Payments UK in the United Kingdom; Ramp holds no bank charter of its own. | [23] |
| Oct 7, 2025 | Agents for accounts payable | 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. | [25] |
| Jul 30, 2025 | $500 million at a $22.5 billion valuation | 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. | [34] |
Who are Ramp's biggest competitors?
By business line: in cards, American Express, JPMorgan Chase, Capital One and fintechs such as Bill Holdings and Brex, per Payments Dive; in expense management, Brex, Expensify, SAP and Navan; in bill pay, BILL, whose 10-K names Ramp; and in business banking, Mercury. Brex has been owned by Capital One since April 7, 2026.
What companies are similar to Ramp?
Brex is the closest: Capital One describes it as combining corporate cards, spend management software and banking in one platform. BILL's Spend and Expense product with the BILL Divvy Card, Airbase (owned by Paylocity), Mercury Spend and the new Amex Corporate program also pair business cards with expense software.
Is Brex still a competitor of Ramp after Capital One bought it?
Yes. Capital One completed its acquisition of Brex on April 7, 2026, for $5.15 billion in aggregate consideration, and Brex founder Pedro Franceschi continues as CEO. American Banker put Brex at about 35,000 clients. BILL's 10-K, filed in August 2026, still names Brex and Ramp together as bill payment entrants.
Does American Express compete with Ramp?
Yes, in business cards and now software. Payments Dive lists Ramp among fintechs competing with Amex for business card customers. On September 30, 2026 Amex launched expense management software with a new corporate card, which The Wall Street Journal tied to fintechs such as Ramp and Brex, and in April 2026 it agreed to buy Hyper.
How do Ramp's competitors use AI?
On the record: BILL launched its first suite of AI agents in fiscal 2026; Brex uses expense, review, audit and accounting agents; Amex agreed to buy Hyper, an agentic expense management company, and plans expense and insights agents; Navan says its Ava chatbot handled about 52% of user interactions; Mercury issues AI Agent Cards.
- Amex floats first new business card in 7 years
- Capital One completes acquisition of Brex
- Navan, Inc. Form 10-K for the fiscal year ended January 31, 2026
- American Express Delivers the Next Generation of Amex Corporate
- Amex Adds AI, Expense Tracking to Corporate Card to Counter Fintech Rivals
- BILL Holdings, Inc. Form 10-K for the fiscal year ended June 30, 2026
- Ramp vs Coupa (undated page, retrieved 2026-11-02)
- Ramp vs Mercury (undated page, retrieved 2026-11-02)
- Silicon Valley startups are about to hand corporate credit cards to AI agents
- Ramp Reaches $60 Billion Valuation as Annualized Revenue Tops $2 Billion
- American Express Company Form 10-K for the fiscal year ended December 31, 2025
- Capital One pushes deeper into AI, business payments
- American Express to Acquire Hyper, Adding to Its AI Expertise and Expense Management Capabilities
- Ramp vs Brex (undated page, retrieved 2026-11-02)
- Ramp vs Amex (undated page, retrieved 2026-11-02)
- Ramp vs Bill (undated page, retrieved 2026-11-02)
- Ramp vs SAP Concur (undated page, retrieved 2026-11-02)
- Ramp vs Expensify (undated page, retrieved 2026-11-02)
- Capital One Financial Corporation Form 10-K for the fiscal year ended December 31, 2025
- Expensify, Inc. Form 10-K for the fiscal year ended December 31, 2025
- Mercury Launches Spend with Agent Cards and Intelligent Budgets for the AI Era (Business Wire via Yahoo Finance)
- Mercury Launches AI-Native Payroll (Business Wire via Morningstar)
- Issuing Bank Schedule (last updated April 22, 2026)
- Ramp agents: Let finance teams do finance
- AP just became autonomous
- Close the Gap Between Signed and Paid
- Buy at the speed of AI
- Paylocity Holding Corporation Form 10-K for the fiscal year ended June 30, 2026
- SAP Showcases New AI Capabilities, Integrated Travel and Expense Enhancements, and Global Partnerships at SAP Concur Fusion 2026
- Ramp Launches Ramp Treasury: Cash Management that Maximizes Every Dollar with Minimal Effort
- Ramp reaches $60B valuation as it pushes deeper into AI
- Ramp Raises Series F at $44 Billion Valuation
- Ramp hits $44 billion valuation as companies look to rein in AI spending
- Ramp hits $22.5B valuation just 45 days after reaching $16B
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