Ramp in Early Talks to Raise ~$1B at $60B Valuation, Up From $44B in June

Bloomberg reports Ramp is in early talks to raise about $1 billion at roughly a $60 billion valuation, up from $44 billion in June and $32 billion last November. The fintech, whose annualized run rate is near $1.5 billion across 70,000+ customers, has pitched investors on AI-powered procurement and expense automation — including tools to categorize spend and manage enterprise LLM API costs — as central to its growth story. Terms are early and could change.