Ramp is in talks to raise about $1 billion at a valuation of roughly $60 billion, according to people familiar with the discussions, although terms could still change. The proposed valuation is about 36% above the $44 billion level reached three months earlier. Founded in 2019, Ramp has expanded from startup expense reimbursement and corporate cards into payment processing, bill payment, accounting automation and AI-powered procurement and risk controls. The company has raised approximately $3 billion to date from investors including ICONIQ, Thrive Capital and Founders Fund. Ramp’s annualized revenue exceeded $1.5 billion in June, while its platform uses artificial intelligence to categorize expenses, identify unusual spending and manage costs associated with large-language-model services. Its competitive position is also evolving: Brex, a major rival, was acquired by Capital One Financial for $5.15 billion.