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The New York City-based company is launching its business expense management and financial automation software in Canada. It’s also hiring staff in Toronto to support customers in the country, although it didn’t say how many. (The Logic)
Talking point: Ramp pitches itself as a way for companies to manage growing AI spending, helping them reroute tasks to cheaper models. Its Canadian expansion means big competition for the many Canadian fintechs and banks that are already vying for small business customers, including Float, Wealthsimple and EQ Bank. Ramp has grown fast since its 2019 launch. In June, it raised US$750 million at a US$44-billion valuation from investors including the Ontario Teachers’ Pension Plan, disclosing more than US$1 billion in annual revenue. It has been offering Canadian dollar credit cards since 2024.
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