Ramp, the fintech company co-founded by Lebanese-born Karim Atiyeh, has reached a US$32 billion valuation after raising US$300 million in a new funding round.

The New York-based company, now one of the highest-valued private fintechs globally, has seen rapid growth. Ramp reports more than 50,000 customers, over US$100 billion in annual transaction volume, and recently passed US$1 billion in annualised revenue.

The new valuation puts Ramp above Lebanon’s current GDP, which is at roughly $30 billion.

This latest raise reflects Ramp’s expansion in spend management and financial automation, as the company continues to scale.