Ramp announced it has acquired Billhop, a payments platform based in Stockholm and London, licensed in the UK and Sweden. The deal is aimed at strengthening Ramp’s ability to support customers operating across the UK and Europe while expanding its international footprint.
As part of the expansion, Ramp will open its first international offices in London and Stockholm. The acquisition also gives the company a licensed payments platform and regional presence that will help deepen its capabilities across European markets.
Ramp said nearly half of its customers already transact internationally across more than 180 countries every week. The company currently supports global operations through worldwide payment capabilities and local currency cards and payments in Canada, Australia, Japan, Mexico, and Singapore. The addition of Billhop is intended to strengthen Ramp’s ability to support businesses operating throughout the UK and the European Union.
Beginning this summer, Ramp plans to onboard businesses headquartered in the UK and EU directly for the first time. Thousands of U.S. companies already use Ramp to manage spend and payments across Europe.
Ramp also plans to build out its European team across go-to-market, partnerships, and operations roles in the coming months, with plans to more than double the size of its UK team within the next year.
Billhop, founded in 2012 and headquartered in Stockholm, provides a payments infrastructure that enables businesses to optimize working capital and streamline vendor payments by allowing invoices to be paid by card even when suppliers do not accept cards.
Ramp, founded in 2019, offers a financial operations platform that combines payments, corporate cards, vendor management, procurement, travel booking, and automated bookkeeping. The company says more than 50,000 customers use the platform and that businesses have saved over $10 billion and 27.5 million hours using its tools.
KEY QUOTES:
“We’ve spent years building Ramp into something the most ambitious US companies rely on. This summer, for the first time, companies headquartered in the UK and EU will be able to use Ramp directly. In their first year, the median Ramp customer saves 5% and grows revenue 16%. Europe is home to extraordinary companies. We can’t wait to get to work.”
Eric Glyman — Co-Founder And CEO, Ramp
“Our mission at Billhop has always been to remove friction from B2B payments and make it easier for businesses to manage their spend. Joining Ramp allows us to realise that vision at a much larger scale. Together, we can help companies move money across countries and currencies faster, more intelligently, and with less complexity.”
Niklas Bothén — CEO, Billhop
“To sustain that, we need systems that eliminate overhead rather than create it – and Ramp has become one of those systems. Seeing them expand their capabilities in Europe is exciting; it means the infrastructure that helps us move fast is growing right alongside us.”
Maciej Mylik — Finance And RevOps Lead, ElevenLabs
“We have the right economic plan, and Ramp’s decision demonstrates our country’s strength as a place for fast growing global businesses to invest and scale. Their new investment will support innovation, productivity and high value job creation, contributing to the UK’s long term economic growth.”
Rachel Reeves — Chancellor Of The Exchequer, United Kingdom
