Fintech startup Ramp plans to raise $1 billion, with a valuation potentially reaching $60 billion.

According to Bloomberg, sources familiar with the matter stated that fintech startup Ramp is in early-stage negotiations with investors for a new funding round at a valuation of approximately $60 billion. The company is considering raising around $1 billion in primary market capital. Three months ago, Ramp was valued at $44 billion. Negotiations are ongoing and specific terms are subject to change. Ramp declined to comment.