▼ Summary
– Ramp, a $32 billion US spend management platform, acquired the licensed payments provider Billhop to launch its services in the UK and EU this summer.
– The acquisition provides Ramp with the necessary regulatory licenses to directly onboard UK and EU-based companies as primary customers for the first time.
– This expansion occurs as Ramp’s key US rival, Brex, is being acquired by Capital One, leaving Ramp as the dominant independent platform in the US market.
– Billhop’s infrastructure is specifically designed to navigate Europe’s fragmented B2B payment systems and lower corporate card penetration.
– Ramp’s broader platform processes over $100 billion annually and focuses on helping businesses save money, with the median customer saving 5% in their first year.
The corporate spend management landscape is undergoing a significant transformation with Ramp’s strategic acquisition of Stockholm-based fintech Billhop. This move provides the $32 billion New York platform with the essential regulatory licenses to launch its corporate cards and finance tools directly for businesses in the United Kingdom and European Union starting this summer. The acquisition marks a pivotal expansion for Ramp, allowing it to onboard European and British companies as primary customers for the first time.
This European push arrives at a crucial moment. Ramp’s longtime U.S. rival, Brex, recently agreed to a $5.15 billion acquisition by Capital One, a deal expected to finalize later in 2026. While Brex navigates its transition under a traditional bank, Ramp is seizing the opportunity to establish itself in a new market. The purchase of Billhop is fundamentally an infrastructure play, granting Ramp the authorized standing it lacked to process payments across both the European Economic Area and the UK as separate jurisdictions.
Billhop holds a valuable Swedish Payment Institution license and is separately authorized by the UK’s Financial Conduct Authority. Founded in 2012, the company specializes in enabling businesses to pay invoices by credit card, even to suppliers that typically do not accept them. This model directly tackles the fragmented B2B payment infrastructure common across European national markets. As part of the deal, Ramp will establish its first international offices in London and Stockholm.
Ramp CEO Eric Glyman stated that companies headquartered in the UK and EU will soon be able to leverage Ramp’s platform directly, which the company claims helps the median customer save 5% and grow revenue by 16% in their first year. Billhop CEO Niklas Bothén described the union as a chance to realize his company’s mission of removing B2B payment friction “at a much larger scale.”
Ramp’s broader platform processes over $100 billion in annual purchases for more than 50,000 customers, offering corporate cards, expense management, vendor payments, and automated bookkeeping. The company reached over $1 billion in annualized recurring revenue in late 2025. Its growth contrasts with Brex’s challenges, as the latter’s valuation was marked down amid reduced spending from its core startup customer base.
Entering Europe presents a distinct set of challenges, including lower corporate card penetration and varied regulatory requirements across jurisdictions. Billhop’s existing framework is specifically designed to bridge the gap between card-paying buyers and non-card-accepting suppliers, addressing the very structural friction that has hindered other U.S. platforms. The financial terms of the acquisition were not disclosed.
(Source: The Next Web)
