Ramp buys Billhop to grow AI finance reach in Europe

Ramp has agreed to acquire Stockholm-based B2B payments provider Billhop, expanding Ramp's presence in Europe and the UK and adding Billhop's regulated payments infrastructure and bank and card-network partnerships.

Financial terms were not disclosed. Ramp positions itself as an AI-powered financial operations platform, while Billhop provides digital business payments across the European Economic Area and the UK.

Ramp Co-founder and CEO Eric Glyman tied the deal to the company's regional plans. "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 for them," he said.

European footprint

Founded in 2012, Billhop built an infrastructure that lets businesses route supplier payments through card-based rails when suppliers do not accept cards. It has worked with financial institutions and card industry participants on distribution, and says it partners with more than 30 international financial institutions, including global card networks and large commercial banks and card issuers in Europe and the UK.

Billhop operates through licensed entities in both the EEA and the UK. Billhop AB is a regulated Payment Institution that passports its licence across the EEA, while Billhop UK is locally regulated for the domestic UK market.

In recent years, Billhop says it has shifted its commercial focus toward enterprise customers, including large-cap and midcap firms. It reports a portfolio of multinational clients, including many Fortune 500 companies, alongside a growing number of midcap customers.

Performance claims

Billhop described 2025 as one of its strongest years. It reported transaction volume growth of well above 100% year on year and said it reduced its cost base by more than 50% over the same period. It also said revenue growth outpaced volume growth, citing pricing and mix changes and margin expansion, as the business moved toward profitability.

CEO Niklas Bothén described the period as one of operational change and product development. "The past year has been a highly eventful period for the company, marked by strong progress on several fronts. We have strengthened our position in the market, advanced our product capabilities, and harnessed technology to drive efficiency - resulting in a significantly leaner cost base and improved margins. I'm incredibly proud of what we've accomplished together with such a small but highly dedicated team; it is an achievement that speaks to the focus, discipline, and relentless ambition that define our organisation."

Card acceptance

A central part of Billhop's proposition is a buyer-funded BPSP model, which it says it "paved the way for" in Europe. Billhop describes the model as a response to low levels of card acceptance in B2B payments and puts the B2B payments market at $1.5 trillion annually.

Ingemar Sjögren, Billhop co-founder and a board director, said interest in the company's technology contributed to a sale process. "Over the past few years, we've seen a growing amount of interest in the technology we've built - both from partners and also other participants across the larger payments market recognizing Billhop's ambition to transform B2B payments. Consequently, we've engaged in discussions to explore the best path forward for Billhop and we're delighted to have completed our sale to Ramp," he said.

Platform integration

Ramp's product suite includes corporate cards and payments, vendor management, procurement, travel booking, and automated bookkeeping. It says it has more than 50,000 customers and processes more than $100 billion in purchases annually, and that customers have saved more than $10 billion and 27.5 million hours on its platform.

Billhop management described the deal as the next step after a decade of building distribution and regulated infrastructure in Europe.

"We are proud of the position we have managed to cement on the European market during the last decade, with a product and a team that have been successful in reimaging traditional B2B payments models. Taking the next step with Ramp is the natural progression for Billhop, and we look forward to seeing our vision continue to evolve and expand under their ownership," said Sebastian Andreescu, Co-founder and Board Director of Billhop.

Erik Malm, Billhop Co-founder and CTO, said the companies share an approach grounded in automation and iteration.

"From the start, we built our platform on a foundation of scalability and automation, and made it a core part of our mission to never get complacent and continue to iterate to ensure we leverage the latest technology available to us. Ramp shares that same DNA. Their tech-first approach makes this a perfect fit, and together we'll be able to accelerate innovation and impact at a whole new scale," said Malm.

The companies expect the combined group to expand across Europe and the UK, with Billhop's licences and relationships supporting Ramp's wider rollout in the region.