Ramp, the New York-based corporate card and spend-management company, announced on March 13, 2026 that it had acquired Billhop, a Stockholm payments company that lets businesses pay supplier invoices by card even when the supplier does not accept cards. Neither company disclosed the price or other terms.
Billhop holds a Swedish payment institution licence supervised by Finansinspektionen, which it passports across the European Economic Area, and its UK subsidiary is authorised by the Financial Conduct Authority. Those licences allow Ramp to take on companies headquartered in the UK and EU as direct customers, something it said would begin in the summer of 2026, with a waitlist opened at the time of the announcement.
As part of the deal Ramp is opening its first international offices, in London and Stockholm. Billhop's announcement named Niklas Bothén as chief executive and did not describe changes to its leadership or product.
What Billhop built
Billhop was founded in 2012. Its service lets a company pay supplier invoices with a corporate card, including to suppliers that do not take cards, so the buyer can hold on to cash for longer and banks and card issuers can extend card use into business payments. Billhop said low card acceptance is a structural problem in business-to-business payments, a market it put at $1.5 trillion a year.
The company distributes its product through more than 30 financial institutions, mainly global card networks along with large European and UK commercial banks and card issuers, which offer it to their corporate clients. Its customers include multinational companies, many of them in the Fortune 500, and a growing number of mid-sized firms.
Billhop said 2025 was one of its strongest years, with transaction volume more than doubling while it cut its cost base by more than half. Revenue grew faster than volume and the company said it was moving toward profitability.
“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.”
The founders and the funding
Billhop was started by Erik Malm, Sebastian Andreescu and Ingemar Sjögren. Malm is chief technology officer, and Andreescu and Sjögren sit on the board. Bothén joined as chief operating officer in 2020 and became chief executive in a planned transition in late 2024, The Next Web reported.
In 2016 the company raised 18 million Swedish kronor (about $2.1 million) from Almi Invest and private investors, according to an announcement at the time. In February 2021 it raised a €4 million (about $4.8 million) Series A from the London fintech investor Element Ventures, Silicon Canals reported. It had 22 full-time staff then. Billhop did not disclose a current headcount, describing its team only as small.
Sjögren said the company had seen growing interest in its technology from partners and others in the payments market and had held talks on the best way forward before agreeing to sell to Ramp.
Why Ramp is buying
Ramp was founded in 2019 and sells corporate cards, bill payments, procurement, travel booking and automated bookkeeping. It says it has more than 50,000 customers and handles more than $100 billion in purchases a year. It raised a $312 million Series E in November 2025 at a $32 billion valuation, The Next Web reported.
Ramp already supported payments in more than 180 countries and local-currency cards in several markets, but only for businesses headquartered in the US. The Next Web described the Billhop purchase as mainly a way to gain licences and infrastructure that Ramp could not build quickly on its own in two separate jurisdictions.
Ramp said it plans to hire in go-to-market, partnerships and operations in Europe and to more than double its UK team within a year, Fintech Global reported.
Competition in corporate cards
The deal came two months after Capital One agreed in January 2026 to buy Brex, Ramp's main US rival, for $5.15 billion, a deal expected to close in the second quarter. In Europe, Ramp faces a market where corporate card use is lower and payment rules differ from country to country.
