Ramp launches in Europe this summer after acquiring Billhop for UK and EU payment licenses

Ramp is launching in Europe this summer following its acquisition of Billhop, which provides the company with payment licenses in the UK and EU. Starting this summer, European businesses without a US entity can sign up for Ramp directly for the first time.

CEO Eric Glyman said the company wanted to earn the right to enter the market rather than staff a token office. The groundwork includes legal authority to move funds, compliance with local privacy requirements, and relationships with regulated entities. Jacob Wallenberg, who joined Ramp when it had around 20 people and sits on the board of EQT, will lead the European expansion.

“We've acquired Billhop, which grants Ramp the ability to have local licenses both in the UK and the EU, and come this summer, companies that are operating out of Europe, even without a US entity, will be able to sign up for Ramp. The average business on Ramp grew their revenue by 16% last year, which is multiple times faster than the US average.”

Commercial thesis

Glyman frames the European opportunity as structurally identical to the US pitch: consolidating fragmented stacks of cards, expenses, bill payments, AR, procurement, and approvals into a single system. Ramp's US benchmarks show demand exists. The average business on Ramp cut expenses by 5% and grew revenue 16% last year, well above the US average.

AI accelerates the localization work. Integrations with local software move faster, and translation becomes more tractable. This matters given the nuance embedded in European financial conventions and sales preferences. Ramp has a partial head start from working with global customers like Shopify and Airbnb, which already required localizing the product across multiple geographies.

Ramp is targeting companies scaling fully within Europe or starting there and expanding outward, not just multinational subsidiaries of US businesses.