Ramp, the New York-based financial operations platform valued at $32 billion, has announced the acquisition of Billhop, a fintech based in Stockholm.

The deal aims to enable Ramp to launch corporate cards and finance tools in the UK and the European Union by this summer. Billhop is a licensed payments provider, which will facilitate Ramp's entry into the European market.

This acquisition represents a significant step for Ramp in expanding its business beyond the US borders. The company aims to compete with other players in the corporate spend management sector, offering innovative solutions for European businesses.