Ramp, a six-year-old corporate card and expense management startup, is in discussions with investors to raise $350 million at a valuation of about $21 billion with the investment, according to three people with direct knowledge of the fundraising, just a month after raising at a $16 billion valuation. Existing investor Iconiq is in talks to lead the round.

Back-to-back financings of this scale have become more common for in-demand AI companies, like coding upstart Anysphere and AI search engine Perplexity. But they’re unusual among fintech startups.