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The model stepped out wearing what looked like an engagement ring on Monday

By Lindsay Kimble
Updated February 09, 2016 09:00 AM
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Miranda Kerr might just have found the one!

The Australian supermodel, 32, is sparking engagement rumors after stepping out with a flashy ring on her left hand, Monday. The mom of one kept the rock mostly concealed as she walked through a parking garage.

So who’s the lucky man (if the star is, indeed, engaged)? Likely Kerr’s boyfriend, Snapchat founder and CEO Evan Spiegel, 25.

The pair were first spotted together in Los Angeles in June 2015, but met in 2014 at a Louis Vuitton dinner in New York, Kerr told E! News last November.

Spiegel is only halfway through his twenties and already a self-made billionaire because of the popular social media app. The Stanford grad is worth an estimated $2.1 billion, according to Forbes.

“We just started out as friends and eventually it developed into more,” Kerr told E!, adding of the young mogul, “He’s just a really kind person and very genuine and very authentic and I really appreciate that about him. And also he’s very intelligent.”

Kerr even said that Spiegel was even involved in January birthday party planning for her son Flynn, 5, with ex husband Orlando Bloom.

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Bloom, who split from Kerr in 2013, has been making headlines as of late for his own romance with Katy Perry.

A source previously PEOPLE the pair spent all weekend with Flynn and looked “so happy” together.