Fungi and plants have engaged in intimate symbioses that are globally widespread and have driven terrestrial biogeochemical processes since plant terrestrialisation >500 Mya. Recently, hitherto unknown nutritional mutualisms involving ancient lineages of fungi and non-vascular plants have been discovered. However, their extent and functional significance in vascular plants remains uncertain. Here, we provide first evidence of abundant carbon-for-nitrogen exchange between an early-diverging vascular plant (Lycopodiaceae) and Mucoromycotina (Endogonales) fine root endophyte regardless of changes in atmospheric CO2 concentration. Furthermore, we provide evidence that the same fungi also colonize neighbouring non-vascular and flowering plants. These findings fundamentally change our understanding of the evolution, physiology, interrelationships and ecology of underground plant-fungal symbioses in terrestrial ecosystems by revealing an unprecedented nutritional role of Mucoromycotina fungal symbionts in vascular plants.