In the last eight years, the corporate charge card market (see definition below) has seen the launch of 3 major digital players (Ramp in 2019, Brex in 2017, and Divvy in 2016) that are already multi-unicorns. In addition, Expensify (founded in 2008), went public in Nov 2021 and was worth nearly $5 billion before falling to its sub-$200 million value now.
Below is a list of the 17 challenger business credit cards currently active in the United States. Five have been acquired in the past few years including two by large legacy banks (Capital One bought Lola, US Bancorp acquired Bento for Business) and will stay on this list as long as they operate as independent brands (Lola is no longer a separate unit).
NEW: Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Check out our latest lists: SMB online lenders (33) | SMB challenger banks (12) | SMB insurers (15) | SMB charge cards/expense management (16) | Billpay & invoicing (16)| Payment processors (7) | Subscription processors (7) | SMB digital accounting/bookkeeping (21) | Equity crowdfunding (7)
The FAB Score Ranking (Fintech Attention Barometer) is a proxy for the size of a private fintech company.
Leading USA Digital Small Business Charge Cards
ranked by FAB score (Fintech Attention Barometer**)
| Rank | Was | Company | FAB Score** | Reviewed | Founded | HQ | Funding ($M) | Visits (Aug ’24) | Funding Last 3 yrs |
| 1 | 1 | Ramp | 1103 | 20 Nov 24 | 2019 | NYC | $1,826 | 2,100,000 | $1,171 |
| Ad* | Rho | 53 | 20 Nov 24 | 2018 | NYC | $205 | 103,000 | ||
| Ad* | 4 | Jeeves | 170 | 20 Nov 24 | 2019 | NYC | $441 | 61,000 | $255 |
| 2 | 2 | Expensify | 410 | 20 Nov 24 | 2008 | SF | $401 | 1,800,000 | $0.0 |
| 3 | 3 | Bill (FKA Divvy) | 181 | 20 Nov 24 | 2016 | Utah | $418 | 600,000 | $0.0 |
| 4 | 4 | Jeeves | 170 | 20 Nov 24 | 2019 | NYC | $441 | 61,000 | $255 |
| 5 | 5 | Spendesk | 165 | 20 Nov 24 | 2016 | Paris | $312 | 400,000 | $110 |
| 6 | 6 | Tribal Credit | 134 | 20 Nov 24 | 2016 | SF | $293 | 7,700 | $250 |
| 7 | 7 | Airbase (Paylocity) | 111 | 20 Nov 24 | 2017 | SF | $252 | 79,000 | $161 |
| 8 | 8t | Coast | 104 | 20 Nov 24 | 2020 | NYC | $166 | 94,000 | 159.5 |
| 9 | 8t | Bonsai | 97 | 20 Nov 24 | 2016 | SF | $0.1 | 480,000 | 0 |
| 10 | 10 | Parker | 85 | 20 Nov 24 | 2019 | NYC | $157 | 13,000 | $157 |
| 11 | 11 | Karat | 55 | 20 Nov 24 | 2019 | SF | $101 | 58,000 | $70.0 |
| 12 | NEW | Rho | 53 | 20 Nov 24 | 2018 | NYC | $205 | 103,000 | |
| 13 | 12 | Center | 39 | 20 Nov 24 | 2018 | Seattle | $102 | 27,000 | $45.0 |
| 14 | 13 | Teampay | 30 | 20 Nov 24 | 2016 | NYC | $65 | 14,000 | $47.0 |
| 15 | 14t | PEX Card | 20 | 20 Nov 24 | 2007 | NYC | $9.9 | 120,000 | $5.0 |
| 16 | 14t | Revenued | 10 | 20 Nov 24 | 2015 |
New Jersey
|
52,000 | ||
| 17 | 17 | Profit (was Swipedom) | 7 | 20 Nov 24 | 2019 | NYC | $1.5 | 16,000 | $0.0 |
| 18 | 16 | Dash.fi (was FunnelDash) | 6 | 20 Nov 24 | 2016 | Austin | $3.7 | 21,000 | $0.0 |
| 19 | 18 | Bento for Business (US Bank) | 5 | 20 Nov 24 | 2014 | SF | $25 | 12,000 | $0.0 |
“Was” = rank on 1 Oct 2024
Notes:
*FintechLabs may receive referral revenues or sponsorships from issuers. This does not impact their FAB score but could impact placement on the site.
**FAB score = Fintech Attention Barometer, a proprietary measure of company size calculated by Fintech Labs. Inputs primarily include funding, website traffic and employee count.
***Funding includes both equity and debt amounts (millions of U.S. dollars)
Definition: Charge cards require the balance to be paid in full each month; credit cards allow the balance to be rolled over, often at a relatively high interest rate).
Meet BILL. Your financial operations platform.
The intelligent way to create and pay bills, send invoices, manage expenses, control budgets, and access the credit your business needs to grow—all on one platform.
Founded: 2016 | HQ: Utah | Funding: $418M
Profiles: Challenger SMB Charge Card Issuers
1. Ramp
FAB Score = 1,100 (up 75 since Sep)
– HQ: NYC
– Founded: 2019
– Valuation: $7.2B based on July 2024 secondary stock sales (FintechLabs) <<<< Highest
– Raised $1.8B including $156M in April 2024, $300M in August 2023, $750M in 2022 (Crunchbase) <<< Highest
– Website visits: 2.1M (SimilarWeb, Oct 2024) <<<< Highest (tie)
– Employees: 850 (Pitchbook, down 141 since Sep, up 151 since Jan, down 80 from Oct ’23, up 192 since July ’23) <<<< Highest
– Articles: 118 (Crunchbase)
– LinkedIn: 111,000 followers (1,300 employees, up 260 since Sep, up 30 since July, up 530 since Jan, up 580 since July ’23)
– G2: 4.8 (2,040 reviews, up 10 since Sep)
2. Expensify
FAB Score = 410 (up 20)
– HQ: SF
– Founded: 2008
– Raised $401M (prior to 2022) (Crunchbase)
– Annual Revenue: $137M (TTM)
– Market cap: $267M (NASDAQ:EXFY, 20 Nov 2024)
– Website visits: 1.8M (SimilarWeb, Oct 2024)
– Employees: 133 (Pitchbook, down 5 since Jan, down 5 since Oct ’23, down 61 since Feb ’23)
– Articles: 456 (Crunchbase) <<<< Highest
– LinkedIn: 17,000 followers (225 employees, down 3 since Sep, down 9 since July, down 21 since Jan, down 23 since Oct ’23, down 16 since July ’23)
– TrustRadius: 7.5 (394 reviews, up 3 since July)
3. Bill (fka Divvy)
FAB Score = 181 (down 16)
– HQ: Utah
– Founded: 2016
– Valuation: $2.5B (June 2021 exit)
– Raised $418M (prior to 2022) (Crunchbase)
– Website visits:
Divvy.co >> 600,000 (SimilarWeb, Oct 2024)
Bill.com >> 4.2 million (SimilarWeb, Oct 2024)
– Employees: 443 (Pitchbook), unchanged since May
– Articles: 86 (Crunchbase)
– LinkedIn 35,000 followers (210 employees, down 5 since Sep, down 46 since July, down 103 since Jan, down 140 since Oct ’23, down 240 since July ’23)
– Trustpilot: 4.3 (795 reviews, unchanged since May)
4. Jeeves
FAB Score = 170 (up 3)
– HQ: NYC
– Founded: 2018
– Raised $443M including $75M in May 2024 (debt) and $180M in 2022 (Crunchbase)
– Valuation: $2.1B based on March 2022 round (FintechLabs)
– Website visits: 61,000 (SimilarWeb; Oct 2024)
– Employees: 182 (Pitchbook), down 55 since Jan, down 55 since May ’23
– Articles: 31 (Crunchbase)
– LinkedIn 31,000 followers (253 employees, down 6 since Sep, down 1 since July, down 10 since Jan, down 6 since Oct ’23, up 14 since July ’23)
– Trustpilot: 4.1 (103 reviews up 2 since Sep)
5. Spendesk
FAB score = 165 (up 4)
– HQ: Paris
– Founded: 2016
– Raised: $312M including $110M in 2022 (Crunchbase)
– Valuation: $1.1B based on Jan 2022 round (FintechLabs)
– Website traffic: 400,000 (SimilarWeb; Oct 2024)
– Employees: 1,000 (Pitchbook, up 400 since July, up 400 since Jan, up 375 since Oct ’23, up 415 since July ’23)
– Article citations: 69 (Crunchbase)
– LinkedIn 42,000 followers (467 employees, down 27 since Sep, down 49 since July, down 123 since Jan, down 162 since July ’23)
6. Tribal
FAB Score = 134 (unchanged)
– HQ: SF
– Founded: 2016
– Raised $293M ($100M in 2022 and $150M debt in Oct 2023) (Crunchbase)
– Website visits: 7,700 (SimilarWeb, Oct 2024)
– Employees: 400 (Pitchbook, unchanged since May ’23)
– Articles: 22 (Crunchbase)
– LinkedIn 26,000 followers (169 employees, down 3 since Sep, down 5 since July, down 89 since Jan, down 152 since Oct ’23, down 134 since July ’23)
– Trustpilot: No reviews
7. Airbase (acquired by Paylocity 4 Sep 2024, subject to approval)
FAB Score = 111 (unchanged)
– HQ: SF
– Founded: 2017
– Raised $252M (including $161M in 2022) (Crunchbase)
– Website visits: 79,000 (Aug 2024, SimilarWeb)
– Employees: 464 (Pitchbook, up 8 since May, up 62 since Jan, up 61 since Oct ’23, up 191 since July ’23)
– Articles: 217 (Crunchbase)
– LinkedIn 50,000 followers (375 employees)
– G2: 4.7 (1,600 reviews, up 10 since Sep)
8. Coast
FAB Score = 105 (up 5)
– HQ: NYC
– Founded: 2020
– Raised: $166M including $40M in July 2024, $93M in March 2024, $28M in Feb 2022 (Crunchbase)
– Website traffic: 94,000 (Oct 2024, SimilarWeb)
– Employees: 107 (Pitchbook, up 4 since July, up 8 since May)
– LinkedIn followers: 4,000 (116 employees, up 7 since Sep, up 13 since Aug, up 18 since May)
– Trustpilot: 3.3 (57 reviews, up 1 since Sep)
9. Bonsai
FAB Score = 97 (down 2)
– HQ: San Francisco
– Founded: 2016
– Raised: $120,000+ (Crunchbase)
– Website traffic: 480,000 (Oct 2024, SimilarWeb)
– Employees: 56 (Linkedin)
– Articles: 9 (Crunchbase)
– LinkedIn followers: 4,000 (56 employees, up 1 since Sep, up 5 since July, up 7 since Jan, up 7 since Oct ’23, up 24 since July ’23)
– Trustpilot: 4.1 (450 reviews, up 4 since Sep)
10. Parker
FAB Score = 85 (unchanged)
Founded: 2019
HQ: NYC
Raised: $157M in 2023 (Crunchbase)
Article citations: 1 (Crunchbase)
Employees: 37 (Pitchbook, unchanged since Jan, unchanged since Oct ’23, up 9 since July ’23)
Website visits: 13,000 (Oct 2024, SimilarWeb)
LinkedIn: 10,000 followers (113 employees, up 34 since Sep, up 36 since May, up 48 since Jan, up 56 since Oct ’23, up 77 since July ’23)
11. Karat
FAB Score = 55 (up 6)
– HQ: LA
– Founded: 2019
– Raised: $101M (including $70M in July 2023) (Crunchbase)
– Website visits: 58,000 (Oct 2024, SimilarWeb)
– Employees: 56 (Pitchbook, unchanged since Oct, up 5 since April)
– Articles: 16 (Crunchbase)
– Linkedin: 9,000 followers (35 employees, up 3 since Sep, up 1 since July, down 6 since Jan, down 19 since Oct ’23)
– Trustpilot: No reviews
12. Rho
FAB Score = 53
HQ: NYC
Founded: 2018
Traction:
– Raised $205M ($200M since Jan 2021) (Crunchbase)
– Website visits: 103,000 (SimilarWeb, Oct 2024)
– Employees: 198 (Pitchbook), down 2 from Dec 2023
Social:
– Articles: 18 (Crunchbase)
– Linkedin: 11,000 followers (205 employees, unchanged since Sep, down 7 from Dec ’23))
– Trustpilot: No reviews
13. Center
FAB Score = 39 (up 2)
– HQ: Bellevue, WA
– Founded: 2016
– Raised $102M including $30M in 2023 and $15M in 2o22 (Crunchbase)
– Website visits: 27,000 (Oct 2024, SimilarWeb)
– Employees: 193 (Linkedin)
– Articles: 15 (Crunchbase)
– LinkedIn 5,000 followers (197 employees, down 2 since Sep, down 7 since July, up 4 since Jan, up 4 since Oct ’23, up 27 since July ’23)
– G2: 4.6 (442 up 30 since Sep)
14. TeamPay, acquired by Paystand (April 2024)
FAB Score = 30 (up 2)
– HQ: NYC
– Founded: 2016
– Raised $65M, including $47M in 2022 (Crunchbase)
– Website visitors: 14,000 SimilarWeb; Oct 2024)
– Employees: 63 (Pitchbook), unchanged since Oct ’23, down 24 since July ’23
– Articles: 15 (Crunchbase)
– LinkedIn 4,000 followers (37 employees, down 1 since Sep, down 6 since July, down 9 since Jan, down 14 since Oct ’23, down 26 since July ’23)
– G2 rating: 4.4 (206 reviews, up 3 since Sep)
15 . PEX Card
FAB Score = 20 (up 12)
– HQ: NYC
– Founded: 2007
– Raised $9.9M (including $5M in 2024) (Crunchbase)
– Website visits: 120,000 (SimilarWeb; Oct 2024)
– Employees: 83 (Pitchbook, up 1 since July, down 8 since Jan, down 7 since Oct ’23, down 3 since July ’23)
– Articles: 2 (Crunchbase)
– LinkedIn 12,000 followers (81 employees, down 3 since Sep, down 1 since July, down 8 since Jan, down 8 since July ’23)
– Trustpilot: No reviews
16. Revenued
Fab Score = 10 (up 2)
– HQ: New Jersey
– Founded: 2015
– Raised: Unkown (Crunchbase)
– Website visits: 52,000 (Oct 2024, Similarweb)
– Employees:
– Articles: 8 (Crunchbase)
– Linkedin: 2,400 followers (25 employees, down 2 since Sep, down 4 since July)
– TrustPilot: 4.7 (830 reviews, up 47 since Sep)
17. Profit (was Swipedom), acquired by Paymentus
FAB Score = 7 (up 1)
– HQ: NYC
– Founded: 2019
– Raised $1.5M (including $1M in 2021) (Crunchbase)
– Website visits: 16,000 (SimilarWeb; Oct 2024)
– Employees: 9 (Pitchbook, unchanged since July)
– Articles: 5 (Crunchbase)
– Linkedin: NA
– Trustpilot: No reviews
18. Dash.fi (was FunnelDash)
FAB Score = 6 (down 1)
– HQ: Austin
– Founded: 2016
– Raised $3.7 (Crunchbase)
– Website visits: 21,000 (SimilarWeb Oct 2024)
– Employees: 17 (LinkedIn, up 4 since July)
– Articles: 0 (Crunchbase)
– LinkedIn 910 followers (34 employees, up 3 since Sep, up 12 since July, up 12 since Jan, up 17 since Oct ’23, up 21 since July ’23)
– G2: 4.6 (64 reviews, unchanged since Oct ’23)
19. Bento for Business, acquired by US Bank (Aug 2021)
FAB Score = 5 (up 1)
– HQ: NYC
– Founded: 2007
– Raised $24.5M (Crunchbase)
– Website visits: 12,000 (SimilarWeb; Oct 2024)
– Employees: 43 (Pitchbook, unchanged since April ’23)
– Articles: 43 (Crunchbase)
– LinkedIn 2,000 followers (23 employees, down 3 since Sep, down 6 since July, down 15 since Jan, down 24 since Oct ’23, down 20 since July ’23)
– Trustpilot: 2.0 (102 reviews, unchanged since July ’23)
Not ranked (focusing on larger businesses, enterprises or cards-as-a-service)
Brex
– HQ: SF
– Founded: 2017
– Valuation: $12B (based on Oct 2021 round)
– Raised $1.46B ($725M since Jan 2021) (Crunchbase)
– Website visits: 860,000 (SimilarWeb, Dec 2023)
– Employees: 1,150 (Pitchbook)
– Articles: 379 (Crunchbase)
– Linkedin: 140,000 followers (1,514 employees)
– Trustpilot: 3.0 (564 reviews)
Comcard (waitlist only, Oct 2023)
– HQ: LA
– Founded: 2019
– Raised $200k (prior to 2021) (Crunchbase)
– Website visits: INA
– Employees: 3 (Linkedin, Dec 2023)
– Articles: 1 (Crunchbase)
– Linkedin: 96 followers (3 employees)
– Reviews: NA
Lola (acquired by Capital One, 2021, separate brand discontinued 2023)
– HQ: Boston
– Founded: 2018
– Raised $81.7M (prior to 2021) (Crunchbase)
– Website visits (Dec 2023): <5,000 (SimilarWeb)
– Employees: 57 (Pitchbook)
– Articles: 4 (Crunchbase)
– Linkedin: 6,700 followers (24 employees Jan 2024)
– Trustpilot: 4.1 (215 reviews)
Mercantile
– HQ: NYC
– Founded: 2021
– Raised $22M in 2022 (Crunchbase)
– Website visits: <5,000 (SimilarWeb, Dec 2023)
– Articles: 4 (Crunchbase)
– Employees: 50 (Pitchbook), up 39 since April
– Linkedin: 400 followers (51 employees)
– No Trustpilot profile
