Money and cash flow are the lifeblood of a small business. It’s an area often overlooked by traditional online banking services, so numerous specialists have launched during the past decade-plus to better serve SMB needs. Most providers operate on a dual revenue model which includes:
a.) monthly subscription fees to create predictable recurring revenue
b.) transaction fees to cover interchange and other variable processing costs.

We divided the payment providers into four categories:

  1. Charge card and expense management (see list here)
  2. Bill payments and/or invoicing specialists (see below)
  3. Payment processors (see list here)
  4. Subscription management platforms (see list here)

Note: The FAB Score (Fintech Attention Barometer) is a proxy for the size of a private fintech company.

ImagesLearn MoreFAB Score*FoundedFunding $M
http://fintechlabs.com/wp-content/uploads/2022/11/Untitled-design-4.pngAd* Bonsai101San Francisco2016$0Apply
http://fintechlabs.com/wp-content/uploads/2022/01/Wave_logo.svgWave Payments1505Toronto2003$80Apply
http://fintechlabs.com/wp-content/uploads/2022/01/FreshBooks-Logo.pngFreshbooks987Toronto2003330Apply
http://fintechlabs.com/wp-content/uploads/2022/01/1200px-Bill.com_Logo_2019.pngBill.com582SF2006496Apply
http://fintechlabs.com/wp-content/uploads/2022/01/avidxchange_Logo.jpegAvidXchange491Charlotte, NC20001,760Apply
http://fintechlabs.com/wp-content/uploads/2022/01/Tipalti.svgTipalti412SF2010565Apply
http://fintechlabs.com/wp-content/uploads/2022/01/Melio_logo.jpegMeilo324NYC2018504Apply
http://fintechlabs.com/wp-content/uploads/2022/01/vcita_logo.svgVcita145Seattle201015Apply
http://fintechlabs.com/wp-content/uploads/2022/11/Untitled-design-4.pngBonsai101San Francisco2016$0Apply
http://fintechlabs.com/wp-content/uploads/2022/01/Stampli-AP-Automation-logo.pngStampli88SF201585Apply
http://fintechlabs.com/wp-content/uploads/2023/03/Plastiq-logo.svgPlastiq85SF2012142Apply
http://fintechlabs.com/wp-content/uploads/2022/01/Autobooks-Becomes-First-Fintech-to-Launch-in-Q2-Partner-Marketplace.jpegAutobooks54Detroit2015$97.8Apply
http://fintechlabs.com/wp-content/uploads/2022/01/PaySimple-Logo.pngPaySimple44Denver2006145Apply
http://fintechlabs.com/wp-content/uploads/2022/01/Invoice2go-Logo-@3x.pngInvoice2go42SF200215Apply
http://fintechlabs.com/wp-content/uploads/2022/01/invoiceninja-300x220-1.pngInvoiceNinja35Hefa, Israel20140Apply
http://fintechlabs.com/wp-content/uploads/2022/01/Routable_Logo.jpegRoutable27Seattle201746Apply
http://fintechlabs.com/wp-content/uploads/2023/03/online-check-writer-logo1.pngOnlinecheckwriter23SF2008$2.7Apply
http://fintechlabs.com/wp-content/uploads/2023/03/BillerGenieLogo_Text-Only.pngBillerGenie16Miami20189.5Apply
http://fintechlabs.com/wp-content/uploads/2023/03/Emburse-Logo_FullColor-Dark.pngEmburse16LA20140.1Apply
http://fintechlabs.com/wp-content/uploads/2022/01/cropped-Beanworks-by-Quadient-logo.pngBeanworks4Vancouver201212Apply

Source: FintechLabs, 15 Dec 2021 using data from Crunchbase, SimilarWeb, SEMrush

* We have excluded PayPal from this list because they are more of an enterprise solution, and less importantly were founded in 1998, so a little old/established for a “challenger” list.
**As nerds do, we are developing a proprietary score measuring the adoption of digital financial services at private companies that do not release traditional metrics (# customers, deposits, AUM, etc). We call it the FAB score, standing for Fintech Attention Barometer. The score uses money raised, valuation and website traffic as a proxy for company size and velocity of growth. It’s a work in progress, so expect changes down the road.
**Funding is the amount invested into the company as either equity or debt.