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:
- Charge card and expense management (see list here)
- Bill payments and/or invoicing specialists (see below)
- Payment processors (see list here)
- Subscription management platforms (see list here)
Note: The FAB Score (Fintech Attention Barometer) is a proxy for the size of a private fintech company.
| Images | Learn More | FAB Score* | Founded | Funding $M | ||
|---|---|---|---|---|---|---|
| http://fintechlabs.com/wp-content/uploads/2022/11/Untitled-design-4.png | Ad* Bonsai | 101 | San Francisco | 2016 | $0 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/1200px-Bill.com_Logo_2019.png | Bill.com | 368 | SF | 2006 | 504 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/Melio_logo.jpeg | Meilo | 258 | NYC | 2018 | 504 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/Wave_logo.svg | Wave Payments | 863 | Toronto | 2003 | 205 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/FreshBooks-Logo.png | Freshbooks | 599 | Toronto | 2003 | 205 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/avidxchange_Logo.jpeg | AvidXchange | 449 | Charlotte, NC | 2000 | 1,760 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/Tipalti.svg | Tipalti | 260 | SF | 2010 | 565 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/Invoice2go-Logo-@3x.png | Invoice2go | 162 | SF | 2002 | 15 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/vcita_logo.svg | Vcita | 131 | Seattle | 2010 | 15 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/Rho_Logo_Standard_RGB_Abyss-1.svg | Rho | 111 | NYC | 2018 | 205 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/Airbase-Logo.png | Airbase | 44 | SF | 2017 | 90.5 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/invoiceninja-300x220-1.png | InvoiceNinja | 44 | Hefa, Israel | 2014 | 0 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/Stampli-AP-Automation-logo.png | Stampli | 39 | SF | 2015 | 85 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/PaySimple-Logo.png | PaySimple | 31 | Denver | 2006 | 145 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/Routable_Logo.jpeg | Routable | 30 | Seattle | 2017 | 46 | Apply |
| http://fintechlabs.com/wp-content/uploads/2022/01/DWOLLA-logo.png | Dwolla | 19 | Des Moines | 2008 | 72 | Apply |
| Beanworks | 4 | Vancouver | 2012 | 12 | Apply | |
| Emburse | 16 | LA | 2014 | 0.1 | Apply |
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.
