With Brex’s arrival on the scene in 2018 followed by a meteoric rise to multi-unicorn status, there has been considerable attention to, and investment in business credit/charge cards (see definition below). The most recent example: Divvy’s $2.5B exit to Bill.com less than 5 years after founding, a value increase of almost $50M per MONTH!
Here is a list of the 15 challenger business credit cards currently active in the United States. The top 10 are profiled after that.
| Rank | Company | FAB Score | Reviewed | Founding | HQ | Funding ($M) |
| 1 | Brex | 469 | 29 Aug ’21 | 2017 | SF | $1,200 |
| 2 | Ramp | 328 | 29 Aug ’21 | 2019 | NYC | $610 |
| 3 | Expensify | 185 | 29 Aug ’21 | 2008 | SF | $38.2 |
| 4 | Divvy (Bill.com) | 155 | 29 Aug ’21 | 2016 | Utah | $418 |
| 5 | Rho | 62 | 29 Aug ’21 | 2018 | NYC | $120 |
| 6 | Tribal Credit | 19 | 29 Aug ’21 | 2016 | SF | $43.4 |
| 7 | Karat | 18 | 29 Aug ’21 | 2019 | SF | $30.6 |
| 8 | Lola | 16 | 29 Aug ’21 | 2015 | Boston | $81.7 |
| 9 | Bento for Business | 14 | 29 Aug ’21 | 2014 | SF | $18.5 |
| 10 | TeamPay | 8 | 29 Aug ’21 | 2016 | NYC | $21.0 |
| 11 | PEX Card | 4 | 29 Aug ’21 | 2007 | NYC | $4.9 |
| 12 | Swipedom | 3 | 29 Aug ’21 | 2019 | NYC | $0.5 |
| 13 | Comcard | 3 | 29 Aug ’21 | 2019 | LA | $0.2 |
| 14 | Center | 3 | 29 Aug ’21 | 2018 | Seattle | $5.0 |
| 15 | FunnelDash | 0 | 29 Aug ’21 | 2016 | Austin | $0.5 |
Source: FintechLabs, Crunchbase, SEMrush, SimilarWeb; 29 Aug 2021
Notes:
*FAB score = Fintech Attention Barometer, a proprietary measure calculated by Fintech Labs.
**Expensify is more known for expense management, but introduced a corporate charge card in Oct 2019.
***Rho, a challenger bank, is the newest entrant, launching a charge card in May 2021
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).
Top 10 Challenger SMB Charge Cards Currently Active in the United States
1. Brex
FAB Score = 469
– HQ: SF
– Founded: 2017
– Raised $1.2B ($575M in past 12 months) (Crunchbase)
– Website visits (July 2021): 1.0M (SimilarWeb)
– Employees: 797 (Pitchbook)
– Citations: 219 (Crunchbase)
– Twitter: 7,520 followers
– Trustpilot: 4.7 (424 reviews)
2. Ramp
FAB Score = 328
– HQ: NYC
– Founded: 2019
– Raised $610M ($595M in past 12 months) (Crunchbase)
– Website visits (July 2021): 196,000 (SimilarWeb)
– Employees: 150 (Pitchbook)
– Citations: 3 (Crunchbase)
– Twitter: 5,260 followers
– Capterra: 4.9 (45 reviews) (no reviews on TrustPilot)
3. Expensify
FAB Score = 185
– HQ: SF
– Founded: 2008
– Raised $38.2M ($0 in past 12 months) (Crunchbase)
– Website visits (July 2021): 1.5M (SimilarWeb)
– Employees: 135 (Pitchbook)
– Citations: 342 (Crunchbase)
– Twitter: 15,100 followers
– TrustRadius: 8.6 (257 reviews) (Note: TrustPilot scores not valid at this time).
4. Divvy (acquired by Bill.com 1 June 2021 for $2.5B)
FAB Score = 155
– HQ: Utah
– Founded: 2016
– Raised $418M ($165M in past 12 months) (Crunchbase)
– Website visits (July 2021): 245,000 (SimilarWeb)
– Employees: 443 (Pitchbook)
– Citations: 61 (Crunchbase)
– Twitter: 2,090 followers
– Trustpilot: 4.2 (145 reviews)
5. Rho
FAB Score = 62
– HQ: NYC
– Founded: 2018
– Raised $120M ($100M in 2021) (Crunchbase)
– Website visits (July 2021): 17,000 (SEMrush)
– Employees: 60 (Pitchbook)
– Articles (past 2 years): 20 (Crunchbase)
– Twitter: 712 followers
– Trustpilot: No reviews
6. Tribal Credit
FAB Score = 19
– HQ: SF
– Founded: 2016
– Raised $43.4M ($34.3M in past 12 months) (Crunchbase)
– Website visits (July 2021): 6,500 (SEMRush)
– Employees: 104 (Craft)
– Citations: 7 (Crunchbase)
– Twitter: 1,280 followers
– Trustpilot: No reviews
7. Karat
FAB SCORE = 18
HQ: SF
Founded: 2019
Raised: $30.6M ($26M in last 12 months)
Website visitors (July 2021): 10,600 (SEMrush)
Employees: 19 (Pitchbook)
8. Lola
FAB Score = 16
– HQ: Boston
– Founded: 2018
– Raised $81.7M ($0 in past 12 months) (Crunchbase)
– Website visits (May 2021): 27,000 (SimilarWeb)
– Employees: 66 (Pitchbook)
– Citations: 3 (Crunchbase)
– Twitter: 4,000 followers
– Trustpilot: 4.1 (215 reviews)
9. Bento for Business (acquired by US Bank, Aug 2021)
FAB Score = 14
– HQ: NYC
– Founded: 2007
– Raised $4.9M ($0 in past 12 months) (Crunchbase)
– Website visits (July 2021): 106,000 (SimilarWeb)
– Employees: 40 (Pitchbook)
– Citations: 41 (Crunchbase)
– Twitter: 1,090 followers
– Trustpilot: 3.1 (95 reviews)
10. TeamPay
FAB Score = 8
– HQ: NYC
– Founded: 2016
– Raised $21M ($5M in last 12 months)
– Website visitors (July 2021): 20,000 (SEMRush)
– Employees: 60 (Pitchbook)
– Articles: 3 (Crunchbase)
– Twitter: 500 followers
– G2 rating: 4.2 (45 reviews)
11. PEX Card
FAB Score = 4
– HQ: NYC
– Founded: 2007
– Raised $4.9M ($0 in past 12 months) (Crunchbase)
– Website visits (July 2021): 96,000 (SimilarWeb)
– Employees: 81 (Pitchbook)
– Articles: 2 (Crunchbase)
– Twitter: 3,500 followers
– Trustpilot: No reviews
15. FunnelDash
FAB Score = 0
– HQ: Austin
– Founded: 2016
– Raised $0.5 ($0 in last 12 months) (Crunchbase)
– Website visits (July 2021): 300 (SEMRush)
– Employees: 29 (Craft.co)
– Citations: 0 (Crunchbase)
– Twitter: 8,640 followers
– Rating: 4.6 (62 reviews per G2, no TrustPilot reviews)
