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-$200 million value now.
Below is a list of the 17 challenger business credit cards currently active in the United States. Five have been acquired in the past few years including two by large legacy banks (Capital One bought Lola, US Bancorp acquired Bento for Business) and will stay on this list as long as they operate as independent brands (Lola is no longer a separate unit).
NEW: Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Check out our latest lists: SMB online lenders (33) | SMB challenger banks (12) | SMB insurers (15) | SMB charge cards/expense management (16) | Billpay & invoicing (16)| Payment processors (7) | Subscription processors (7) | SMB digital accounting/bookkeeping (21) | Equity crowdfunding (7)
Leading USA Digital Small Business Charge Cards ranked by FAB score (Fintech Attention Barometer**)
The FAB Score Ranking (Fintech Attention Barometer) is a proxy for the size of a private fintech company.
| Rank | Was | Company | FAB Score** | Reviewed | Founded | HQ | Funding ($M) | Visits (Dec ’24) |
| Ad* | Relay | 186 | 9 Jan 25 | 2018 | Toronto | $52 | 820,000 | |
| 1 | 1 | Ramp | 1083 | 9 Jan 25 | 2019 | NYC | $1,826 | 2,000,000 |
| Ad* | U.S. Bank | NA | 9 Jan 25 | 1863 | Minneapolis | NA | 27,000,000 | |
| Ad* | Rho | 46 | 9 Jan 25 | 2018 | NYC | $205 | 70,000 | |
| Ad* | Jeeves | 164 | 9 Jan 25 | 2019 | NYC | $441 | 32,000 | |
| 2 | 2 | Expensify | 370 | 9 Jan 25 | 2008 | SF | $401 | 1,600,000 |
| 3 | 3 | Bill (FKA Divvy) | 177 | 9 Jan 25 | 2016 | Utah | $418 | 580,000 |
| 4 | 4 | Jeeves | 164 | 9 Jan 25 | 2019 | NYC | $441 | 32,000 |
| 5 | 5 | Spendesk | 151 | 9 Jan 25 | 2016 | Paris | $312 | 330,000 |
| 6 | 6 | Tribal Credit | 133 | 9 Jan 25 | 2016 | SF | $293 | 2,200 |
| 7 | 7 | Airbase (Paylocity) | 111 | 9 Jan 25 | 2017 | SF | $252 | 75,000 |
| 8 | 8 | Coast | 108 | 9 Jan 25 | 2020 | NYC | $166 | 110,000 |
| 9 | 10 | Parker | 97 | 9 Jan 25 | 2019 | NYC | $177 | 22,000 |
| 10 | 9 | Bonsai | 81 | 9 Jan 25 | 2016 | SF | $0.1 | 400,000 |
| 11 | 11 | Karat | 47 | 9 Jan 25 | 2019 | SF | $101 | 18,000 |
| 12 | 12 | Rho | 46 | 9 Jan 25 | 2018 | NYC | $205 | 70,000 |
| 13 | 13 | Center | 36 | 9 Jan 25 | 2018 | Seattle | $102 | 10,000 |
| 14 | 14 | Teampay | 28 | 9 Jan 25 | 2016 | NYC | $65 | 6,200 |
| 15 | 15 | PEX Card | 15 | 9 Jan 25 | 2007 | NYC | $9.9 | 93,000 |
| 16 | 16 | Revenued | 12 | 9 Jan 25 | 2015 |
New Jersey
|
60,000 | |
| 17 | 18 | Dash.fi (was FunnelDash) | 6 | 9 Jan 25 | 2016 | Austin | $3.7 | 23,000 |
| 18 | 19 | Bento for Business (US Bank) | 5 | 9 Jan 25 | 2014 | SF | $25 | 12,000 |
Was = rank on 15 Nov 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).
Profiles: Challenger SMB Charge Card Issuers
1. Ramp
FAB Score = 1,080 (down 20 since Nov)
– 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: 2.0M (SimilarWeb, Dec 2024) <<<< Highest
– Employees: 850 (Pitchbook, unchanged since Nov, down 141 since Sep, up 151 since Jan, down 80 from Oct ’23, up 192 since July ’23) <<<< Highest
– Articles: 118 (Crunchbase)
– LinkedIn: 160,000 followers (1,360 employees, up 60 since Nov, up 320 since Sep, up 90 since July, up 590 since Jan ’24, up 640 since July ’23)
– G2: 4.8 (2,050 reviews, up 10 since Nov)
2. Expensify
FAB Score = 370 (down 40)
– HQ: SF
– Founded: 2008
– Raised $401M (prior to 2022) (Crunchbase)
– Annual Revenue: $137M (TTM)
– Market cap: $285M (NASDAQ:EXFY, 14 Jan 2025)
– Website visits: 1.6M (SimilarWeb, Dec 2024)
– Employees: 133 (Pitchbook, unchanged since Nov, down 5 since Jan, down 5 since Oct ’23, down 61 since Feb ’23)
– Articles: 456 (Crunchbase) <<<< Highest
– LinkedIn: 18,000 followers (220 employees, down 5 since Nov, down 8 since Sep, down 14 since July, down 26 since Jan, down 28 since Oct ’23, down 21 since July ’23)
– TrustRadius: 7.5 (406 reviews, up 12 since Nov)
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 >>580,000 (SimilarWeb, Dec 2024)
Bill.com >> 3.9 million (SimilarWeb, Dec 2024)
– Employees: 443 (Pitchbook), unchanged since May
– Articles: 86 (Crunchbase)
– LinkedIn 35,000 followers (202 employees, down 8 since Nov, down 13 since Sep, down 54 since July, down 111 since Jan ’24, down 148 since Oct ’23, down 248 since July ’23)
– Trustpilot: 4.3 (796 reviews, up 1 since Nov)
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: 32,000 (SimilarWeb; Dec 2024)
– Employees: 182 (Pitchbook), down 55 since Jan ’24, down 55 since May ’23
– Articles: 31 (Crunchbase)
– LinkedIn 32,000 followers (251 employees, down 2 since Nov, down 8 since Sep, down 3 since July, down 12 since Jan ’24, down 8 since Oct ’23, up 12 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: 330,000 (SimilarWeb; Dec 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 43,000 followers (422 employees, down 45 since Nov, down 72 since Sep, down 94 since July, down 168 since Jan ’24, down 207 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: 2,200 (SimilarWeb, Dec 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: 75,000 (Dec 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 (363 employees, down 12 since Nov.)
– 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: 110,000 (Dec 2024, SimilarWeb)
– Employees: 118 (Pitchbook, up 11 since Nov, up 15 since July, up 19 since May)
– LinkedIn followers: 5,000 (122 employees, up 6 since Nov, up 13 since Sep, up 24 since May)
– Trustpilot: 3.1 (58 reviews, up 1 since Nov)
9. Parker
FAB Score = 85 (unchanged)
Founded: 2019
HQ: NYC
Raised: $177M including $20M in 2024, $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: 22,000 (Dec 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)
10. Bonsai
FAB Score = 97 (down 2)
– HQ: San Francisco
– Founded: 2016
– Raised: $120,000+ (Crunchbase)
– Website traffic: 400,000 (Dec 2024, SimilarWeb)
– Employees: 56 (Linkedin)
– Articles: 9 (Crunchbase)
– LinkedIn followers: 5,000 (53 employees, down 3 since Nov, down 2 since Sep, up 2 since July, up 4 since Jan ’24, up 4 since Oct ’23, up 21 since July ’23)
– Trustpilot: 4.1 (457 reviews, up 7 since Nov)
11. Karat
FAB Score = 55 (up 6)
– HQ: LA
– Founded: 2019
– Raised: $101M (including $70M in July 2023) (Crunchbase)
– Website visits: 18,000 (Dec 2024, SimilarWeb)
– Employees: 56 (Pitchbook, unchanged since Oct, up 5 since April)
– Articles: 16 (Crunchbase)
– Linkedin: 9,000 followers (39 employees, up 4 since Nov, up 7 since Sep, up 5 since July, down 2 since Jan ’24, down 15 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: 70,000 (SimilarWeb, Dec 2024)
– Employees: 198 (Pitchbook), down 2 from Dec 2023
Social:
– Articles: 18 (Crunchbase)
– Linkedin: 12,000 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: 10,000 (Dec 2024, SimilarWeb)
– Employees: 193 (Linkedin)
– Articles: 15 (Crunchbase)
– LinkedIn 5,000 followers (195 employees, down 2 since Nov, down 4 since Sep, down 9 since July, up 2 since Jan ’24, up 2 since Oct ’23, up 25 since July ’23)
– G2: 4.6 (442 unchanged since Nov)
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: 6,200 SimilarWeb; Dec 2024)
– Employees: 63 (Pitchbook), unchanged since Oct ’23, down 24 since July ’23
– Articles: 15 (Crunchbase)
– LinkedIn 4,000 followers (35 employees, down 2 since Nov, down 3 since Sep, down 8 since July, down 11 since Jan ’24, down 16 since Oct ’23, down 28 since July ’23)
– G2 rating: 4.4 (320 reviews, up 114 since Nov)
15 . PEX Card
FAB Score = 20 (up 12)
– HQ: NYC
– Founded: 2007
– Raised $9.9M (including $5M in 2024) (Crunchbase)
– Website visits: 93,000 (SimilarWeb; Dec 2024)
– Employees: 82 (Pitchbook, down 1 since Nov, unchanged since July, down 9 since Jan ’24, down 7 since Oct ’23, down 3 since July ’23)
– Articles: 2 (Crunchbase)
– LinkedIn 12,000 followers (83 employees, up 2 since Nov, down 1 since Sep, up 1 since July, down 6 since Jan ’24, down 6 since July ’23)
– Trustpilot: No reviews
16. Revenued
Fab Score = 10 (up 2)
– HQ: New Jersey
– Founded: 2015
– Raised: Unkown (Crunchbase)
– Website visits: 60,000 (Dec 2024, Similarweb)
– Employees:
– Articles: 8 (Crunchbase)
– LinkedIn: 2,400 followers (27 employees, up 2 since Nov, unchanged since Sep, down 2 since July)
– TrustPilot: 4.7 (869 reviews, up 39 since Nov)
17. Dash.fi (was FunnelDash)
FAB Score = 6 (down 1)
– HQ: Austin
– Founded: 2016
– Raised $3.7 prior to 2022 (Crunchbase)
– Website visits: 23,000 (SimilarWeb Dec 2024)
– Employees: 17 (LinkedIn, up 4 since July)
– Articles: 0 (Crunchbase)
– LinkedIn 990 followers (36 employees, up 2 since Nov, up 5 since Sep, up 14 since July, up 14 since Jan ’24, up 19 since Oct ’23, up 23 since July ’23)
– G2: 4.6 (64 reviews, unchanged since Oct ’23)
18. Bento for Business, acquired by US Bank (Aug 2021)
FAB Score = 5 (up 1)
– HQ: NYC
– Founded: 2007
– Raised $24.5M (Crunchbase)
– Website visits: 3,600 (SimilarWeb; Dec 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
Profit (was Swipedom), acquired by Paymentus (no longer online 9 Jan 2025)
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
