In the last eight years, the corporate charge card market 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 $300 now. Below is a list of the 19 challenger business credit cards currently active in the United States. Five have been acquired in the past few years including two by large legacy banks (Capital One bought Lola, US Bancorp acquired Bento for Business) and will stay on this list as long as they operate as independent brands (Lola is no longer a separate unit).
NEW: Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Check out our latest lists: SMB online lenders (33) | SMB challenger banks (12) | SMB insurers (15) | SMB charge cards/expense management (16) | Billpay & invoicing (16)| Payment processors (7) | Subscription processors (7) | SMB digital accounting/bookkeeping (21) | Equity crowdfunding (7)
Leading USA Digital Small Business Charge Cards ranked by FAB score (Fintech Attention Barometer**)
The FAB Score Ranking (Fintech Attention Barometer) is a proxy for the size of a private fintech company.
| Rank | Company | FAB Score** | Reviewed | Founded | HQ | Funding ($M) | Visits (Oct ’25) |
| Ad* | Relay | 222 | 17 Nov 25 | 2018 | Toronto | $52 | 1,000,000 |
| Ad* | Rippling Spend | 2,310 | 17 Nov 25 | 2016 | SF | $2,040 | 6,900,000 |
| 1 | Ramp | 2,080 | 17 Nov 25 | 2019 | NYC | $2,976 | 4,100,000 |
| Ad* | Rho | 76 | 17 Nov 25 | 2018 | NYC | $205 | 220,000 |
| Ad* | Jeeves | 164 | 17 Nov 25 | 2019 | NYC | $441 | 32,000 |
| 2 | Expensify | 370 | 17 Nov 25 | 2008 | SF | $401 | 1,600,000 |
| 3 | Jeeves | 166 | 17 Nov 25 | 2019 | NYC | $441 | 42,000 |
| 4(t) | Bill (FKA Divvy) | 165 | 17 Nov 25 | 2016 | Utah | $418 | 520,000 |
| 4(t) | Spendesk | 165 | 17 Nov 25 | 2016 | Paris | $312 | 400,000 |
| 6 | Airbase (Paylocity) | 136 | 17 Nov 25 | 2017 | SF | $252 | 200,000 |
| 7 | Tribal Credit | 133 | 17 Nov 25 | 2016 | SF | $293 | 1,800 |
| 8 | Coast | 102 | 17 Nov 25 | 2020 | NYC | $166 | 80,000 |
| 9 | Parker | 96 | 17 Nov 25 | 2019 | NYC | $177 | 18,000 |
| 10 | Bonsai | 81 | 17 Nov 25 | 2016 | SF | $0.1 | 400,000 |
| 11 | Rho | 76 | 17 Nov 25 | 2018 | NYC | $205 | 220,000 |
| 12 | Karat | 50 | 17 Nov 25 | 2019 | SF | $101 | 34,000 |
| 13 | Center | 41 | 17 Nov 25 | 2018 | Seattle | $102 | 38,000 |
| 14t | PEX Card | 30 | 17 Nov 25 | 2007 | NYC | $9.9 | 170,000 |
| 14t | Teampay | 30 | 17 Nov 25 | 2016 | NYC | $65 | 15,000 |
| 16 | Revenued | 16 | 17 Nov 25 | 2015 |
New Jersey
|
79,000 | |
| 17 | Dash.fi (was FunnelDash) | 9 | 17 Nov 25 | 2016 | Austin | $3.7 | 39,000 |
| 18 | Profit (was Swipedom) | 5 | 17 Nov 25 | 2019 | NYC | $1.5 | 1,700 |
Source: FintechLabs, 17 Nov 2025, from Crunchbase, Similarweb, SEMrush data
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 = 2,080 (up 370 since Sep)
HQ: NYC
Founded: 2019
Traction:
– Valuation: $32 billion based on a November 2025 round (FintechLabs) <<<< Highest
– Annual revenue run rates: $700M (Jan 2025), $300M (Aug 2023), $100M (March 2022) (Source: TechCrunch)
– Raised $3.0B including $300M in Nov 2025, $500M in July 2025, $200M in June 2025, $150M in March 2025, $156M in April 2024, $300M in August 2023, $750M in 2022 (Crunchbase) <<< Highest
– Website visits (Oct 2025): 4.1M (SimilarWeb); 2.9M (SEMrush) <<<< Highest
– Employees (Pitchbook) 2,810; was 2,170 in April; 1,000 in Feb, 850 in Jan, 850 Nov ’24, 991 Sep ’24, 699 Jan ’24, 930 Oct ’23, 658 July ’23) <<<< Highest
Social:
– LinkedIn: 246,000 followers (3,140 employees, was 2,200 in April, 1,630 employees in Feb, 1,360 in Jan; 1,300 Nov ’24; 1,040 Sep ’24, 1,270 July ’24; 770 Jan ’24; 720 July ’23)
– G2: 4.8 (2,200 reviews; was 2,065 in April; 2,050 in Jan)
2. Expensify
FAB Score = 370 (down 20)
HQ: SF
Founded: 2008
Traction:
– Raised $401M (prior to 2022) (Crunchbase)
– Annual Revenue: $144M (TTM) – Market cap: $180M (NASDAQ:EXFY, 3 Sep 2025)
– Website visits (Oct 2025): 1.6M (SimilarWeb)
– Employees: (Pitchbook): 194; was 133 April ’25 to Nov ’24; 138 Jan ’24; 138 Oct ’23; 194 Feb ’23)
Social:
– LinkedIn: 21,000 followers (211 employees unchanged from April, was 214 in Feb; 220 Jan; 225 Nov ’24; 228 Sep ’24; 234 July ’24; 246 Jan ’24; 248 Oct ’23; 241 July ’23)
– TrustRadius: 9.0 (561 reviews, was 411 in April, 407 in Feb)
3. Jeeves
FAB Score = 166 (up 1)
– HQ: NYC
– Founded: 2018
Traction:
– Raised $443M including $75M in May 2024 (debt) and $180M in 2022 (Crunchbase)
– Valuation: $2.1B based on March 2022 round (FintechLabs)
– Website visits (Oct 2025): 42,000 (SimilarWeb), 14,000 (SEMrush)
– Employees (Pitchbook): 150, was 182 in April ’25, , 237 Jan ’24 through May ’23
Social:
– Articles: 31 (Crunchbase)
– LinkedIn 36,000 followers (279 employees vs. 255 in April, 247 in Feb; 251 Jan; 253 Nov ’24; 261 Sep ’24; 256 July ’24; 263 Jan ’24, 259 Oct ’23; 239 July ’23)
– Trustpilot: 3.7 (104 reviews vs 103 April ’25 through Nov ’24)
4 (tie). Bill (fka Divvy)
FAB Score = 165 (down 8)
HQ: Utah
Founded: 2016
Traction (Divvy):
– Valuation: $2.5B (June 2021 exit)
– Raised $418M (before 2022) (Crunchbase)
– Website visits (Oct 2025):
* Divvy.co >>520,000 (SimilarWeb)
* Bill.com >> 4.1 million (SimilarWeb)
– Employees: 443 (Pitchbook), unchanged since May
Social:
– LinkedIn 35,000 followers (173 employees vs. 196 in April, 199 in Feb; 202 in Jan; 210 Nov ’24; 215 Sep ’24; 259 July ’24; 313 Jan ’24; 350 Oct ’23; 450 July ’23)
– Trustpilot: 4.3 (799 reviews, unchanged since Feb)
4 (tie). Spendesk
FAB score = 165 (up 16)
– HQ: Paris
– Founded: 2016
Traction:
– Raised: $312M including $110M in 2022 (Crunchbase)
– Valuation: $1.1B based on Jan 2022 round (FintechLabs)
– Website traffic (July 2025): 400,000 (SimilarWeb), 370,000 (SEMrush)
– Employees (Pitchbook): 300; was 1,000 April ’25 through Nov ’24; 600 in July ’24 through Jan ’24; 625 in Oct ’23, 585 in July ’23)
Social:
– LinkedIn 52,000 followers (309 employees vs. 371 in April; 390 in Feb; 422 in Jan; 467 in Nov ’24; 494 in Sep ’24; 516 in July ’24; 590 in Jan ’24, 629 in July ’23)
6. Airbase (acquired by Paylocity 4 Sep 2024 for $325M)
FAB Score = 138 (up 28)
– HQ: SF
– Founded: 2017
Traction:
– Raised $252M (including $161M in 2022) (Crunchbase)
– Website visits (Oct 2025): 200,000 (SimilarWeb), 27,000 (SEMrush)
– Employees (Pitchbook): 550 vs. 353 in April; (464 in Jan; 456 in May ’24; 402 in Jan ’24; 403 in Oct ’23; 384 in July ’23)
– LinkedIn 53,000 followers (314 employees vs. 343 in April; 350 in Feb; 363 in Jan; 375 in Nov ’24)
7. Tribal (acquired by Klar)
FAB Score = 133 (unchanged)
– HQ: SF
– Founded: 2016
Traction:
– Raised $293M ($100M in 2022 and $150M debt in Oct 2023) (Crunchbase)
– Website visits (Oct 2025): 1,800 (SimilarWeb), 2,000 (SEMrush)
– Employees: 400 (Pitchbook, unchanged since May 23)
Social:
– LinkedIn 26,000 followers (170 employees; vs 170 in April; 167 in Feb; 169 in Jan; 172 in Sep ’24; 174 in July ’24; 258 in Jan ’24; 321 in Oct ’23; 313 in July ’23)
– Trustpilot: No reviews
8. Coast
FAB Score = 102 (up 2)
– HQ: NYC
– Founded: 2020
Traction:
– Raised: $166M including $40M in July 2024, $93M in March 2024, $28M in Feb 2022 (Crunchbase)
– Website traffic (Oct 2025): 80,000 (SimilarWeb), 43,000 (SEMrush)
– Employees (Pitchbook): 139 vs. 126 in April; 118 in Feb; 118 in Jan; 107 in Nov ’24; 103 in July ’24; 99 in May ’24)
– LinkedIn followers: 7,000 (164 employees vs. 128 in April; 129 in Feb; 122 in Jan; 116 in Nov ’24; 109 in Sep ’24; 98 in May ’24)
– Trustpilot: 1.4 (90 reviews vs. 60 in April ’25 through Feb ’25)
9. Parker
FAB Score = 96 (unchanged)
Founded: 2019
HQ: NYC
Traction:
Raised: $177M including $20M in 2024, $157M in 2023 (Crunchbase)
Employees (Pitchbook): 117 vs. 37 in April ’25 through Oct ’23; 28 in July ’23)
Website visits (Oct 2025): 18,000 (SimilarWeb), 17,000 (SEMrush)
LinkedIn: 11,000 followers (123 employees vs. 122 in April ’25; 118 in Feb ’25, 123 in Jan; 79 in Sep ’24; 77 in May ’24; 65 in Jan ’24; 57 Oct ’23; 36 in July ’23)
10. Bonsai
FAB Score = 81 (down 10)
– HQ: San Francisco
– Founded: 2016
Traction:
– Raised: $120,000+ (Crunchbase)
– Website traffic (Oct 2025): 400,000 (SimilarWeb), 370,000 (SEMrush)
– Employees: 56 (Linkedin)
– Articles: 9 (Crunchbase)
– LinkedIn followers: 17,000 (61 employees vs. 52 in April; 53 in Feb; 56 in Nov ’24; 55 in Sep; 51 in July ’24; 49 in Jan ’24; 49 in Oct ’23; 32 21 in July ’23)
– Trustpilot: 4.1 (597 reviews vs. 459 in April. 457 Feb)
11. Rho
FAB Score = 76 (up 2)
HQ: NYC
Founded: 2018
Traction:
– Raised $205M ($200M since Jan 2021) (Crunchbase)
– Website visits (Oct 2025): 220,000 (SimilarWeb), 150,000 (SEMrush)
– Employees: INA (Pitchbook) vs 198 in April ’25 to Jan ’24; was 200 in Dec ’23
Social:
– Articles: 18 (Crunchbase)
– LinkedIn: 21,000 followers (318 employees vs. 244 in April ’25; 205 in Jan ’25; 205 Sep ’24; 212 Dec ’23)
– Trustpilot: No reviews
12. Karat
FAB Score = 50 (unchanged)
HQ: LA
Founded: 2019
Traction:
– Raised: $101M (including $70M in July 2023) (Crunchbase)
– Website visits (Oct 2025): 34,000 (SimilarWeb), 21,000 (SEMrush)
– Employees: 56 (Pitchbook, unchanged since Oct ’24; 51 in April ’24)
– Articles: 16 (Crunchbase)
– LinkedIn: 10,000 followers (38 employees; vs 42 in April; 39 in Jan; 35 in Nov ’24; 32 in Sep ’24; 34 in July ’24; 41 in Jan ’24; 54 in Oct ’23)
– Trustpilot: No reviews
13. Center, acquired by American Express (6 Mar 2025)
FAB Score = 41 (unchanged)
HQ: Bellevue, WA
Founded: 2016
Traction:
– Raised $102M including $30M in 2023 and $15M in 2o22 (Crunchbase)
– Website visits (Oct 2025): 38,000 (SimilarWeb), 12,000 (SEMrush)
– Employees: 193 (Linkedin)
– Articles: 15 (Crunchbase)
– LinkedIn 6,000 followers (91 employees vs. 181 in April ’25; 195 in Jan ’25; 195 Nov ’24; 199 Sep ’24; 204 July ’24; 193 Jan ’24; 193 Oct ’23; 170 July ’23)
14 (tie). PEX Card
FAB Score = 30 (unchanged)
HQ: NYC
Founded: 2007
Traction:
– Raised $9.9M (including $5M in 2024) (Crunchbase)
– Website visits (Oct 2025): 170,000 (SimilarWeb), 140,000 (SEMrush)
– Employees (Pitchbook) : 78 vs. 84 in April ’25; 82 in Jan ’25; 83 Nov ’24 & July ’24; 91 Jan ’24; 89 Oct ’23; 85 July ’23)
– LinkedIn 13,000 followers (84 employees vs 85 in Feb; 83 Jan; 81 Nov ’24; 84 Sep ’24; 82 July ’24; 89 Jan ’24 & July ’23)
– Trustpilot: No reviews
14(tie). TeamPay, acquired by Paystand (April 2024)
FAB Score = 30 (unchanged)
HQ: NYC
Founded: 2016
Traction:
– Raised $65M, including $47M in 2022 (Crunchbase)
– Website visitors (Oct 2025): 15,000 (SimilarWeb), 7,700 (SEMrush)
– Employees: 63 (Pitchbook), unchanged since Oct ’23, down 24 since July ’23
– Articles: 15 (Crunchbase)
– LinkedIn 5,000 followers (24 employees vs. 33 in April ’25, 35 in Jan ’25; 37 in Nov ’24; 38 in Sep ’24; 43 in July ’24; 46 in Jan ’24; 51 in Oct ’23; 63 in July ’23)
– G2 rating: 4.4 (438 reviews vs. 329 in April, 320 in Feb)
16. Revenued
Fab Score = 16 (up 1)
HQ: New Jersey
Founded: 2015
Traction:
– Raised: Unkown (Crunchbase)
– Website visits (Oct 2025): 79,000 (Similarweb), 66,000 (SEMrush)
– Employees: 28 (Linkedin)
– LinkedIn: 3,000 followers (32 employees vs. 30 in April ’25; 28 in Feb; 27 in Jan; 25 in Nov ’24; 27 in Sep ’24; 29 in July ’24)
– TrustPilot: 4.6 (1,040 reviews vs. 933 in April; 895 in Feb)
17. Dash.fi (was FunnelDash)
FAB Score = 9 (up 1)
HQ: Austin
Founded: 2016
Traction:
– Raised $3.7 prior to 2022 (Crunchbase)
– Website visits (Oct 2025): 39,000 (SimilarWeb), 2,600 (SEMrush)
– Employees: 59 (LinkedIn)
– LinkedIn 2,000 followers (64 employees vs. 59 in April; 36 in Jan; 34 in Nov ’24; 31 Sep ’24; 22 July ’24 & Jan ’24; 17 Oct ’23; 13 in July ’23)
– G2: 4.6 (64 reviews, unchanged since Oct ’23)
18. Profit (was Swipedom), acquired by Paymentus
FAB Score = 5 (unchanged)
HQ: NYC
Founded: 2019
Traction:
– Raised $1.5M (including $1M in 2021) (Crunchbase)
– Website visits (Oct 2025): 1,700 (SimilarWeb)
– Employees: 9 (Pitchbook, unchanged since July ’24)
— Linkedin: NA
– Trustpilot: No reviews
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 $1.7B (Crunchbase)
– Website visits: 900,000 (SimilarWeb, Oct 2025)
– Employees: 1,200 (Pitchbook)
— LinkedIn: 290,000 followers (1,670 employees)
– Trustpilot: 2.2 (565 reviews)
Comcard (waitlist only, since Oct 2023)
– HQ: LA
– Founded: 2019
– Raised $200k (prior to 2021) (Crunchbase)
– Website visits: INA
– Employees: 3 (Linkedin, Dec 2023)
– LinkedIn: 100 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)
– LinkedIn: 7,000 followers (29)
– Trustpilot: 2.5 (216 reviews)
Mercantile (does not appear to be taking new direct customers, Oct 2023)
– HQ: NYC
– Founded: 2021
– Raised $22M in 2022 (Crunchbase)
– Website visits: 2,100 (SimilarWeb, Oct 2025)
– Employees: 44 (Pitchbook)
– Linkedin: 570 followers (37 employees)
– No Trustpilot profile
Bento for Business, acquired by US Bank (Aug 2021, discontinued as a separate line of business, June 2025)
HQ: NYC
Founded: 2007
Traction:
– Raised $24.5M (Crunchbase)
– Website visits: NA (SimilarWeb; July 2025)
– Employees: 43 (Pitchbook, unchanged since April ’23)
— LinkedIn No longer listed (Feb ’25). In Jan ’24, it had 2,000 followers (23 employees vs. 26 in Sep ’24; 29 July ’24; 38 Jan ’24; 47 Oct ’23; 43 in July ’23)
– Trustpilot: 2.0 (102 reviews, unchanged since July ’23)
