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.

Challenger of the Month*

Meet BILL. Your financial operations platform.

The intelligent way to create and pay bills, send invoices, manage expenses, control budgets, and access the credit your business needs to grow—all on one platform.

Get Started

Founded: 2016 | HQ: Utah | Funding: $418M

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)

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

Leading USA Digital Small Business Charge Cards
ranked by FAB score (Fintech Attention Barometer**)

Rank Was Company FAB Score** Reviewed Founded HQ Funding ($M) Visits (May ’24)
1 1 Ramp 963 19 Jun ’24 2019 NYC $1,830 1,000,000
2 2 Expensify 310 19 Jun ’24 2008 SF $401 1,300,000
3 3 Spendesk 149 19 Jun ’24 2016 Paris $312 320,000
4t 4 Bill (fka Divvy) 167 19 Jun ’24 2016 Utah $418 530,000
4t 6 Jeeves 167 19 Jun ’24 2019 NYC $441 44,000
6 5 Tribal Credit 133 19 Jun ’24 2016 SF $293 3,000
7 7 Airbase 113 19 Jun ’24 2017 SF $252 88,000
8 8 Parker 88 19 Jun ’24 2019 NYC $157 26,000
9 9 Bonsai 85 19 Jun ’24 2016 SF $0.1 420,000
10 NEW Coast 71 19 Jun ’24 2020 NYC $126 27000
11 10 Karat 50 19 Jun ’24 2019 SF $101 35,000
12 11 Center 36 19 Jun ’24 2018 Seattle $102 10,000
13 12 Teampay 30 19 Jun ’24 2016 NYC $65 13,000
14 14 PEX Card 16 19 Jun ’24 2007 NYC $9.9 100,000
15 13 Bento for Business
(US Bank)		 9 19 Jun ’24 2014 SF $25 30,000
16 15 Profit (was Swipedom) 7 19 Jun ’24 2019 NYC $1.5 12,000
17 16 Dash.fi (was FunnelDash) 3 19 Jun ’24 2016 Austin $3.7 5,300

Source: Compiled by FintechLabs, 19 June 2024, from Crunchbase, SEMrush, SimilarWeb

“Was” = rank on 24 Jan 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 = 963 (up 154 since Jan)
– HQ: NYC
– Founded: 2019
– Valuation: $5.5B based on Aug 2023 round (FintechLabs) <<<< Highest
–  Raised $1.8B including $156M in April 2024, $300M in August 2023, $750M in 2022 (Crunchbase) <<< Highest
– Website visits: 1.4M (SimilarWeb, May 2024) <<<< Highest
– Employees: 991 (Pitchbook, up 292 since Jan, up 61 from Oct ’23, up 333 since July ’23) <<<< Highest
– Articles: 91 (Crunchbase)
– Linkedin: 129,000 followers (1160 employees, up 387 since Jan, up 427 since July ’23, up 65 employees Oct ’23)
– G2: 4.8 (1,970 reviews, up 100 since Jan)

2. Expensify
FAB Score = 310 (down 20 since Jan)
– HQ: SF
– Founded: 2008
– Raised $401M (prior to 2022) (Crunchbase)
– Annual Revenue: $170M (2022)
– Market cap: $110M (NASDAQ:EXFY, 18 June 2024)
– Website visits: 1.3M (SimilarWeb, May 2024)
– Employees: 133 (Pitchbook, down 5 since Jan, down 5 since Oct ’23, down 61 since Feb ’23)
– Articles: 428 (Crunchbase) <<<< Highest
– Linkedin: 16,000 followers (234 employees, down 12 since Jan, down 14 since Oct ’23, down 7 since July ’23)
– TrustRadius: 7.4 (390 reviews, up 15 since Jan)

3. Spendesk
FAB score = 149 (down 20 since Jan) 
– HQ: Paris
– Founded: 2016
– Raised: $312M including $110M in 2022 (Crunchbase)
– Valuation: $1.1B based on Jan 2022 round (FintechLabs)
– Website traffic: 320,000 (SimilarWeb; May 2024)
– Employees: 600 (Pitchbook, unchanged since Jan, down 25 since Oct, up 15 since July)
– Article citations: 50 (Crunchbase)
– LinkedIn: 41,000 followers (543 down 47 since Jan, down 82 since Oct ’23, down 86 since July ’23)

4 (tie). Bill (fka Divvy)
FAB Score = 167 (up 14 since Jan)
– HQ: Utah
– Founded: 2016
– Valuation: $2.5B (June 2021 exit)
– Raised $418M (prior to 2022) (Crunchbase)
– Website visits:
Divvy.co >> 530,000 (SimilarWeb, May 2024)
Bill.com >> 3.9 million (SimilarWeb, May 2024)
– Employees: 443 (Pitchbook), unchanged since May
– Articles: 85 (Crunchbase)
– LinkedIn: 35,000 followers (261, down 51 since Jan, down 88 since Oct ’23, down 189 since July ’23)
– Trustpilot: 4.3 (796 reviews, up 344 since Jan)

4 (tie). Jeeves
FAB Score = 167 (up 33 since Jan)
– 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: 44,000 (SimilarWeb; May 2024)
– Employees: 182 (Pitchbook), down 55 since Jan, down 55 since May ’23
– Articles: 27 (Crunchbase)
– LinkedIn: 28,000 followers (262 employees, down 1 since Jan, up 3 since Oct ’23, up 23 since July ’23)
– Trustpilot: 3.6 (89 reviews, up 16 since Jan)

6. Tribal
FAB Score = 133 (down 4 since Jan)
– HQ: SF
– Founded: 2016
– Raised $293M ($100M in 2022 and $150M debt in Oct 2023) (Crunchbase)
– Website visits: 3,000 (SimilarWeb, May 2024)
– Employees: 400 (Pitchbook, unchanged since May ’23)
– Articles: 19 (Crunchbase)
– LinkedIn: 26,000 followers (188 employees, down 70 since Jan, down 133 since Oct ’23, down 115 since July ’23)
– Trustpilot: No reviews

7. Airbase 
FAB Score = 113 (up 2 since Jan)
– HQ: SF
– Founded: 2017
– Raised $252M (including $161M in 2022) (Crunchbase)
– Website visits: 88,000 (SimilarWeb, May 2024)
– Employees: 456 (Pitchbook, up 54 since Jan, up 53 since Oct ’23, up 183 since July ’23)
– Articles: 208 (Crunchbase)
– LinkedIn: 47,000 followers (459 employees, up 47 since Jan, up 62 since Oct ’23, up 137 since July ’23)
– G2: 4.8 (1,570 reviews, up 200 since Jan)  

8. Parker
FAB Score = 88 (unchanged)
Founded: 2019
HQ: NYC
Raised: $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: 33,000 (May 2024, SimilarWeb)
LinkedIn: 3,400 followers (77 employees, up 12 since Jan, up 20 since Oct ’23, up 41 since July ’23)

9. Bonsai
FAB Score = 85 (unchanged)
– HQ: San Francisco
– Founded: 2016
– Raised: $120,000+ (Crunchbase)
– Website traffic: 420,000 (SimilarWeb, May 2024)
– Employees: 49 (Linkedin, up 17 since July)
– Articles: 8 (Crunchbase)
– LinkedIn followers: 3,000 (50 employees, up 1 since Jan, up 1 since Oct ’23, up 18 since July ’23)
– Trustpilot: 4.3 (439 reviews, up 24 since Jan) <<< Highest Trustpilot score (tied)

10. Coast (NEW)
FAB Score = 71 (new)
– HQ: NYC
– Founded: 2020
– Raised: $126M (Crunchbase)
– Website traffic: 27,000 (SimilarWeb, May 2024)
– Employees: 99 (Pitchbook)
– LinkedIn followers: 3,000 (98 employees)
– Trustpilot: 3.7 (53 reviews)

 

11. Karat
FAB Score = 50 (down 2 since Jan) 
– HQ: LA
– Founded: 2019
– Raised: $101M (including $70M in July 2023) (Crunchbase)
– Website visits: 35,000 (SimilarWeb; May 2024)
– Employees: 56 (Pitchbook, unchanged since Oct, up 5 since April)
– Articles: 4 (Crunchbase)
– Linkedin: 9,000 followers (35 employees, down 6 since Jan, down 19 since Oct ’23)
– Trustpilot: No reviews

12. Center
FAB Score = 36 (up 1)
– HQ: Bellevue, WA
– Founded: 2016
– Raised $102M including $30M in 2023 and $15M in 2o22 (Crunchbase)
– Website visits: 10,000 (SimilarWeb, May 2024)
– Employees: 193 (Linkedin)
– Articles: 2 (Crunchbase)
– LinkedIn: 4,000 followers (199 193 employees, up 6 since Jan, up 6 since Oct ’23, up 29 since July ’23)
– G2: 4.6 (386 reviews, up 49 since Jan)

13. TeamPay, acquired by Paystand (April 2024)
FAB Score = 30 (up 1)
– HQ: NYC
– Founded: 2016
– Raised $65M, including $47M in 2022 (Crunchbase)
– Website visitors: 13,000 (SimilarWeb; May 2024)
– Employees: 63 (Pitchbook), unchanged since Oct ’23, down 24 since July ’23
– Articles: 13 (Crunchbase)
– LinkedIn: 4,000 followers (39 employees, down 7 since Jan, down 12 since Oct ’23, down 24 since July ’23)
– G2 rating: 4.4 (190 reviews, unchanged since Jan)

14. PEX Card
FAB Score = 16 (unchanged)
– HQ: NYC
– Founded: 2007
– Raised $9.9M (including $5M in 2024) (Crunchbase)
– Website visits: 100,000 (SimilarWeb; May 2024)
– Employees: 82 (Pitchbook, down 9 since Jan, down 8 since Oct ’23, down 4 since July ’23)
– Articles: 2 (Crunchbase)
– Linkedin: 11,000 followers (83 employees, down 6 since Jan, down 6 since July ’23)
– Trustpilot: No reviews

15. Bento for Business, acquired by US Bank (Aug 2021)
 FAB Score = 9 (down 11)
– HQ: NYC
– Founded: 2007
– Raised $24.5M (Crunchbase)
– Website visits: 30,000 (SimilarWeb; May 2024)
– Employees: 43 (Pitchbook, unchanged since April ’23)
– Articles: 42 (Crunchbase)
– LinkedIn: 2,000 followers (39 employees, up 1 since Jan, down 8 since Oct ’23, down 4 since July ’23)
– Trustpilot: 2.0 (102 reviews, unchanged since July ’23)

16. Profit (was Swipedom), acquired by Paymentus
FAB Score = 7 (down 1)
– HQ: NYC
– Founded: 2019
– Raised $1.5M (including $1M in 2021) (Crunchbase)
– Website visits: 12,000 (SimilarWeb; May 2024)
– Employees: 9 (Pitchbook, unchanged since July)
– Articles: 4 (Crunchbase)
– Linkedin: NA
– Trustpilot: No reviews

17. Dash.fi (was FunnelDash)
FAB Score = 3 (unchanged)
– HQ: Austin
– Founded: 2016
– Raised $3.7 (Crunchbase)
– Website visits: 5,300 (SimilarWeb May 2024)
– Employees: 17 (LinkedIn, up 4 since July)
– Articles: 0 (Crunchbase)
– LinkedIn 630 followers (20 employees, down 2 since Jan, up 3 since Oct ’23, up 7 since July ’23)
– G2: 4.6 (64 reviews, unchanged since Oct ’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

Rho
– HQ: NYC
– Founded: 2018
– Raised $205M ($200M since Jan 2021) (Crunchbase)
– Website visits: 55,000 (SimilarWeb, Dec 2023)
– Employees: 200 (Pitchbook)
– Articles: 17 (Crunchbase)
– Linkedin: 7,000 followers (212 employees)
– Trustpilot: No reviews