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.

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Below is a list of the 16 challenger business credit cards currently active in the United States. Two have been acquired by large banks in 2021 (Capital One bought Lola and US Bancorp acquired Bento for Business) and will stay on this list as long as they operate as independent brands.

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 (Dec ’23)
1 1 Ramp 809 24 Jan ’24 2019 NYC $1,700 1,000,000
2 2 Expensify 330 24 Jan ’24 2008 SF $401 1,400,000
3 4 Spendesk 169 24 Jan ’24 2016 Paris $312 420,000
4 3 Bill (FKA Divvy) 153 24 Jan ’24 2016 Utah $418 460,000
5 6 Tribal Credit 137 24 Jan ’24 2016 SF $293 24,000
6 5 Jeeves 134 24 Jan ’24 2019 NYC $366 66,000
7 7 Airbase 111 24 Jan ’24 2017 SF $252 77,000
8 8 Parker 88 24 Jan ’24 2019 NYC $157 26,000
9 9 Bonsai 85 24 Jan ’24 2016 SF $0.1 420,000
10 10 Karat 52 24 Jan ’24 2019 SF $116 34,000
11 11 Center 35 24 Jan ’24 2018 Seattle $102 8,100
12 12t Teampay 29 24 Jan ’24 2016 NYC $65 12,000
13 14 Bento for Business (US Bank) 20 24 Jan ’24 2014 SF $25 88,000
14 12t PEX Card 16 24 Jan ’24 2007 NYC $4.9 110,000
15 15 Profit (was Swipedom) 8 24 Jan ’24 2019 NYC $1.5 20,000
16 16 Dash.fi (was FunnelDash) 3 24 Jan ’24 2016 Austin $3.7 5,500

Source: Compiled by FintechLabs, 24 Jan 2024, from Crunchbase, SEMrush, SimilarWeb

“Was” = rank on 24 Oct 2023

Notes:
*Sponsor (SP): FintechLabs may receive referral revenues or sponsorships from issuers. This does not impact their FAB score but does 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 = 809
– HQ: NYC
– Founded: 2019
– Valuation: $5.5B based on Aug 2023 round (FintechLabs) <<< Highest
–  Raised $1.7B including $300M in August 2023, $750M in 2022 (Crunchbase) <<< Highest
– Website visits: 1.0M (SimilarWeb, Dec 2023)
– Employees: 699 (Pitchbook, down 231 from Oct, up 41 since July) <<< Highest
– Articles: 91 (Crunchbase)
Linkedin: 110,000 followers (773, up 40 since July, down 322 employees Oct)
G2: 4.8 (1,870 reviews, up 90 since Oct)

2. Expensify
FAB Score = 330
– HQ: SF
– Founded: 2008
– Raised $401M (prior to 2022) (Crunchbase)
– Annual Revenue: $170M (2022)
– Market cap: $140M (NASDAQ:EXFY, 24 Jan 2024)
– Website visits: 1.4M (SimilarWeb, Dec 2023) <<<< Highest
– Employees: 138 (Pitchbook, unchanged since Oct, down 56 since Feb)
– Articles: 428 (Crunchbase) <<<< Highest
Linkedin: 16,000 followers (246 employees, down 2 since Oct, up 5 since July)
TrustRadius: 7.2 (375 reviews)

3. Spendesk
FAB score = 169 
– HQ: Paris
– Founded: 2016
– Raised: $312M including $110M in 2022 (Crunchbase)
– Valuation: $1.1B based on Jan 2022 round (FintechLabs)
– Website traffic: 420,000 (SimilarWeb; Dec 2023)
– Employees: 600 (Pitchbook, down 25 since Oct, up 15 since July)
– Article citations: 50 (Crunchbase)
Linkedin: 39,000 followers (590 down 35 since Oct, down 39 since July)

4. Bill (fka Divvy)
FAB Score = 153
– HQ: Utah
– Founded: 2016
– Valuation: $2.5B (June 2021 exit)
– Raised $418M (prior to 2022) (Crunchbase)
– Website visits:
Divvy.co >> 460,000 (SimilarWeb, Dec 2023)
Bill.com >> 3.4 million (SimilarWeb, Dec 2023)
– Employees: 443 (Pitchbook), unchanged since May
– Articles: 85 (Crunchbase)
Linkedin: 35,000 followers (312, down 37 since Oct, down 138 since July)
Trustpilot: 2.9 (452 reviews, up 6 since Oct)

5. Tribal
FAB Score = 137
– HQ: SF
– Founded: 2016
– Raised $293M ($100M in 2022 and $150M debt in Oct 2023) (Crunchbase)
– Website visits: 24,000 (SimilarWeb, Dec 2023)
– Employees: 400 (Pitchbook, unchanged since May)
– Articles: 19 (Crunchbase)
Linkedin: 25,000 followers (258 employees, down 63 since Oct, down 45 since July)
– Trustpilot: No reviews

6. Jeeves
FAB Score = 134
– HQ: NYC
– Founded: 2018
– Raised $368M ($180M in 2022) (Crunchbase)
– Valuation: $2.1B based on March 2022 round (FintechLabs)
– Website visits: 66,000 (SimilarWeb; Sep 2023)
– Employees: 237 (Pitchbook), unchanged since May
– Articles: 27 (Crunchbase)
Linkedin: 26,000 followers (263 employees, up 4 since Oct, up 24 since July)
Trustpilot: 2.5 (73 reviews, down 2 since Oct)

7. Airbase 
FAB Score = 111
– HQ: SF
– Founded: 2017
– Raised $252M (including $161M in 2022) (Crunchbase)
– Website visits: 77,000 (SimilarWeb, Dec 2023)
– Employees: 402 (Pitchbook, down 1 since Oct, up 129 since July)
– Articles: 208 (Crunchbase)
Linkedin: 43,000 followers (412 employees, up 15 since Oct, up 90 since July)
G2: 4.8 (1,370 reviews)  

8. Parker
FAB Score = 88
Founded: 2019
HQ: NYC
Raised: $157M in 2023 (Crunchbase)
Article citations: 1 (Crunchbase)
Employees: 37 (Pitchbook, unchanged since Oct, up 9 since July)
Website visits: 26,000 (Dec 2023, SimilarWeb)
Linkedin: 3,000 followers (65 employees, up 8 since Oct, up 29 since July)

9. Bonsai
FAB Score = 85
– HQ: San Francisco
– Founded: 2016
– Raised: $120,000+ (Crunchbase)
– Website traffic: 420,000 (SimilarWeb, Dec 2023)
– Employees: 49 (Linkedin, up 17 since July)
– Articles: 8 (Crunchbase)
– Linkedin followers: 3,00 (49 employees, unchanged since Oct, up 17 since July)
– Trustpilot: 4.4 (415 reviews, up 7 since Oct) <<< Highest Trustpilot score

10. Karat
FAB Score = 52 
– HQ: LA
– Founded: 2019
– Raised: $116M (including $70M in July 2023) (Crunchbase)
– Website visits: 34,000 (SimilarWeb; Oct 2023)
– Employees: 56 (Pitchbook, unchanged since Oct, up 5 since April)
– Articles: 4 (Crunchbase)
Linkedin: 8,000 followers (41, down 13 since Oct)
– Trustpilot: No reviews

11. Center
FAB Score = 35
– HQ: Bellevue, WA
– Founded: 2016
– Raised $102M including $30M in 2023 and $15M in 2o22 (Crunchbase)
– Website visits: 8,100 (SimilarWeb, Oct 2023)
– Employees: 193 (Linkedin)
– Articles: 2 (Crunchbase)
Linkedin: 4,000 followers (193 employees, unchanged since Oct, up 23 since July)
G2: 4.6 (337 reviews, up 37 since Oct)

12. TeamPay
FAB Score = 29
– HQ: NYC
– Founded: 2016
– Raised $65M, including $47M in 2022 (Crunchbase)
– Website visitors: 12,000 (SimilarWeb; Oct 2023)
– Employees: 63 (Pitchbook), unchanged since Oct, down 24 since July
– Articles: 13 (Crunchbase)
Linkedin: 3,800 followers (46 employees, down 5 since Oct, down 17 since July)
G2 rating: 4.4 (190 reviews, up 10 since Oct)

13. Bento for Business(acquired by US Bank, Aug 2021)
 FAB Score = 20
– HQ: NYC
– Founded: 2007
– Raised $24.5M (Crunchbase)
– Website visits: 88,000 (SimilarWeb; Dec 2023)
– Employees: 43 (Pitchbook, unchanged since April)
– Articles: 42 (Crunchbase)
Linkedin: 2,000 followers (38 employees, down 9 since Oct, down 5 since July)
Trustpilot: 2.0 (102 reviews, unchanged since July)

14. PEX Card
FAB Score = 16 
– HQ: NYC
– Founded: 2007
– Raised $4.9M (none since 2012) (Crunchbase)
– Website visits: 110,000 (SimilarWeb; Oct 2023)
– Employees: 91 (Pitchbook, up 1 since Oct, up 5 since July)
– Articles: 2 (Crunchbase)
Linkedin: 11,000 followers (89 employees, unchanged since July)
– Trustpilot: No reviews

15. Profit (was Swipedom) (acquired by Paymentus)
FAB Score = 8
– HQ: NYC
– Founded: 2019
– Raised $1.5M (including $1M in 2021) (Crunchbase)
– Website visits: 20,000 (SimilarWeb; Dec 2023)
– Employees: 9 (Pitchbook, unchanged since July)
– Articles: 4 (Crunchbase)
– Linkedin: NA
– Trustpilot: No reviews

16. Dash.fi (was FunnelDash)
FAB Score = 3
– HQ: Austin
– Founded: 2016
– Raised $3.7 (Crunchbase)
– Website visits: 10,000 (SimilarWeb Dec 2023)
– Employees: 17 (LinkedIn, up 4 since July)
– Articles: 0 (Crunchbase)
Linkedin: 450 followers (22 employees, up 5 since Oct, up 9 since July)
G2: 4.6 (64 reviews, unchanged since Oct)

 


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