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 $50M per MONTH!
Here is a list of the 15 challenger business credit cards currently active in the United States. The top 10 are profiled after that.
| Rank | Company | FAB Score* | Founded | HQ | Funding ($M) | Visits (5/21) |
| 1 | Brex | 390 | 2017 | SF | $1,200 | 750,000 |
| 2 | Expensify** | 132 | 2008 | SF | $38.2 | 1,060,000 |
| 3 | Divvy (Bill.com) | 128 | 2016 | Utah | $418 | 182,000 |
| 4 | Ramp | 125 | 2019 | NYC | $310 | 162,000 |
| 5 | Rho*** | 42 | 2018 | NYC | $120 | 5,200 |
| 6 | Lola | 18 | 2015 | Boston | $81.7 | 22,200 |
| 7 | Tribal Credit | 15 | 2016 | SF | $43.4 | 17,200 |
| 8 | Bento for Business | 13 | 2014 | SF | $18.5 | 87,000 |
| 9 | PEX Card | 6 | 2007 | NYC | $4.9 | 111,000 |
| 10 | FunnelDash | 6 | 2016 | Austin | $0.5 | 46,500 |
| 11 | Teampay | 6 | 2016 | NYC | $21.0 | 5,600 |
| 12 | Karat | 5 | 2019 | SF | $4.6 | 4,800 |
| 13 | Swipedom | 3 | 2019 | NYC | $0.5 | 0 |
| 14 | Center | 3 | 2018 | Seattle | $5.0 | 370 |
| 15 | Comcard | 3 | 2019 | LA | $0.2 | 0 |
Source: FintechLabs, Crunchbase, SEMrush, SimilarWeb; 16 June 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 last month (13 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 = 390
– HQ: SF
– Founded: 2017
– Raised $1.2B ($575M in past 12 months) (Crunchbase)
– Website visits (May 2021): 750,000 (SimilarWeb)
– Employees: 634 (Pitchbook)
– Citations: 188 (Crunchbase)
– Twitter: 6,280 followers
– Trustpilot: 4.8 (403 reviews)
2. Expensify
FAB Score = 132
– HQ: SF
– Founded: 2008
– Raised $38.2M ($0 in past 12 months) (Crunchbase)
– Website visits (May 2021): 1.1M (SimilarWeb)
– Employees: 130 (Pitchbook)
– Citations: 340 (Crunchbase)
– Twitter: 15,100 followers
– TrustRadius: 8.8 (236 reviews) (Note: TrustPilot scores not valid at this time).
3. Divvy (acquired by Bill.com 1 June 2021 for $2.5B)
FAB Score = 128
– HQ: Utah
– Founded: 2016
– Raised $418M ($165M in past 12 months) (Crunchbase)
– Website visits (May 2021): 182,000 (SimilarWeb)
– Employees: 443 (Pitchbook)
– Citations: 61 (Crunchbase)
– Twitter: 2,100 followers
– Trustpilot: 4.4 (138 reviews)
4. Ramp
FAB Score = 125
– HQ: NYC
– Founded: 2019
– Raised $310M ($295M in past 12 months) (Crunchbase)
– Website visits (May 2021): 162,000 (SimilarWeb)
– Employees: 84 (Pitchbook)
– Citations: 2 (Crunchbase)
– Twitter: 4,120 followers
– Capterra: 5.0 (43 reviews) (no reviews on TrustPilot)
5. Rho
FAB Score = 42
– HQ: NYC
– Founded: 2018
– Raised $120M ($100M in 2021) (Crunchbase)
– Website visits (May 2021): 5,200 (SEMRush)
– Employees: 32 (Pitchbook)
– Citations: 18 (Crunchbase)
– Twitter: 710 followers
– Trustpilot: No reviews
6. Lola
FAB Score = 18
– HQ: Boston
– Founded: 2018
– Raised $81.7M ($0 in past 12 months) (Crunchbase)
– Website visits (May 2021): 22,200 (SimilarWeb)
– Employees: 67 (Pitchbook)
– Citations: 3 (Crunchbase)
– Twitter: 4,000 followers
– Trustpilot: 4.1 (26 reviews)
7. Tribal Credit
FAB Score = 15
– HQ: SF
– Founded: 2016
– Raised $43.4M ($34.3M in past 12 months) (Crunchbase)
– Website visits (May 2021): 17,200 (SEMRush)
– Employees: 75 (Owler)
– Citations: 7 (Crunchbase)
– Twitter: 990 followers
– Trustpilot: No reviews
8. Bento for Business
FAB Score = 6
– HQ: NYC
– Founded: 2007
– Raised $4.9M ($0 in past 12 months) (Crunchbase)
– Website visits (May 2021): 87,000 (SimilarWeb)
– Employees: 29 (Pitchbook)
– Citations: 18 (Crunchbase)
– Twitter: 710 followers
– Trustpilot: 4.0 (94 reviews)
9. PEX Card
FAB Score = 42
– HQ: NYC
– Founded: 2007
– Raised $4.9M ($0 in past 12 months) (Crunchbase)
– Website visits (May 2021): 111,000 (SimilarWeb)
– Employees: 74 (Pitchbook)
– Citations: 1 (Crunchbase)
– Twitter: 3,510 followers
– Trustpilot: No reviews
10. FunnelDash
FAB Score = 6
– HQ: Austin
– Founded: 2016
– Raised $0.5 ($0 in last 12 months) (Crunchbase)
– Website visits (May 2021): 46,500 (SimilarWeb)
– Employees: 23 (Craft.co)
– Citations: 18 (Crunchbase)
– Twitter: 8,680 followers
– Rating: 4.6 (62 reviews per G2, no TrustPilot score)
