In the last six 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 late last year and is now worth $1.5B (though it was valued at nearly $5B shortly after its 10 Nov 2021 IPO).

Below is a list of the 17 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.

Challenger of the Month

ramp charge card logo

Website  |  HQ: NYC  |  Founded: 2019  |  Valuation: $8.1B  |  Raised: $1.4B (including $750M in 2022)  |  Website visits (June 2022): 980,000  |  Employees: 402  |  Article citations: 37  |  Linkedin: 40,000 followers

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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 (updated 22 Aug 2022)
ranked by FAB score (Fintech Attention Barometer*)

Rank Was Company FAB Score Reviewed Founding HQ Funding ($M)*** Visits June '22
1 1 Ramp 864 22 Aug '22 2019 NYC $1,360 980,000
2 2 Expensify** 500 22 Aug '22 2008 SF $401 1,600,000
3 3 Jeeves 214 22 Aug '22 2019 NYC $368 140,000
4 4 Divvy (Bill.com) 194 22 Aug '22 2016 Utah $418 370,000
5 6 Airbase 133 22 Aug '22 2017 SF $252 81,000
6 5 Tribal Credit 93 22 Aug '22 2016 SF $143 120,000
7 8 Karat 34 22 Aug '22 2019 SF $46 44,000
8 9 Center 30 22 Aug '22 2018 Bellevue, WA $54 9,500
9 7 Bento for Business (US Bank) 27 22 Aug '22 2014 SF $25 110,000
10 11 PEX Card 20 22 Aug '22 2007 NYC $5 130,000
11 10 Lola (Capital One) 17 22 Aug '22 2015 Boston $82 25,000
12 12 Teampay 12 22 Aug '22 2016 NYC $21 39,000
13 15 Dash.fi (was FunnelDash) 5 22 Aug '22 2016 Austin $4 14,100
14(t) 13(t) Profit (was Swipedom) 4 22 Aug '22 2019 NYC $1 400
14(t) 13(t) Comcard 4 22 Aug '22 2019 LA $0 INA

Source: Compiled by FintechLabs, 22 Aug 2022, from Crunchbase, SEMrush, SimilarWeb
“Was” = rank on 8 June 2022

Notes:

*FAB score = Fintech Attention Barometer, a proprietary measure of company size calculated by Fintech Labs. Inputs primarily include funding, website traffic and employee count.
**Expensify is more known for expense management, but introduced a corporate charge card in Oct 2019.
***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 (as of 23 Mar 2022)

1. Ramp
FAB Score = 864 (unchanged since June 2022)
– HQ: NYC
– Founded: 2019
– Valuation: $8.1B (based on Feb 2022 round) <<< Highest
– Raised $1.4B total <<< Highest
–  Raised $1.3B since Jan 2021 (Crunchbase) <<< Highest
– Website visits (June 2022): 980,000 (SimilarWeb)
– Employees: 402 (Pitchbook) <<< Highest
– Articles: 37 (Crunchbase)
Linkedin: 40,400 followers (438 employees)
G2: 4.7 (618 reviews) (no reviews on TrustPilot)

2. Expensify
FAB Score = 500 (down 20)
– HQ: SF
– Founded: 2008
– Raised $401M ($363 in since Jan 2021) (Crunchbase)
– Market cap: $1.5B (NASDAQ:EXFY)
– Website visits (June 2022): 1.6M (SimilarWeb) <<<< Highest
– Employees: 144 (Pitchbook)
– Articles: 388 (Crunchbase)
Linkedin: 11,400 followers (208 employees)
TrustRadius: 8.1 (306 reviews) (Note: TrustPilot scores not valid at this time).

3. Jeeves
FAB Score = 214 (unchanged)
– HQ: NYC
– Founded: 2018
– Raised $368M ($363M since Jan 2021) (Crunchbase)
– Website visits (June 2022): 140,000 (SimilarWeb)
– Employees: 148 (Pitchbook)
– Articles: 14 (Crunchbase)
Linkedin: 14,300 followers (221 employees)
Trustpilot: 4.1 (25 reviews)

4. Divvy (acquired by Bill.com)
FAB Score = 194 (up 14)
– HQ: Utah
– Founded: 2016
– Valuation: $2.5B (June 2021 exit)
– Raised $418M ($165M since Jan 2021) (Crunchbase)
– Website visits (June 2022): 370,000 (SimilarWeb)
– Employees: 443 (Pitchbook)
– Articles: 76 (Crunchbase)
Linkedin: 28,000 followers (723 employees)
Trustpilot: 2.6 (264 reviews)

5. Airbase 
FAB Score = 133 (up 74)
– HQ: SF
– Founded: 2017
– Raised $252M ($221M since Jan 2021) (Crunchbase)
– Website visits (June 2022): 81,000 (SimilarWeb)
– Employees: 273 (Pitchbook)
– Articles: 162 (Crunchbase)
Linkedin: 35,100 followers (286 employees)
G2: 4.8 (864 reviews) <<< Highest

6. Tribal Credit
FAB Score = 93 (down 8)
– HQ: SF
– Founded: 2016
– Raised $143M ($134M since Jan 2021) (Crunchbase)
– Website visits (June 2022): 120,000 (SimilarWeb)
– Employees: 400 (Pitchbook)
– Articles: 14 (Crunchbase)
Linkedin: 21,100 followers (404 employees)
– Trustpilot: No reviews

7. Karat
FAB Score = 34 (down 2)
– HQ: LA
– Founded: 2019
– Raised: $45.6 ($41 since Jan 2021) (Crunchbase)
– Website visits (June 2022): 44,000 (SimilarWeb)
– Employees: 35 (Pitchbook)
– Articles: 4 (Crunchbase)
Linkedin: 3,300 followers (50 employees)
– Trustpilot: No reviews

8. Center
FAB Score = 30 (down 2)
– HQ: Bellevue, WA
– Founded: 2016
– Raised $54.3 ($49.3M in last 12 months) (Crunchbase)
– Website visits (June 2022): 9,500 (SimilarWeb)
– Employees: 125 (Linkedin)
– Articles: 2 (Crunchbase)
Linkedin: 1,600 followers (125 employees)
G2: 4.6 (208 reviews)

9. Bento for Business (acquired by US Bank, Aug 2021)
 FAB Score = 27 (down 24)
– HQ: NYC
– Founded: 2007
– Raised $24.5M ($6M since Jan 2021) (Crunchbase)
– Website visits (Jan 2022): 110,000 (SimilarWeb)
– Employees: 32 (Pitchbook)
– Articles: 42 (Crunchbase)
Linkedin: 1,400 followers (35 employees)
Trustpilot: 2.3 (101 reviews)

10. PEX Card
FAB Score = 20 (up 7)
– HQ: NYC
– Founded: 2007
– Raised $4.9M ($0 in past 12 months) (Crunchbase)
– Website visits (June 2022): 130,000 (SimilarWeb)
– Employees: 91 (Pitchbook)
– Articles: 2 (Crunchbase)
Linkedin: 5,900 followers (91 employees)
– Trustpilot: No reviews

11. Lola (acquired by Capital One, 2021)
FAB Score = 17 (up 4) 
– HQ: Boston
– Founded: 2018
– Raised $81.7M (prior to 2021) (Crunchbase)
– Website visits (June 2022): 25,000 (SimilarWeb)
– Employees: 57 (Pitchbook)130
– Articles: 4 (Crunchbase)
Linkedin: 6,600 followers (12 employees)
Trustpilot: 4.1 (215 reviews)

12. TeamPay
FAB Score = 12 (up 2)
– HQ: NYC
– Founded: 2016
– Raised $21M (prior to 2021) (Crunchbase)
– Website visitors (June 2022): 39,000 (SimilarWeb)
– Employees: 97 (Pitchbook)
– Articles: 6 (Crunchbase)
Linkedin: 3,000 followers (101 employees)
G2 rating: 4.3 (96 reviews)

13. Dash.fi (was FunnelDash)
FAB Score = 5 (up 1)
– HQ: Austin
– Founded: 2016
– Raised $3.7 ($3.2M since Jan 2021) (Crunchbase)
– Website visits (June 2022): 14,100 (SimilarWeb)
– Employees: 26 (LinkedIn)
– Articles: 0 (Crunchbase)
Linkedin: 270 followers (26 employees)
G2: 4.5 (63 reviews)

14 (tie). Profit (was Swipedom)
FAB Score = 4 (unchanged)
– HQ: NYC
– Founded: 2019
– Raised $500k (prior to 2021) (Crunchbase)
– Website visits (June 2022): 400 (SEMrush)
– Employees:9 (Pitchbook)
– Articles: 4 (Crunchbase)
Linkedin: 180 followers (83 employees)
– Trustpilot: No reviews

14 (tie). Comcard
FAB Score = 4 (unchanged)
– HQ: LA
– Founded: 2019
– Raised $200k (prior to 2021) (Crunchbase)
– Website visits: INA (SEMrush)
– Employees: 4 (Linkedin)
– Articles: 1 (Crunchbase)
Linkedin: 90 followers (4 employees)
– Reviews: NA


Unranked (focusing on larger businesses and enterprises)

Brex 
FAB Score = 649 (unchanged)
– HQ: SF
– Founded: 2017
– Valuation: $12B (based on Oct 2021 round)
– Raised $1.46B ($725M since Jan 2021) (Crunchbase)
– Website visits (June 2022): 900,000 (SimilarWeb)
– Employees: 1,200 (Pitchbook)
– Articles: 299 (Crunchbase)
Linkedin: 89,600 followers (1,335 employees)
Trustpilot: 3.6 (541 reviews)

Rho
FAB Score = 113 (up 4)
– HQ: NYC
– Founded: 2018
– Raised $205M ($200M since Jan 2021) (Crunchbase)
– Website visits (June 2022): 46,000 (SimilarWeb)
– Employees: 128 (Pitchbook)
– Articles: 21 (Crunchbase)
Linkedin: 4,000 followers (177 employees)
– Trustpilot: No reviews