FinTech news in corporate card category

Parker is also working toward profitability, and the company is working on scaling to access the cheaper cost of capital and upsell other products, though there is a path to profitability on just the card business, Sibous said. Parker, a startup offering a corporate credit card for e-commerce businesses, emerged from stealth Thursday with $157 million in equity and debt funding, much of which closed in 2022. In addition, the company offers payment terms that Sibous said make sense in the context of e-commerce — think net terms on every transaction. Sibous believes Parker has a good opportunity to compete in the crowded credit card space that includes other venture-backed companies like Moss and Emburse.

With 12 million users and nearly $200 million in annual recurring revenue, expense software provider Emburse has built much of its business in the enterprise. Historically, it has competed with legacy players like Concur and Expensify and ERP players. But now Emburse is making a big push into the SMB space and going head-to-head with \[…\]

Starlight’s core customers are companies who need to convert some of their cash into crypto, many of which are digitally native but new to web3, Nguyen said. He added that Starlight has also seen interest in its product from crypto-native entities, including DAOs, which often invest in other companies, creating a need for them to convert cash into crypto and vice versa.