FinTech news in spend management category

During one of the most rapid raises of interest rates we’ve really seen in U.S. history and with the cost of capital gone up, companies realized they need to make the most of every dollar,” he said

It was at that point that TripActions made the decision to accelerate the timeline for its fintech expense product, TripActions Liquid, which had launched only a month before the pandemic. At that time, the company told me that transaction volume processed via TripActions Liquid more than doubled (by 107%) from January 2022 through March 2022, up 1,231% year-over-year. Citing an unnamed source, Business Insider broke the news on Wednesday that the company had filed confidential paperwork with the U.S. Securities and Exchange Commission for an initial public offering. Prior to the COVID-19 pandemic, TripActions was primarily known for merging many aspects of corporate trip booking — flights, hotels and rental cars — with expense tracking.

The corporate spend startup launched its bill pay feature in October of 2021, building upon its corporate card business and accounting software product. If the business pays back the money within 30 days and did not use their card, Ramp won’t actually make any money off it using the bill pay feature.

While banks use rigorous credit policies and don’t care much about small businesses, particularly those without any local credit history or track record, informal lenders act as loan sharks to the detriment of these businesses.

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 \[…\]

To that end, and like the aforementioned spend management companies, Coast has created a commercial charge card designed for the businesses that operate vehicle fleets, such as trucking companies, plumbers, HVAC businesses or last-mile delivery companies.

What sets Moss apart from its competitors is that it offers credit cards, not debit cards. And if a restaurant doesn’t accept card payments, Moss also handles cash expenses and reimbursements.

Spendesk customers can order physical cards for employees, team members can use the platform to pay outstanding invoices, file expense reports, manage budgets and generate spending reports.