• Monzo launched Team, a new offering aimed at larger small businesses that outgrow its Business Pro and Lite plans.
• Team includes the same tools as Pro and Lite plans, but also offers features such as employee expense cards, bulk payments, and account access for up to 15 members.
• Team is available in the U.K. and is priced at £25 per month.

U.K.-based digital banking platform Monzo is building out its small business offerings this week with the launch of Team.

Monzo’s Team offering complements Monzo Business Pro and Monzo Business Lite plans, which collectively serve more than 500,000 businesses. The digital bank created Team to serve businesses that are too large to have their needs met by either the Pro or Lite plans.

“With Team, we’re bringing that to bigger small businesses by introducing features that teams need to help run the business day-to-day,” the company said in its blog post announcement. “Bigger, more complex teams up and down the country whose needs weren’t being met by our Lite and Pro plans before.”

Monzo’s Team product comes with all of the products and services that Lite and Pro offer, including Tax Pots for tax savings accounts, invoicing, integrated accounting and more. Additionally, the new Team accounts come with employee expense cards, offer the ability to create payment approval limits, as well as the capabilities to tailor individual account access levels for up to 15 people.

Notably, Team also allows for bulk payments. Businesses can use Team to upload payee details and make multiple payments at the same time for things like salaries and suppliers, without having to worry about manually entering the payee details every time.

Limited companies can have up to 15 team members and sole traders can have a team of three people and set what individual team members can see and do. Pricing for Teams, which is currently only available to businesses in the U.K., starts at $32 (£25) a month. 

Founded in 2015, Monzo is one of the earlier small business digital bank providers. The company also offers personal accounts. With 10 million personal credit card holders, Monzo also provides savings, pension, investments, debit cards, and loan products. Monzo’s competitors include well known brands such as Revolut, Starling, N26, and Monese.

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• Brex and Navan have teamed up to launch BrexPay for Navan, a business travel and payments solution that combines Brex’s global payments infrastructure with Navan’s travel-booking system.
• The new tool leverages Navan Connect and Brex Embedded, and will allow companies to use their existing payment cards while benefitting from automated receipts and reconciliation.
• This partnership will offer Navan a competitive edge by creating a scalable travel program with local currency cards and a seamless payments integration.

Corporate card and expense management fintech Brex has partnered with travel and expense solution Navan to launch a joint offering.

The new product, BrexPay for Navan, is an integrated business travel and payments solution for Navan users that streamlines travel payments into a single workflow when using the Navan travel management system. The new tool taps Navan Connect, a card-link technology that allows companies to use their existing payment cards and banking relationships, and Brex’s embedded finance tool, Brex Embedded.

The result of the collaboration is a direct integration between Brex’s global payments infrastructure and Navan’s travel-booking infrastructure. The new tools offer Navan’s business clients higher limits than legacy cards and local currency cards across more than 50 countries, a scalable travel program that facilitates compliance and helps reduce costs, and automated receipts and reconciliation that saves companies hours of accounting time each month.

“With BrexPay for Navan, we are bringing something truly unique and monumental to the market,” said Brex CEO Pedro Franceschi. “By combining Brex’s fast onboarding, global acceptance, and homegrown financial stack with Navan’s end-to-end business travel offering into one solution, customers now have access to a payments and travel experience that is beyond any other corporate travel and payments solution.”

For Navan, integrating payments into its existing corporate travel booking tool has the potential to both attract new clients and maintain its existing client base. That’s because for Navan, integrating payments into its existing corporate travel booking tool has the potential to both attract new clients and maintain its existing client base by offering businesses a single, cohesive solution for managing both travel and payments, eliminating the need to juggle multiple platforms.

By combining Brex’s multi-faceted financial infrastructure with Navan’s travel management system, companies benefit from higher credit limits, local currency options, and automated reconciliation, making it easier to scale travel programs globally while saving time and reducing costs. The move not only simplifies operations, but also enhances the overall user experience, giving Navan a competitive edge in a market that values efficiency and innovation.

Brex was founded in 2017 to create a digital-first business banking solution. The company offers business bank accounts with credit cards that have built-in rewards, spend controls, and expense tracking. The accounts provide businesses access to their online revenue, billpay tools, and integration with popular accounting tools.

Brex quickly rose to prominence in the fintech space after positioning itself as a digital bank account and card offering for startups. The company sought to solve pain points that often come with corporate cards, including lengthy approval processes and restrictive credit limits. Within just two years, Brex managed to raise billions of dollars in funding and achieve unicorn status.

In 2022, however, as Brex expanded its focus from small businesses to larger, venture-backed companies, the company experienced a downward shift. Because Brex discontinued some of its services geared toward small businesses– its original customer base– many customers left to seek alternative solutions. negative backlash.

Despite the dip, Brex remains a major player in the fintech space, serving “tens of thousands of businesses” ranging from small private companies to large public brands, including Airbnb and Classpass.