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Expensify Combines Spending Controls and Expense Tracking with New Corporate Card

Expensify is the latest fintech to get into the card game. The San Francisco, California-based expense management solution provider announced today that its free corporate Expensify Card, will give businesses of all sizes a unique combination of spending power and control along with real-time expense management.

For Expensify, the new corporate card is a case of going back to the future. “Expensify started as a corporate card way back in 2008 before we decided to focus on expense,” company founder and CEO David Barrett explained, “so it’s fun to see the product come full circle with a card that naturally extends our existing platform. The card will make life easier for our customers, who no longer have to worry about lost receipts, late fees, or accidental overspending.”

The new offering automatically inputs expense details and produces an audit-protected receipt whenever an employee makes a transaction with the card. Expenses and transactions are shared with administrators in real-time, providing what the company called an “unmatched” degree of card control and significantly less risk of employee overspending.

The new Expensify corporate card also features continuous reconciliation of all approved expenses, spending controls and card limits on unapproved expenses, and no fees, interest, or personal guarantees. The card also offers perks from partners including Amazon Web Services, Stripe, Bill.com, and Stack Overflow.

One of Finovate’s earliest alums – making its Finovate debut in 2009 – Expensify most recently demonstrated its technology at our developers conference, FinDEVrSiliconValley, in 2016. At the event, David Barrett led a presentation titled Bedrock – Expensify’s Open-Sourced Infrastructure Secret Weapon, that discussed how the company’s geo-redundant database technology enabled it to become the fastest growing ERP software in the world.

This summer, Expensify became the first fintech company to win a Cannes Lio aard for Expensify This, a rap-influenced, marketing campaign featuring 2Chainz and Adam Scott. This year, the company partnered with bookkeeping franchise Supporting Strategies, and integrated with Southeast Asia-based ride-sharing firm Grab.

Founded in 2008, Expensify has raised more than $38 million in funding from investors including CIBC, OpenView Venture Partners, PJC, and Redpoint Ventures.