How they describe themselves: Bento is addressing a large, unmet need by designing financial solutions specifically for small businesses. Traditional banks have treated this market as an afterthought, with hand-me-down products that were really built for large companies or consumers.
The Bento platform helps small businesses better manage and control expenses, become more efficient and raise capital more easily, all through an incredibly simple, elegant solution that connects online software to feature-rich payment cards. Bento’s mission is to free small business owners from the administrative and financial burdens of running a business, enabling them to focus on growing their business instead.
How they describe their product/innovation: Bento’s first offering, the Bento MasterCard, is a prepaid commercial card solution built just for small businesses.
Business owners can set rules by employee, amount, time and category before anyone can spend a dime. Bento cards can be enabled and disabled in a second with just one click and bear the employee’s name. Real-time dashboards enable business owners to see everything in one place and quickly track expenses by place, employee, project, category and more. Bento makes spend management and bookkeeping painless.
Product distribution strategy: Direct to Business (B2B), through financial institutions, through other fintech companies and platforms, licensed