How they describe themselves: Extend is a card distribution platform that redefines how credit cards are issued. Visa and Mastercard certified, Extend partners with banks and instantly integrates with their legacy systems to provide them and their customers with modern virtual credit card features. Extend offers an app for business customers that want to instantly equip staff members with virtual credit cards, and APIs for fintechs to leverage virtual credit cards.
Founded by Andrew Jamison, Guillaume Bouvard, and Danny Morrow, each with 20 years of experience in payments or technology, NY-based Extend is backed by top investors including Point72, Reciprocal, and Plug&Play.
How they describe their product/innovation: Companies don’t give all employees and contractors a credit card to make business purchases. As a result, companies face multiple challenges: shared credit cards being misused, personal cards being used, onerous reimbursement processes, reconciliation issues, missed credit card rewards, poor employee experience, etc. With Extend, businesses can securely send virtual credit cards to anyone instantly, allowing for better controls, visibility, and security over company spend.
Additionally, Extend’s powerful APIs allow fintechs to apply our technology and bank connections to tackle new problems. We’re just discovering the wide range of applications that the Extend platform API is capable of!
Product distribution strategy: Direct to Business (B2B), through financial institutions