Launched in 2017 as a corporate card provider for venture backed businesses, Brex has since expanded to offer small and medium-sized businesses as well as larger organizations an all-in-one finance management platform.
Another competitor, expense reporting startup for small businesses, Divvy, is in the process of being acquired by Bill.com, a cloud software-based platform for SMBs, for approximately $2.5 billion.
Bakkt, a crypto venture of New York Stock Exchange-owner ICE, has been actively trying to advertise its all-in-one digital wallet, also supporting loyalty and rewards programs. In March, bitcoin rewards provider Lolli, whose notable partners include Nike, eBay and Sephora, raised a $5 million pre-Series funding from Alexis Ohanian and Serena Williams, among other notable investors.
We can serve as their primary cash management accountant, primary credit card or primary expense management software” versus being a crypto-only provider.
I report on cryptocurrencies and emerging use cases of blockchain.