This does not impact their FAB score but does impact placement on the site. *Sponsor: FintechLabs may receive referral revenues or sponsorships from issuers. Source: Compiled by FintechLabs, 7 June 2023, from Crunchbase, SEMrush, SimilarWeb Ranked by FAB score (Fintech Attention Barometer**) Rank Leading USA Digital Small Business Charge Cards ( updated 7 June 2023) The FAB Score Ranking (Fintech Attention Barometer) is a proxy for the size of a private fintech company. NEW: Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses? Check out our latest lists: SMB online lenders (33) | SMB challenger banks (12) | SMB insurers (15) | SMB charge cards/expense management (16) | Billpay & invoicing (16)| Payment processors (7) | Subscription processors (7) | SMB digital accounting/bookkeeping (21) | Equity crowdfunding (7) Two have been acquired by large banks in 2021 ( Capital One bought Lola and US Bancorp acquired Bento for Business) and will stay on this list as long as they operate as independent brands. ![]() In addition, Expensify (founded in 2008), went public in Nov 2021 and is now worth $700M ( though it was valued at nearly $5B shortly after its IPO).īelow is a list of the 16 challenger business credit cards currently active in the United States. ![]() Marlize van Romburgh and Sophia Kunthara contributed.In the last six years, the corporate charge card market ( see definition below) has seen the launch of 3 major digital players ( Rampin 2019, Brex in 2017, and Divvyin 2016) that are already multi-unicorns. Tech-enabled residential real estate brokerage Compass also went public in April. Other startups in the homebuying space that have raised notable venture funding this year include Doorvest, Propertymate and Rendin. “It just creates a more consistent customer experience to not be using as many third parties and bring a lot of this stuff in house,” she said in that interview.ĭivvy’s funding and growth follows a pandemic-fueled homebuying boom across the country that has also pushed up prices. To date, its customers have exercised their option to purchase at a rate of roughly 40 percent, Divvy said this week.ĭivvy says it now operates in 16 markets and is expanding its footprint in Georgia, Texas and Florida, and works with about 25,000 real estate agents across the country.ĬEO Adena Hefets told Crunchbase News earlier this year that the company also plans to add adjacent homebuying services, such as in-house real estate agents, and title, escrow services and mortgage services. If a customer decides not to buy the home, they are able to cash out their savings, the company said. Customers then rent the home, with about 25 percent of the monthly payment going toward a future down payment, the company told Crunchbase News in February.Ĭlients can build up to 10 percent of the value of the home over the course of their three-year lease, but are also free to buy the home at any point during the lease. That growth, it said, attracted the attention of its lead investors, who it said “preempted the Series D.”Ĭustomers work with Divvy to find a home, and then the company purchases the home on their behalf with the customer contributing about 1 percent to 2 percent of the home’s value. The company said it has already closed more home sales this year than it did in total between its founding in 20. Its latest funding comes just six months after it raised a $110 million Series C funding, also led by Tiger Global. The funding reportedly values San Francisco-based Divvy at $2 billion.ĭivvy aims to make homeownership more accessible via a rent-to-own model. Divvy Homes has raised a $200 million Series D funding led by Tiger Global Management and Caffeinated Capital, with participation from existing investors including Andreessen Horowitz, GGV Capital, GIC and Moore Specialty Credit.
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