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October 16, 2019

Finance platform ScaleFactor targets small businesses with corporate card

American finance platform ScaleFactor in collaboration with Visa has rolled out a new corporate card for small and midsize businesses (SMBs) and very small businesses (VSBs).

Dubbed ScaleFactor Visa Card, the new offering enables small businesses to better manage their corporate expenses in real-time.

The company has integrated the card features with its existing platform that incorporates bookkeeping, payroll, bill pay, and tax products.

The users are allowed to issue physical, virtual as well as temporary cards.

Linking of the corporate card to its accounting books and records will avoid the hassle of downloading and synchronising card and spending reports across systems, according to ScaleFactor that raked in $60m funding in August.

The cardholders can also assign digital cards to online accounts with spending caps. Additionally, the users can freeze or annul individual cards without disturbing the other active accounts.

Furthermore, the new proposition also facilitates expense reporting and verification.

ScaleFactor founder and CEO Kurt Rathmann said: “Many small business owners are forced to adopt an inefficient patchwork of multiple cards and systems to manage their spending, resulting in delayed or incomplete pictures of their financial position.

“Because the ScaleFactor Visa Card is natively integrated with our accounting and finance platform, entrepreneurs gain access to a more robust and intelligent snapshot of their financial situation, coupled with increased control over when and how they pay their bills.”

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