Marqeta, the global modern card issuing platform, has announced a new customer, Found, a business banking platform that supports small businesses and the self-employed.
Found’s commercial card solution, powered by Marqeta, allows small businesses and self-employed entrepreneurs to access sophisticated and customised business banking capabilities. With streamlined expense management capabilities, Found users can monitor and control card spending, helping them manage their finances more efficiently and securely.
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The SMB economy is traditionally overlooked by big banks and lacks the flexible tools needed to manage their expenses and improve access to working capital, with huge consequences, 82% of SMBs that fail do so because of cash flow issues.
Found’s business banking platform is designed to bring advanced capabilities to small business owners and the self-employed, allowing for proper expense management solutions, along with simplified tax management and bookkeeping, to support their business needs.
By partnering with Marqeta, Found will have access to a user-friendly, comprehensive platform that provides tailored physical, virtual or tokenised cards that simplify expense management and enhance cash flow for its customer base.
Found’s customers can set spending limits and track transactions in real-time directly within the platform
Lauren Myrick, CEO of Found, said: “Found is committed to enhancing financial wellness for the self-employed with our all-in-one banking platform. Marqeta’s deep expertise and highly adaptable platform allow us to strengthen our offering with expense management solutions that cater to the unique needs of small business owners. By integrating with their platform, we can create personalised card solutions that simplify expense management, giving our customers more time to focus on their businesses and boost profitability.”
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By GlobalDataTodd Pollak, Chief Revenue Officer at Marqeta, said: “Innovators like Found are leading the way in catering to the rapidly growing self-employed economy. As the sector grows, Marqeta is dedicated to enabling innovative solutions that make spend management effortless for these businesses. Our partnership with Found is another example of how we’re helping to open access to working capital for SMBs and enable financial management that stimulates business growth.”
