Revenued Announces First 1,000 Corporate Cards Issued
JERSEY CITY, NJ, May 18, 2022 /PRNewswire/ — Revenued, the first corporate card with Flex Line for underserved and credit-challenged small businesses, today announced the successful completion of its first 1,000 issued cards and Flex Lines. Each paid business card comes with a flexible line that allows small businesses to access capital in addition to using their card for expenses. Revenued has reinvented underwriting for small businesses using the data and credit experience of more than 1B in small business financing to develop a credit score based on business revenue and not the owner’s personal credit score.
“After pivoting to help over 130,000 small businesses during PPP raise more than $4 billionwe are happy to return to our core mission of providing access to capital for small businesses, regardless of their credit rating,” said Lax soil, CEO of Revenued. “With the launch of the Revenued Business Card and the Flex Line, small businesses can access capital in the most efficient way. Compared to the traditional merchant cash advance which is rigid and expensive, Revenued puts control back in the hands of the small business owner.”
Highlights of the new paid business card include:
- Online application with fast automated subscription
- Online account management for Flex Line as well as card
- Higher spending limits compared to traditional cards
- 3% cash back on all category card spend
Highlights of the paid flexible line include:
- Approvals up to $250,000 in drawing capacity
- Online application with set of tools for cash flow management
- Lower cost compared to serial MCA renewals
Revenued is a portfolio company of Capital Z Partners, a private equity fund specializing in financial services. Led by a team of pioneers in the small business alternative finance industry, revenues have provided over 130,000 businesses with more than $4 billion in funding during the Paycheck Protection Program (PPP). The Revenueed Business Card Visa® Commercial Card is issued by Sutton BankFDIC member, pursuant to a license from Visa UNITED STATES Inc. Visa® Commercial Business Card is powered by Marqueta.