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Because it’s hard for a lot of startups to qualify for traditional corporate charge cards with no personal guarantee even though the venture backed ones have a
by tempsy 7y ago
Because it’s hard for a lot of startups to qualify for traditional corporate charge cards with no personal guarantee even though the venture backed ones have a lot of money in the bank.
Personally I think the fact Stripe launched a competitor will make it hard for them to grow as fast as they might have prior.
- antaviana 7y agoMoreover, AFAIK, Stripe is an investor in Brex, so the bet in the corporate card business for Stripe is probably significant.
- ian0 7y agoNot sure if this is the case in the US, but here in SEA we had an unbelievably hard time getting corporate credit cards. In my previous company we were actually building credit card authentication systems for banks and schemes, a private company with years of operation. And still - we werent approved for a card! Never-mind being provided a solution for managing them correctly. In the end, like everyone else, we had to take out personal cards. The problem was, the company was so prompt repaying our personal cards we could never get approved for credit limit increases. Apparently you have to rack up some accruing debt... PS Obviously not related to valuation (perhaps?) but Brex has the most refreshingly clear description on the list "Brex does corporate credit cards."
- cfontes 7y agonice to know. Thanks for the reply