Here’s a new corporate card startup, backed by $157M in equity, debt, going after Brex, Ramp
By Editor - Thu Mar 16, 7:40 am
Parker , a startup offering a corporate credit card for e-commerce businesses, emerged from stealth Thursday with $157 million in equity and debt funding, much of which closed in 2022. The company touts itself as “the first charge card for e-commerce” with raised limits that are on average 10 to 20 times higher than traditional business credit cards, like CapitalOne, American Express and Brex. Co-founders Yacine Sibous and Milan Ray were more into computing before they kind of fell into the world of e-commerce. They were building internet-based businesses to help people build passive income when they came across the problem around financials in e-commerce. “We imagined building better financial products for e-commerce founders with the mission of increasing the number of financially independent people,” CEO Sibous told TechCrunch. Sibous and Ray founded Parker in 2019 and were part of the Y Combinator winter 2019 cohort. The company focuses on the middle market — companies doing $3 million to $100 million in annual sales
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Here’s a new corporate card startup, backed by $157M in equity, debt, going after Brex, Ramp