Marqeta Teams With Found to Streamline Expense Management

Card issuer Marqeta has launched a partnership with small business banking platform Found.

The collaboration, announced in a news release Thursday (Sept. 26), offers small- to medium-sized business (SMB) owners and self-employed entrepreneurs access to customized business banking capabilities via Found’s Marqeta-powered commercial card solution.

“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,” the companies said. “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 working with Marqeta, the release added, Found gains access to a platform that provides tailored physical, virtual or tokenized cards designed to simplify expense management and improve cash flow for its customers.

Found’s customers can set spending limits and monitor transactions in real time from the Found platform, ensuring a smooth and customized user experience, the companies said.

“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,” said Lauren Myrick, CEO of Found. “By integrating with their platform, we can create personalized card solutions that simplify expense management, giving our customers more time to focus on their businesses and boost profitability.”

The partnership comes at a time when 60% of SMBs are dealing with cash flow management troubles, as research by PYMNTS Intelligence has found.

And as noted here earlier this month, the adoption of digital tools offers SMBs an important chance to enhance cash management.

“Currently, 32% of U.S. SMBs are using instant payment methods to expedite transactions, which coupled with increased accounts payable (AP) automation, represents a strategic shift toward streamlined processes,” that report said.

Jason Carlson, CFO of Mood Media, underscored the urgency of digital transformation in an interview with PYMNTS.

“Timely payments are crucial for sustaining operations, especially for SMBs that lack financial reserves,” he said.

Carlson stressed that outdated payment systems contribute to inefficiencies and errors, advising SMBs to consider digital solutions, such as direct debit and credit card payments, and to choose banking partners that provide tailored services.

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