Marqeta and Found Bring Streamlined Expense Management Offerings to SMBs and Self-Employed Professionals
Marqeta (NASDAQ: MQ) has announced a new partnership with Found, a business banking platform for small businesses and self-employed entrepreneurs. Found's commercial card solution, powered by Marqeta, offers sophisticated expense management capabilities typically reserved for larger businesses. This collaboration aims to address the financial challenges faced by SMBs, as 82% of failures are due to cash flow issues.
The partnership enables Found to provide tailored physical, virtual, or tokenized cards with features like real-time transaction tracking and spending limits. Lauren Myrick, CEO of Found, emphasized the importance of this integration in enhancing financial wellness for the self-employed. Todd Pollak, Chief Revenue Officer at Marqeta, highlighted the company's commitment to enabling innovative solutions for the growing self-employed economy.
Marqeta (NASDAQ: MQ) ha annunciato una nuova partnership con Found, una piattaforma bancaria per piccole imprese e lavoratori autonomi. La soluzione per carte commerciali di Found, potenziata da Marqeta, offre capacità di gestione delle spese sofisticate, tipicamente riservate a realtà più grandi. Questa collaborazione mira a risolvere le problematiche finanziarie affrontate dalle PMI, poiché l'82% dei fallimenti è dovuto a problemi di flusso di cassa.
La partnership consente a Found di fornire carte fisiche, virtuali o tokenizzate su misura con funzionalità come il monitoraggio delle transazioni in tempo reale e limiti di spesa. Lauren Myrick, CEO di Found, ha sottolineato l'importanza di questa integrazione per migliorare il benessere finanziario dei lavoratori autonomi. Todd Pollak, Chief Revenue Officer di Marqeta, ha evidenziato l'impegno dell'azienda nel favorire soluzioni innovative per l'economia dei lavoratori autonomi in espansione.
Marqeta (NASDAQ: MQ) ha anunciado una nueva asociación con Found, una plataforma bancaria para pequeñas empresas y emprendedores autónomos. La solución de tarjeta comercial de Found, impulsada por Marqeta, ofrece capacidades de gestión de gastos sofisticadas, típicamente reservadas para empresas más grandes. Esta colaboración tiene como objetivo abordar los desafíos financieros que enfrentan las PYMEs, ya que el 82% de los fracasos se debe a problemas de flujo de caja.
La asociación permite a Found ofrecer tarjetas físicas, virtuales o tokenizadas personalizadas con características como el seguimiento de transacciones en tiempo real y límites de gasto. Lauren Myrick, CEO de Found, subrayó la importancia de esta integración para mejorar el bienestar financiero de los autónomos. Todd Pollak, Director de Ingresos de Marqeta, destacó el compromiso de la empresa en habilitar soluciones innovadoras para la creciente economía de trabajadores autónomos.
Marqeta (NASDAQ: MQ)는 소기업과 자영업자를 위한 비즈니스 뱅킹 플랫폼 Found와의 새로운 파트너십을 발표했습니다. Marqeta의 지원을 받는 Found의 상업 카드 솔루션은 일반적으로 더 큰 기업에만 제공되는 정교한 비용 관리 기능을 제공합니다. 이번 협력은 중소기업(SMB)이 직면한 재정적 문제를 해결하는 것을 목표로 하며, 실패의 82%가 현금 흐름 문제 때문입니다.
이 파트너십을 통해 Found는 맞춤형 물리적, 가상 또는 토큰화된 카드를 제공할 수 있으며, 실시간 거래 추적 및 지출 한도와 같은 기능을 포함합니다. Found의 CEO인 Lauren Myrick는 자영업자의 재정적 웰빙을 증진하는 데 있어 이 통합의 중요성을 강조했습니다. Marqeta의 수익 최고 책임자인 Todd Pollak은 자영업 경제의 성장을 위한 혁신적인 솔루션을 제공하겠다는 회사의 의지를 강조했습니다.
Marqeta (NASDAQ: MQ) a annoncé un nouveau partenariat avec Found, une plateforme bancaire pour les petites entreprises et les travailleurs indépendants. La solution de carte commerciale de Found, alimentée par Marqeta, offre des capacités de gestion des dépenses sophistiquées, généralement réservées aux grandes entreprises. Cette collaboration vise à répondre aux défis financiers auxquels sont confrontées les PME, 82 % des échecs étant dus à des problèmes de trésorerie.
Ce partenariat permet à Found de fournir des cartes physiques, virtuelles ou tokenisées sur mesure avec des fonctionnalités telles que le suivi des transactions en temps réel et les limites de dépenses. Lauren Myrick, PDG de Found, a souligné l'importance de cette intégration pour améliorer le bien-être financier des travailleurs indépendants. Todd Pollak, directeur des revenus chez Marqeta, a mis en avant l'engagement de l'entreprise à permettre des solutions innovantes pour l'économie des travailleurs autonomes en pleine expansion.
Marqeta (NASDAQ: MQ) hat eine neue Partnerschaft mit Found, einer Bankplattform für kleine Unternehmen und Selbstständige, angekündigt. Die von Marqeta unterstützte Geschäftskartenlösung von Found bietet anspruchsvolle Ausgabenmanagement-Funktionen, die normalerweise größeren Unternehmen vorbehalten sind. Diese Zusammenarbeit zielt darauf ab, die finanziellen Herausforderungen zu bewältigen, mit denen KMU konfrontiert sind, da 82% der Unternehmenspleiten auf Liquiditätsprobleme zurückzuführen sind.
Die Partnerschaft ermöglicht es Found, maßgeschneiderte physische, virtuelle oder tokenisierte Karten mit Funktionen wie Echtzeit-Transaktionsverfolgung und Ausgabenlimits anzubieten. Lauren Myrick, CEO von Found, betonte die Bedeutung dieser Integration zur Verbesserung des finanziellen Wohlstands von Selbstständigen. Todd Pollak, Chief Revenue Officer bei Marqeta, hob das Engagement des Unternehmens hervor, innovative Lösungen für die wachsende Selbstständigenwirtschaft zu ermöglichen.
- Partnership with Found expands Marqeta's reach in the SMB and self-employed market
- Provides advanced expense management capabilities to an underserved market segment
- Potential for increased transaction volume and revenue through Found's customer base
- Strengthens Marqeta's position in the commercial card solutions space
- None.
Insights
Found's partnership with Marqeta to offer streamlined expense management solutions for SMBs and self-employed professionals is a strategic move in the fintech space. This collaboration addresses a significant market gap, as 82% of SMB failures are attributed to cash flow issues. By leveraging Marqeta's modern card issuing platform, Found can provide sophisticated banking capabilities typically reserved for larger businesses.
The partnership has potential for substantial growth, considering the large and underserved SMB market. Marqeta's flexible platform allows for customized card solutions, real-time spend tracking and enhanced control over expenses. This could lead to increased transaction volume and revenue for Marqeta, as well as customer acquisition and retention for both companies.
However, the impact on Marqeta's immediate financials may be , as the partnership's success depends on Found's ability to scale its customer base. Investors should monitor key metrics such as transaction volume, customer growth and revenue contribution from this partnership in future earnings reports to gauge its long-term value for Marqeta.
The partnership between Marqeta and Found taps into a growing market trend: the rise of the gig economy and self-employment. This move aligns with the increasing demand for specialized financial services tailored to small businesses and freelancers. The global gig economy is projected to grow significantly, presenting a substantial opportunity for fintech solutions targeting this segment.
Found's all-in-one platform, enhanced by Marqeta's card issuing capabilities, offers a compelling value proposition in a competitive market. The combination of expense management, tax management and bookkeeping services addresses key pain points for SMBs and self-employed professionals. This integrated approach could give both companies a competitive edge and drive user adoption.
However, the success of this partnership will depend on factors such as user experience, pricing strategy and marketing effectiveness. Investors should watch for metrics like user acquisition costs, customer lifetime value and market share gains to assess the long-term potential of this collaboration in the evolving fintech landscape.
Marqeta’s modern platform is powering Found’s Business debit card, opening access to customized business banking capabilities for SMBs and self-employed entrepreneurs usually reserved for larger businesses.
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 –
“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,” 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.”
Marqeta’s commercial card solutions are flexible and scalable, allowing businesses to tailor them to their specific needs. With Marqeta’s robust platform, businesses can monitor and control spend on their cards in real time, allowing them to establish spending limits for employees and track spending. Marqeta’s business customers have greater visibility and control over their card programs, helping to ensure regulatory compliance and enhanced business operations and financial management.
“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,” said Todd Pollak, Chief Revenue Officer at Marqeta. “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.”
About Marqeta (NASDAQ: MQ)
Marqeta makes it possible for companies to build and embed financial services into their branded experience—and unlock new ways to grow their business and delight users. The Marqeta platform puts businesses in control of building financial solutions, enabling them to turn real-time data into personalized, optimized solutions for everything from consumer loyalty to capital efficiency. With compliance and security built-in, Marqeta’s platform has been proven at scale, processing more than
About Found
Found is a fintech company on a mission to make self-employment easier. Found provides small business owners and self-employed professionals with business checking accounts integrated with bookkeeping, invoicing, and tax tools. Found is a financial technology company, not a bank. Banking services are provided by Piermont Bank, Member FDIC. The Found Mastercard Business debit card is issued by Piermont Bank pursuant to a license from Mastercard Inc.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements expressed or implied in this press release include, but are not limited to, quotations and statements relating to changing consumer preferences; increasing consumer adoption of certain digital payment methods, products, and solutions; which payment, banking, and financial services products and solutions may succeed; technological and market trends; Marqeta’s business; Marqeta’s products and services; and statements made by Marqeta’s senior leadership. Actual results may differ materially from the expectations contained in these statements due to risks and uncertainties, including, but not limited to, the following: any factors creating issues with changes in domestic and international business, market, financial, political and legal conditions; and those risks and uncertainties included in the “Risk Factors” disclosed in Marqeta's Annual Report on Form 10-K, as may be updated from time to time in Marqeta’s periodic filings with the SEC, available at www.sec.gov and Marqeta’s website at http://investors.marqeta.com. The forward-looking statements in this press release are based on information available to Marqeta as of the date hereof. Marqeta disclaims any obligation to update any forward-looking statements, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240926397885/en/
James Robinson
press@marqeta.com
Source: Marqeta
FAQ
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