So basically it’s a product for valley startup type companies that just closed rounds of financing, but don’t yet have sophisticated financial controls and cash management and banking relationships?
That makes a lot more sense, but is that really a large addressable market? Is the idea to beat Amex with reporting?
I think the idea is "cash is all the trust we need." It's parallel to Square or Stripe. "Is getting a merchant account really that hard?" Yes, it turns out it is. It's the same thing with credit cards - you shouldn't have to personally guarantee your company's credit.
It also competes directly with the expense market. If everybody can have a controlled company card, why do you need expense software?
That makes a lot more sense, but is that really a large addressable market? Is the idea to beat Amex with reporting?