PEX Card
PEX Card is a New York-based spend management platform founded in 2007 that issues Visa commercial cards with AI-powered receipt matching, customizable spend controls, and 50+ accounting integrations. It serves 10,000+ customers across construction, nonprofit, media, and professional services verticals.
- Company typePrivate
- Founded2007
- HeadquartersNew York, United States
- Headcount101–250
- GTM typeB2B
- OfferingSoftware
What PEX Card does
PEX Card (legal entity Prepaid Expense Card Solutions, Inc.) is a New York-headquartered, Delaware-incorporated spend management platform founded in 2007 that issues Visa-branded commercial cards through partner banks Fifth Third Bank and The Bancorp Bank. The company operates three core card products — Prepaid Expense (pre-funded cards with customizable spend controls), Credit Expense (a corporate charge card with up to $2M monthly purchasing power and 1% cash back), and Disburse (prepaid cards for grants and incentives) — built on a unified cloud platform with AI-powered receipt matching, auto-coding, automated approval workflows, and granular merchant/MCC/time/location-based spend controls.
PEX monetizes through tiered monthly subscriptions (Base/Core/Pro prepaid tiers at $0/$75/$200 for business and $0/$30/$80 for nonprofit, frequently waived above spending thresholds), per-card and per-ACH usage fees, a $5,000 API connection fee, $5,000 custom card branding, a one-time $399.95 Disburse setup fee, and interchange revenue (which funds the 1% cash back). Distribution combines a self-serve PLG funnel at start.pexcard.com, direct enterprise sales with dedicated CSMs, a partner program targeting accounting firms and ISVs, a developer portal/API, and an OEM/white-label channel exemplified by the 2025 DATABASICS partnership. The platform integrates with 50+ accounting, ERP, and vertical-specific systems at no additional cost, including QuickBooks, NetSuite, Sage Intacct, SAP Concur, Xero, Blackbaud, Procore, and Aplos.
The company serves 10,000+ customers and has issued 10M+ cards managing more than $16B in spend across verticals including construction and industrial, nonprofit and faith organizations, media and entertainment, and professional services, with named enterprise logos such as Live Nation, SERVPRO, TriStar Pictures, Condé Nast, and Tory Burch. PEX is a private company that has raised approximately $19.6M in cumulative funding across rounds from 2010 to 2026, with a March 2026 SEC Form D filing indicating an active $10.7M exempt offering ($9.7M sold). Toffer Grant serves as founder and CEO.
PEX Card firmographics
Firmographics- Name
- PEX Card
- Legal name
- Prepaid Expense Card Solutions, Inc.
- Website
- https://pexcard.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- PEX Card is a New York-based spend management platform founded in 2007 that issues Visa commercial cards with AI-powered receipt matching, customizable spend controls, and 50+ accounting integrations. It serves 10,000+ customers across construction, nonprofit, media, and professional services verticals.
- Ownership category
- akta.pro rank
PEX Card industry classification
Industry- Product category
- Corporate Spend Management
- NAICS
- Credit Card Issuing (522210), Activities Related to Credit Intermediation (5223)
- SIC
- Miscellaneous Business Credit Institution (6159), Finance Services (6199)
- akta.pro primary industry
- Prepaid Card Program Managers & Issuers (BIN Sponsors) (FSAMANAK)
- akta.pro secondary industries
- Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Virtual Card Issuance & Tokenized Corporate Cards (THACAJAA), Open-Loop Prepaid Cards (Network-Branded) (FSAMANAA)
Keywords
Where PEX Card is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
PEX Card business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Subscription Fees: Monthly subscription fees for Prepaid Expense and Disburse products with tiered pricing (Base, Core, Pro for business and nonprofit). Credit Expense has no subscription fees.
- Card Fees: Fees for additional cards beyond free allocation in each tier. Pricing ranges from $0.80 to $8 per card depending on tier and customer type.
- ACH Transfer Fees: Fees for employee reimbursements and bill pay via ACH transfer. First tier allocations are free, then $1 per ACH payment.
- API Access Fee: $5,000 fee for PEX API connection for enterprise customers requiring custom integrations.
- Interchange Revenue: Earn 1% cash back on qualifying purchases returned to customers, funded by interchange revenue from merchant transactions.
- Disburse Setup Fee: One-time $399.95 setup fee for Disburse program for grants and employee incentives.
- Custom Card Branding: Additional fee of $5,000 for custom cards and card carriers with branded designs.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Prepaid Expense - Base tier with minimal features |
| Subscription | Monthly | Prepaid Expense - Core tier with moderate features |
| Subscription | Monthly | Prepaid Expense - Pro tier with full features |
| Subscription | Monthly | Credit Expense - No subscription corporate charge card |
| One time/ perpetual license | Pay-as-you-go | Disburse - For grants and employee incentives |
| Subscription | Monthly | Nonprofit Prepaid - Base tier |
| Subscription | Monthly | Nonprofit Prepaid - Core tier |
| Subscription | Monthly | Nonprofit Prepaid - Pro tier |
Go-to-market motion3 records
Distribution channels6 records
Marketing channels9 records
PEX Card product offering
Product offeringCore offering
PEX Card issues corporate prepaid Visa cards (and a credit expense card) that businesses give to employees, contractors, or vendors to make purchases and manage operational spending. The cards are paired with a SaaS spend management platform that controls where, when, and how the cards can be used, automates receipt capture and expense coding, and supports disbursements (PEX Disburse), bill payment (PEX Bill Pay), and virtual card issuance. An open API and accounting-software integrations enable businesses and partners to embed card issuance and sync transactions directly into their back-office systems.
Product overview
PEX Card is a spend management platform offering three core card products (Prepaid Expense, Credit Expense, and Disburse) built on a unified platform with modular capabilities. The platform includes AI-powered features for receipt matching, expense coding, and compliance enforcement. Additional modules include Bill Pay for accounts payable automation, Virtual Cards for vendor control, Spend Controls for policy enforcement, Approval Workflows for automated routing, Reporting for real-time visibility, and a Developer API for custom integrations. All products integrate with 50+ accounting and ERP systems including QuickBooks, NetSuite, SAP Concur, and Xero.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Improves team productivity by up to 25% by automating manual expense tasks
- +6 more outcomes
Companies that use PEX Card
Customer profileNamed customers14 records
Segments7 records
Ideal customer profiles6 records
PEX Card technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration39 records
AI capability6 records
Feature6 records
PEX Card partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core.
- DATABASICScoreDATABASICS announced the launch of the DATABASICS Visa Commercial Card powered by PEX, targeting U.S. customers. This is a white-label/OEM partnership where PEX provides the underlying card infrastructure and spend management platform.
- Fifth Third Bank, N.A.coreFifth Third Bank, N.A., Member FDIC, is one of the issuing banks for PEX Visa Commercial Cards pursuant to a license from Visa U.S.A. Inc.
- The Bancorp Bank, N.A.coreThe Bancorp Bank, N.A., Member FDIC, is the issuing bank for PEX Card products and does not endorse or sponsor the associated products, services or offers from PEX.
- Oracle NetSuitecoreDirect integration with Oracle NetSuite enabling daily sync of purchases and receipts. Track expenses against customers, vendors, departments, locations and classes.
- Intuit QuickBookscoreFeatured integration with QuickBooks Online. Create PEX Vendor cards from QuickBooks and get nightly transaction imports with receipts. Two-way sync with receipt matching.
- SAP ConcurcoreSync PEX transactions into SAP Concur Expense account for better travel expense management. Featured integration used by enterprise customers like Artisan Capital.
- Sage IntacctcoreSync PEX receipts and transactions into Sage Intacct for easier expense management reconciliation. Supports multi-entity tracking.
- XerocoreSync PEX receipts and transactions into Xero for faster expense management and reconciliation.
- AploscoreSync PEX with Aplos to reduce reconciliation for nonprofits and churches. Integration category includes construction, nonprofit, and media.
- BlackbaudcoreSync PEX transactions and allocations to populate Blackbaud Financial Edge journal entries automatically for nonprofit financial tracking.
Scale indicators9 records
Recent moves6 records
Expansion highlights5 records
PEX Card competitors and assessment
Company assessmentDirect peers
- Emburse: Emburse offers expense management, corporate cards, and AP automation with strong SAP Concur integration — overlapping with PEX's enterprise and platform offering and serving similar finance teams.
- Ramp: Ramp offers corporate cards with automated expense management, bill pay, and accounting integrations. It targets the same SMB and mid-market finance buyer as PEX and competes head-to-head on integrations, AI automation, and cash-back rewards.
- Spendesk: Spendesk combines prepaid corporate cards with purchase-order-driven expense management and approval workflows, primarily serving European SMB and mid-market — overlapping with PEX's product model and target customer profile.
- Brex: Brex issues corporate credit and debit cards with spend controls, bill pay, and expense management aimed at startups and SMBs through enterprise. It directly competes with PEX's Credit Expense and platform in the corporate card + spend management category.
- Bento for Business: Bento for Business provides prepaid business debit cards with spend controls aimed at SMBs. It is the closest direct competitor to PEX Prepaid Expense for small businesses seeking no-credit-check corporate cards.
- Airbase: Airbase provides corporate cards, AP automation, and spend management with deep approval workflows. It targets mid-market and enterprise customers in a comparable positioning to PEX's mid-market and enterprise segments.
- BILL (Divvy): BILL's Divvy product combines corporate cards with spend management and AP automation, closely overlapping PEX's combined card + Bill Pay offering for SMB and mid-market customers.
Emerging players
- Wallester: Wallester offers white-label Visa card issuing and expense management APIs for businesses across Europe. It is comparable to PEX's emerging OEM/embedded card-issuing business model (e.g., DATABASICS partnership), though it operates primarily in Europe.
Broad incumbents
- Marqeta: Marqeta is a card-issuing platform providing API-based card processing for fintechs and corporates. PEX uses similar card-issuing infrastructure (via Fifth Third and Bancorp), and Marqeta's customers often overlap with the type of embedded card programs PEX is building via OEM (e.g., DATABASICS).
- Corpay (formerly FLEETCOR): Corpay is a large, established corporate payments provider covering fuel cards, AP automation, and virtual cards. It competes broadly with PEX in the corporate payments space but as a much larger incumbent with a wider portfolio.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
PEX Card social profiles
Digital presencePEX Card compliance and trust
Trust signalCompliance4 records
PEX Card financial estimates
Financial estimateRevenue estimate
Valuation estimate
PEX Card leadership team
Management profileNumber of profiles
Profiles1 record
PEX Card funding detail
Funding detailFunding overview
Funding rounds7 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PEX Card M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PEX Card
What does PEX Card do?
PEX Card issues corporate prepaid Visa cards (and a credit expense card) that businesses give to employees, contractors, or vendors to make purchases and manage operational spending. The cards are paired with a SaaS spend management platform that controls where, when, and how the cards can be used, automates receipt capture and expense coding, and supports disbursements (PEX Disburse), bill payment (PEX Bill Pay), and virtual card issuance. An open API and accounting-software integrations enable businesses and partners to embed card issuance and sync transactions directly into their back-office systems.
Is PEX Card a public or private company?
PEX Card is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PEX Card founded?
PEX Card was founded in 2007. It employs 101 to 250 people.
Where is PEX Card based?
PEX Card is headquartered in New York, United States, in the North America region.
How does PEX Card make money?
Seven revenue lines are on record. Subscription Fees are the primary driver. The others are card Fees, ACH Transfer Fees, API Access Fee, interchange Revenue, disburse Setup Fee and custom Card Branding.
Who are PEX Card's main competitors?
Direct peers on record are Emburse, Ramp, Spendesk, Brex, Bento for Business, Airbase and BILL (Divvy). Wallester is listed as an emerging player. Broad incumbents are Marqeta and Corpay (formerly FLEETCOR).
Does PEX Card have an API?
Yes. The PEX API enables developers to fully automate administrative functions including adding/editing/deleting administrators, issuing/activating/deactivating/funding/defunding cards, and creating/retrieving/canceling ACH transfers. It allows real-time purchase authorization through webhooks, bulk spending rules enforcement, defining spending rules for specific transactions, and configuring PEX APIs to contact external systems for purchase approvals. Developers can retrieve and report on transactions by card, group, profit center, and more. The API has a fee of $5,000 for connection. Developer documentation is at developer.pexcard.com.
What industry is PEX Card in?
PEX Card's product category is Corporate Spend Management. Its primary akta.pro industry code is FSAMANAK, Prepaid Card Program Managers & Issuers (BIN Sponsors), with a secondary code of FSAGALAC, Embedded Card Issuing & Card-as-a-Service. Its NAICS code is 522210 and its SIC code is 6159.