Bento for Business Closes $9M for Card-Based Spend Management

Bento for Business, a financial management platform that provides cloud-based spend management through prepaid business debit cards, closed a $9 million funding round in late June 2018. The company's platform enables businesses to issue and control employee spending through bank-issued prepaid Visa cards with customizable spending limits and category restrictions. Bento for Business represents an embedded finance model where card issuance and banking infrastructure are delivered through a software interface designed for business expense management.

The platform targets small and medium-sized businesses seeking better visibility and control over company spending without traditional corporate card programs. The funding was intended to accelerate product development and customer acquisition. By embedding bank-issued card functionality into a SaaS spend management tool, Bento for Business exemplified the growing trend of non-bank companies delivering financial products through BaaS partnerships.