Emburse
Also a provider — view Emburse’s profile →“Can an enterprise expense management incumbent successfully expand downmarket into SMB spend management while monetizing via interchange and embedded payment rails?”
Founded2015
HQDallas, TX, United States
FoundersPeter Lai
Total raised$170.1M
Latest roundLeveraged Recapitalization
IndustryHorizontal SaaS / Spend Management
The story
Founded in 2015 as a prepaid corporate debit card issuance platform aimed at startups, Emburse evolved through acquisitions (including Certify) into a full-stack travel and expense management suite serving enterprise customers. In 2022 it pivoted downmarket with Emburse Spend, an interchange-based SMB product competing with Brex and Ramp. The company is now backed by private equity and positions itself as an all-in-one spend management and payment automation platform, embedding global reimbursements, corporate cards, and B2B payment rails into a unified workflow.
Last 12 months
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Product timeline
2015
Emburse launched at TechCrunch Startup Battlefield, offering businesses prepaid corporate debit card issuance for one-time or limited expense use cases.· card
2016
Opened prepaid card issuance via API to third-party developers, enabling integrations with tools like Slack to issue cards programmatically.· card
2022
Launched Emburse Spend, targeting SMBs with an interchange-fee-based expense management product to compete directly with Brex and Ramp.· pivot
2022
Reached approximately $200M ARR and 12 million users, primarily serving enterprise customers competing with Concur and Expensify.· banking
The stack
6 layers disclosed in Emburse’s embedded-finance stack
Payments / PSP
Money movement
in the full report
Banking / BaaS
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting
in the full report
Accounting gap: none
9 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.