Visa is teaming with Bento for Business, a US small and medium-sized business (SMB) spend management firm based in Chicago, to enhance cash flow management for SMB customers.

The collaboration will see Visa’s business debit card integrated into the Bento for Business platform. Current holders of Visa business debit cards will be given access to Bento’s financial solutions, including expense and spend management, budgeting and bookkeeping functionality. The companies said the integration provides real-time visibility into cash flow and control over spend before purchases are made.

Priority sector

“The SMB segment is a priority for Visa, and we continue to be an advocate for the 30 million SMBs in the United States,” said its global head of small and medium enterprises, David Simon. “The Bento solution will evolve how Visa Business cardholders and merchants manage expenses and gain insights into their cash flow and financial management activities.”

Bento for Business’ CEO, Farhan Ahmad said 2018 brought “unparalleled growth and exceptional innovation” for the company, including the launch of a range of small business financial tools, including virtual card management and open application programming interfaces (APIs), to facilitate integration with other partners.

“In 2019 and beyond, we will continue to expand our financial controls and cashless workflows for SMBs with a vision to deliver an all-in-one working capital management solution,” he added.

Bento for Business was established in 2013 and last June raised $9 million in growth stage funding in a round led by Edison Partners. “There is a massive latent demand among employers to seize full control over every dollar they spend and stop non-authorised employee spending before profit-killing purchases can happen,” said Edison Partners general partner Michael Kopelman at the time.