Expensify Rolls Out Cards, Free Services for SMBs

Expense management software company Expensify rolled out its Free Plan for small and medium-sized businesses (SMBs) on Monday (Oct. 18).

The Portland, Oregon company says the plan gives users free, unlimited access to physical and digital Expensify Cards, which offer up to 2% cash back on purchases for the remainder of 2021 and 1% thereafter.

“Millions of SMBs with antiquated back offices find it daunting to make the jump to classic expense management tools with multi-level approval workflows, custom coding, and so on,” David Barrett, founder and CEO of Expensify, said in a news release.

“So we’re launching an entirely new Free Plan that fills the gap and provides all the back-office functionality a small business needs, at no cost whatsoever. There’s also an easy upgrade path for companies to unlock as they grow with us at their own pace.”

In addition to the cards, the free plan offers next-day ACH reimbursements for cash expenses,

SmartScan on unlimited receipts, invoicing and bill processing with online bank transfer and credit card collections and chat-based corporate travel booking.

Read more: Expensify Submits Draft IPO Registration

Last year, Expensify launched new travel tools with its Concierge Travel virtual assistant. The program helps business travelers make reservations with access to an assortment of Global Rescue services, including security and medical advice, emergency transportation to medical facilities and field rescue.

People visiting other countries get access to a destination report including information about the location, security and wellness assessments, and requirements for those going into and leaving various destinations. They can also get travel summary reports letting them know the timing and location of staffer trips.

Along with the new Free Plan, Expensify also revealed that members on its paid plans can get up to 4% cash back on Expensify Card purchases through the rest of the year (up to 2% thereafter).

In May, Expensify revealed it submitted a draft registration statement to the U.S. Securities and Exchange Commission (SEC) for an initial public offering (IPO).