Espresso: Teampay Raises Another $47M for its All-in-One Spend Management Platform and Corporate Card

As your team scales, managing employee spending becomes another one of those inevitable things that you now need to add to your roster of growing responsibilities. Simply, handing your corporate card to your employees may not be the most ideal situation from a corporate governance perspective. Remote workforces have only complicated tracking expenditures as well. Teampay is an all-in-one cloud-based spend management platform for companies to manage employee expenses, providing unprecedented visibility to finance teams. The platform simplifies a number of different functionalities including automation, centralization, real-time tracking, permissioning, and virtual card issuance. Teampay is built with integrations with some of the most popular productivity and accounting tools including Slack, NetSuite, QuickBooks, Xero, and Sage allowing its users to connect with their existing technology stacks without any added friction. The company has recently powered with Mastercard to offer a premium corporate card experience called Catalyst that focuses not only on spend management but also offers rewards and benefits to rival other corporate cards. AlleyWatch caught up with Teampay Founder and CEO Andrew Hoag to learn more about the business, the company's strategic plans, latest round of funding, which brings the total equity funding raised to $68M, and much, much more...