Commercial or Corporate Card Market – Global Industry Insights, Trends, Outlook, and Opportunity Analysis

Commercial or corporate card is a credit card issued by employers for their employees to make purchases on behalf of the company. Commercial card is generally issued by a retailer and bears the name of both retailer and Credit Card Company. Commercial cards are frequently used by companies to keep track of expenses in order to analyze more closely the effects on the company budget. Commercial cards for business include both Visa and MasterCard, which offers special credit cards designed to manage the employees’ spending and streamline their purchasing process. Commercial card offers flexibility to set employee-spending limits and restrict card usage for specific types of purchases. For instance, a card holder might be authorized to use the card only for purchasing office supplies.

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Increasing Demand for Cashless Purchasing is one of the Major Drivers Propelling Growth of the Commercial or Corporate Card Market

Commercial or corporate cards help corporates to manage cash and vendors more effectively through detailed reporting on purchases through a wide range of billing and payment options for commercial card activity. The cost of commercial card usage is typically borne by corporates accepting commercial card payments. For instance, according to National Automated Clearing House Association’s (NACHA) analysis in 2015, issuers such as corporations, investment trusts, or foreign governments earned over US$ 7 to US$ 8 billion in interchange revenue by processing US$ 428 billion of commercial card payments, out of which around 80% of interchange revenue from foreign government is shared back with corporates using commercial cards.

Moreover, growing popularity of these among consumers, as it allows short-term loan instantly, which is the major factor for consumers to choose corporate card over cash. Corporate card companies offer incentives to card holders, such as points and rewards that could be redeemed in the form of airline tickets or products. These factors boosts corporate card transaction in the corporate or commercial card market.

Online Banking Application is one of the Major Restraints Hindering Growth of Commercial or Corporate Card Market

Rising online banking applications lowers commercial card popularity as it is convenient to make payments and track balance using mobile applications. For instance, in India Unified Payment Interface (UPI) has grabbed major market share. According to Reserve Bank of India data, transactions via UPI reached half the value of debit and credit cards swiped at stores in India till March 2018.

Global Commercial or Corporate Card: Regional Insights

On the basis of region, the global corporate or commercial card market is segmented into North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.

North America was the dominant region in commercial or corporate card market in 2017 and is expected to remain as the leading region throughout the forecast period. This is owing to growing customer base for credit cards and large number of commercial businesses in the region. According to coherent Market Insights, the purchase volume of commercial cards issued by selected credit card companies in the United States in 2015 and a projection therefore for 2020. It was found that the purchase volume of the commercial cards issued by Visa amounted to 2.76 trillion U.S. dollars in 2015.

Asia Pacific is expected to exhibit high growth over the forecast period. This is owing to growing BSFI sector in the region. For instance, according to Coherent Market Insights, banks in the emerging economies of Asia Pacific region are forecasted to maintain an asset growth of 13% CAGR during the period 2014-2019, while GDP per capita is forecasted to exhibit a CAGR of 5.1% during this period.

Global Commercial or Corporate Card: Competitive Landscape

Some of the key players operating in the global commercial or corporate card market include AirPlus International, Amazon.com, Inc., American Express Company, Bank of America Corporation, Union Pay, Citigroup Inc. , FleetCor Technologies Inc., JCB Co., Ltd, JPMorgan Chase & Co., MasterCard, PayPal Holdings, Inc., U.S. Bank, Universal Air Travel Plan Inc., Visa Inc., and WEX Inc.

Global Commercial or Corporate Card Market: Taxonomy

  • On the basis of product type
    • Purchase Cards
    • Business Cards
    • Travel and Entertainment Cards
    • Others
  • On the basis of type
    • Open-Loop cards
    • Closed-Loop cards
  • On basis of application
    • Small Business Card
    • Corporate Card
  • On the basis of region
    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East
    • Africa

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Samsara bank $100 million at a valuation of $3.6 billion for the internet connected sensors

Sensor data platform Samsara has come out and confirmed that they will finally be closing their investment round because they have successfully able to raise the money that they were planning to.

Samsara was planning to raise a total of $100 million from the market and it was able to do so at a valuation of $3.6 billion. This money, which was raised by Samsara was from the existing investor Andreessen Horowits and General Catalyst. The news about the investment getting closed was at first reported by Cheddar which was found with the state of Delaware on the 21st of December 2018.

Samsara was able to double up their valuation with this round of investment. Samsara is now looking for growth and this is why it was very important for them to raise money from the market. Samsara has been working on the internet connected sensors for a quite a long period of time. They have almost been able to make sure that the prototype is working perfectly. Once they have successfully able to complete the prototype, they are now looking to start the production on a large scale. This is the reason they decided to raise a total of $100 million so that they are able to start their production and also increase the number of employees working.

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The main focus of the company will be to start production on large scale, but they will also be focusing on taking the business to a global market and setting offices in different parts of the country.

Samsara is a company which was started in the year 2015 and was working to make sure that they are able to support logistics, transportation, energy, food, and manufacturing industries with the internet which is connected by the sensor system. They also made sure to collect the data so that they were able to make their program much more efficient.

Sanjit Biswas, who is basically the co-founder of Samsara has also launched a company called Meraki in the market previously. That company was purchased by Cisco at a price of $1.2 billion in the year 2012. Samsara has been very much promising at the time it has been in the market. The investors were very much happy to invest money in the company and double up the valuation.

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Tradeshift acquires Babelway a cloud integration technology

Tradeshift which is basically a company based in San Francisco and is known all over the world for its CA-based payments.

Tradeshift will finally be acquiring Babelway, which is basically a cloud integration and technology platform. The deal, which has been finalized between the two companies is not yet disclosed by any of the companies publicly. This is a company which is headed by Francois Van Uffelen.

Babel way has successfully able to provide a lot of companies with a standardized way of large businesses to connect with each other and also join forces with different Tradeshift business commerce platform. This is a platform which basically helps all the businesses all over the world to connect to the global market. It is disclosed that Babel Technology will soon be offered as Tradeshift Links in the coming year.

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The main work of Tradeshift is to allow all the banks and other application providers which are third parties to connect with help of Tradeshift network so that they are able to find solutions to different financial problems. There are options of early payment and services of the system which are very much useful in a B2B buying, paying as well as selling.

Tradeshift is a company which is now headed by Christian Lanng, who helps to provide a supply chain payment solution and marketplace which basically allows all the suppliers and the buyers to digitize all the transactions and trade in the supply chain application.

There have been more than 200 companies in the global market, which are spread over 190 countries are using this application called Tradeshift. Tradeshift is known to process about a trillion United States Dollars in transaction value.

According to Tradeshift, the B2B commerce should be connected so that the platform becomes very much flexible and digital. Tradeshift is very much simple and can be used very easily. It takes a very little learning to get access to this application. This company has seen a big growth in recent years.

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Since the popularity of the company has increased, finding an investor was very much simpler. Once the investment of Series D was completed successfully, they realized that it was time for expansion and now they are spending money to grow their business application.

SolderWorks declares acquisition of a Denver-based consulting firm

SolderWorks Limited Liability Company has finally revealed that they will be acquiring a company which works on consulting in Denver.

The company, which has been acquired is SSM, also known as Smart Source Management. This is basically a Denver based consulting firm which was founded in the year 2006 and has a very strong base of clients in the market.

The company, which has been acquired has a good name in the market and is known for its work. Rich Waish, the founder of SolderWorks has come out and said that Hardware is the latest software and this is why they have decided to invest in all the latest technology.

All the understanding of the technology is very much critical and this is why SolderWorks will be hiring a lot of new people who are experts in all the latest technologies. SolderWorks made a good decision of acquiring this company because there were a few companies in line who were planning to make this purchase.

In the coming years, SolderWorks will be working with all the consulting firms so that they are able to understand how it works and how they can really understand the business and help it to grow further.

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SolderWorks are now in a lookout to invest their money and acquire a lot of other companies and grow their brand. They have been working on deploying all their resources to scout other companies which will be perfect for them to invest their money. This is one industry which is very much critical because this helps all the small companies grow and acquire all the companies which are not able to function properly on its own.

SolderWorks Limited Liability Company is basically an art innovation lab, which is designed in such a way that it accelerates the ideas to form a product or service. SolderWorks is known for a new wave of technology that they use so that they are able to provide all the users with an ecosystem which will help them make their life easy.

At SolderWorks, a lot of new technologies are developed on a day to day basis. The Denver based technology company is really looking forward to being a part of SolderWorks because of the platform that they will be able to get to build all their technologies because of Solderworks.

Also Read: Dolls Kill raises up to $15 million to fund their edgy brand made for misfits

Dolls Kill raises up to $15 million to fund their edgy brand made for misfits

When Boddy Farahi met with Shaudi Lynn at a rave party in Los Angeles, he was instantly drawn towards fashion and the sense of style Lynn had. At that time, Lynn was basically a DJ and she was very much amazed at the business mind of Farahi, who is popularly known for selling a broadcast monitoring service called the Multi vision.

According to Farahi, he was instantly in love with Lynn and this is the reason they eventually ended up getting married. Now after marriage, both of them decided that they will be trying their hands to start a business together and name it Dolls Kill. The vision of the power couple was to start selling small items and eventually evolving into a big brand.

They started to expand their business and created an online boutique for themselves in the market. The business became very much popular and now they are looking for an investment of $15 million in the market. They generally sell clothes and accessories from companies like Motel, Kill star, and Skinny dip which are all United Kingdom-based companies.

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Shoppers like this brand a lot. In the year 2014, Dolls Kill which is basically a company which is based in San Francisco was able to generate total sales of $7.6 million. The sales number was the reason why a lot of venture capitalist firms started showing interest in investing the money in the business.

Maveron was one of the interested investors, which wrote a check of $ 5 million to Dolls Kill. The seven-year-old company Dolls Kill has been successfully able to raise $15 million in a whole new equity funding round and secured an investment of $10.7 million.

The capital which is raised by the company will be used to test out the new online store that they have been working on for quite a long time. They are also planning to open up new stores and they will be investing money on that. They also will like to increase the people working under this brand to grow their business at a faster rate.

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Dolls Kill is a brand which has a lot of similarity to a brand called Nasty Gal which was founded in the year 2006 and is known for making clothes only for the misfits.

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Formant to make an investment of $6 million to solve their problem with distribution

Formant, which is basically a company from San Francisco and is known for its work on robot data management solutions, has been successfully able to secure an investment of $6 million.

The investment was made by Signal Fire. The main aim of Formant now is to use the investment of $6 million to develop its solutions. This start-up is led by Jeff Linnell, who is also the former director of robotics at Google office. Jeff Linnell is known for having a lot of experience in the robotics system designing and this is the reason why he decided to open his own startup company.

The CTO of Formant is Anthony Jules, who is also an expert in the field of robotics and machine learning and has worked for Redwood Robotics for quite a long period of time.

The company Formant is known in the global market for creating the first robot data management solution which is basically aimed for providing businesses with different architecture and tools which are needed to gather complex feedback from the robotics fleet.

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Formant application is now in the stealth mode and the main aim of the application is to operate the business in which the machines and the humans can work together. Secure cloud infrastructure is being set by the company to make sure that all the data of these machines are kept in a secure manner.

People are very much excited with how Formant is going to make everything possible. Formant came to the market with a dream and now they are eventually trying to convert their dream into reality. A lot of people are not very sure about what Formant has been working on because the vision they have is something an ordinary person won’t be able to understand.

The dream of creating a system where machines will be working with humans at a level where both of them will be able to help each other is finally about to come true. With the investment they received, it has been well understood that people have got faith in this brand and they really want them to succeed.

The autonomous machinery will be growing in the market at a very fast rate in recent years. People will start depending more on all the autonomous machines in their daily life.

Formant is now working on something which will definitely make things a lot easier for people. Formant was in urgent need of some capital so that they were able to increase their team and this is why they decided to take investment for other firms.

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According to the Chief executing officer of Formant, this investment will help them to push the technology faster and they will be able to reach their goal faster with the help of a team full of competent employees. It is expected that Formant will be doubling up their employee’s strength in just a couple of months from now.

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AvantStay raises $5 million of investment from Zeno Ventures

AvantStay, which is basically a Los Angeles based hospitality brand, focuses mainly on group travels was successfully able to raise $5 million in funding from Zeno Ventures from their Series A.

The Series A investment of AvantStay was led by Bullpen Capitals with a collaboration of Conviviality Ventures, Presidio Bay Ventures, Abstract Ventures, F-Prime Capital, and Zero Ventures. The reason that AvantStay was looking for investment was to successfully able to spend their funds on operational technology infrastructure. They are also looking to expand in markets which are still not untapped.

AvantStay is now trying to grow the number of properties which they have under them. Now, they have more than 200 rooms available and according to them, they will be having more than 1000 rooms by the mid of 2019.

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AvantStay was co-founded by Doetsch and Breuner Reuben. The main focus of AvantStay is to provide good travel experiences to people with some premium properties designed with a lot of technology. Each of the properties of AvantStay is handpicked and will help to cater to the needs of different groups of customers. Most of the properties have in-house games available to make things interesting for the customers.

Doetsch and Breuner Reuben, the co-founders of AvantStay, are experts as serial entrepreneurs and they bring together a lot of experience in fields like technology, real estate, and hospitality.

AvantStay is now maintaining more than 60 vacation properties all across the United States of America. There are more than 300 rooms available there. AvantStay also maintains a very good relationship with Airbnb so that they are able to stay ahead in the market with all the technological changes.

Avant Stay is responsible for all the short-term rentals and they control the whole experience of the customer all over their stay. They focus greatly on the quality of the guest stay and this is why AvantStay has become very much popular among their customers.

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AvantStay is able to deliver a hotel level comfort to their customers in a rented property at a very affordable cost. A lot of people have already used AvantStay in 2018 and after they have received their first round of investment, they are ready to grow their business extensively.

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Graph core values itself at $1.7 billion after successfully raising $200 million in Series D

Graph core, which is basically a United Kingdom-based Artificial Intelligence chipmaker, has successfully able to raise $200 million in their Series D. After this investment, it has valued itself at $1.7 billion. With the help of this investment, the company has been able to secure a total of $300 million from the market.

The investors of Graph core include Atomico and Sofina and also Merlan Global investors. Merian Chrysalis Investment Company was also included in this round of investment. Other investors of the Series D of Graph Core are BMW iVentures, Amadeus Capital Partners, Dell Technologies, Pitango, Sequoia Capital, Foundation Capital, Draper Espirit, C4 Ventures, Robert Bosch Venture Capital, Microsoft, and many more.

Graph core is now planning to invest the money that they collected to execute the roadmap and also expand their presence in the global market. They are also looking forward to accelerating the scaling of their products.

Graph core is a startup, which was first founded in the year 2016 by Nigel Tower. Since then, they have been working to build a new software which will enhance machine learning and artificial intelligence. Customers have been shipping the first product to all the customers who have applied for early access.

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Graph core generated their first revenue in the month of November. It took them two years to generate revenue. The IPU processor, which has been designed by the company specializes in machine learning and training. The office of graph core is located in Oslo, Norway, and Palo Alto United States of America. They also have offices in London, United Kingdom, and Beijing, China.

Graph core has come out and announced that the high volume production is ramping up and it will soon be able to meet the demand. They have increased their speed in production and they are claiming that with help of their machine and chipset, the speed can increase from 10x to 100x easily depending on the chipset hardware and the software of the machine.

The competition of artificial intelligence in the market is increasing drastically. There is an array of startups which are putting their full effort into the technology of machine learning and artificial intelligence. Some of the chipset giants like Intel and NVIDIA are also working on this technology to develop their own interface.

The market is booming with all the software and hardware which could work with artificial intelligence and machine learning. A lot of startups are working on these technologies making the market very competitive. This is why it is very much important for Graph core to scale up their production and hit the market to stay ahead in the race.

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Graph core is now trying out different architecture sets so that they are able to see how they can increase and enhance the experience of machine learning and artificial intelligence in all the machines.

Ada nets to receive a funding of $19 million in Series A

Ada was finally able to successfully raise an investment of $19 million in their Series A so that they are able to grow their chatbot which is designed for a better customer service experience.

The main focus of Ada is to build a chatbot which is powered by Artificial intelligence so that people can experience better customer support. It was announced by the company that they have finally able to receive an investment of $19 million on their Series A.

According to the company, this investment will help them to reach their goal faster and in an efficient manner. The company will be focusing on doubling down their employees to hit the market soon. This is the perfect time for expansion and launching new products for the company.

Chatbots are specifically a buzz for quite a long period of time. People used to talk about them, but none of the technology companies tried to develop the idea. After the build-up of chatbot on initial days, the company started working hard to achieve the dream of making the perfect chatbot. The best thing about chatbot in a service industry is that the actions will be performed in a much faster and efficient manner.

All the companies are looking for ways through which they can enhance their customer experience and what is the better way to do so than using chatbots. A lot of companies are now looking to invest in augmented reality as that will be the next best thing.  People have also made sure to invest in artificial intelligence which will ease their work a lot.

According to investors, the Ada has received a huge amount of fund in their series A investment and it is expected that they will be able to provide a high return on their investment. This company is working really hard to build a good team so that they are able to work in a much more efficient manner.

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They are also hiring non-technical people to build and manage a team in their company. The plan of Ada is to grow the startup into a business with the help of their first investment. Ada is now trying to build a fully automated customer service experience which is also known as ACX. The whole thing will be powered by Artificial intelligence.

The main aim of Ada now is to work on their current products and bring them into the market as soon as possible. This Toronto based startup was launched in the year 2016 and in the next couple of months, they will end up doubling up their workforce. The company has 70 employees right now and by next year they will be trying to get to a total of 140 employees. 2018 was a big year for them because they were successfully able to get an investment of $19 million.