Marqeta Partners with Found for Enhanced Business Solutions
Marqeta Collaborates with Found to Enhance SMB Financial Management
Marqeta (NASDAQ: MQ), a global leader in modern card issuing solutions, is taking significant steps to empower small and self-employed businesses. By partnering with Found, an innovative financial technology platform, Marqeta aims to simplify expense management for its users. This collaboration presents an exciting opportunity for entrepreneurs looking for sophisticated banking capabilities tailored to their unique needs.
Finding a Solution for Small Business Challenges
The traditional banking system often overlooks small to medium-sized businesses (SMBs), leaving them with limited options for financial management. This gap is crucial as a staggering percentage of SMBs, that is 82%, face failures primarily due to cash flow challenges. Recognizing this, Found developed a robust commercial card solution leveraging Marqeta's advanced platform to address these issues directly and efficiently.
Streamlined Capabilities with Found and Marqeta
By integrating Marqeta's technology, Found’s users can access a tailored expense management platform that provides easy tracking and managing of expenses in real-time. The combination of customized physical and virtual cards allows entrepreneurs to establish spending limits, control cash flow, and gain better insight into their financial health. Such features are pivotal in helping business owners make informed financial decisions smoothly.
A Commitment to Empowering the Self-Employed
Found is focused on enhancing the financial wellness of self-employed individuals. Their all-in-one banking platform, now enhanced by Marqeta’s adaptable solutions, uniquely positions them to meet the needs of small business owners. According to Found’s CEO, Lauren Myrick, this partnership allows them "to create personalized card solutions that simplify expense management, giving our customers more time to focus on their businesses and boost profitability.”
The Flexible Nature of Marqeta’s Solutions
Marqeta’s platform is not only robust but also flexible, catering specifically to the varied requirements of different businesses. This flexibility means companies can monitor and control spend on cards effectively, adjusting settings according to their operational needs. Businesses benefit from enhanced visibility into their expenditure, which aids in achieving regulatory compliance while streamlining financial management processes.
Encouraging Growth within the Self-Employment Sector
As the economy shifts towards more freelance and self-employed individuals, companies like Found, with Marqeta's support, are at the forefront of this movement. Todd Pollak, Marqeta’s Chief Revenue Officer, emphasized the vital role of innovators in this space by stating, "Our partnership with Found is another example of how we're helping to open access to working capital for SMBs and enable financial management that stimulates business growth." This collaborative effort is pivotal in propelling the self-employed economy forward.
About Marqeta and Found
Marqeta (NASDAQ: MQ) has revolutionized the way companies build and implement financial solutions. Their platform offers businesses the ability to create embedded financial services that enhance user experiences and promote growth. With a demonstrated ability to process over $200 billion in annual payments volume, Marqeta continues to expand its reach globally.
Founded with a mission to simplify self-employment, Found is not a bank but a fintech company that offers vital tools for business management. Through integrated solutions for bookkeeping, invoicing, and tax management, Found empowers small business owners and self-employed professionals to thrive.
Frequently Asked Questions
What is the main purpose of the Marqeta and Found partnership?
The partnership aims to enhance financial management solutions for SMBs and self-employed professionals by providing advanced expense management tools.
How does Found support small business owners?
Found offers an integrated banking solution combining business banking with bookkeeping, invoicing, and tax tools designed specifically for the self-employed and small business owners.
What are the benefits of using Marqeta's platform?
Marqeta's platform allows businesses to customize their financial solutions, control spending, and gain real-time insights into their expenses, ensuring compliance and efficiency.
Why is effective expense management crucial for SMBs?
Effective expense management helps small businesses maintain cash flow, avoid financial pitfalls, and improve overall business health, which is essential for growth and stability.
What role does technology play in modern financial management?
Technology facilitates streamlined financial operations, enhances user experiences, and provides real-time data insights, which are vital for making informed business decisions.
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