Teampay workflow layer for enterprise
Andrew Hoag, CEO of Teampay on building expense management for the enterprise
These bank and issuer deals matter because they remove one of the main blockers to winning larger accounts, which is that the software has to fit the card and banking setup the customer already has. In bigger companies, treasury, rebates, lending relationships, and card contracts are often locked in before expense software is chosen. Teampay is positioning itself as the workflow layer on top, so it can sell policy controls, approvals, and reconciliation without asking the customer to rip out an incumbent bank relationship.
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The practical difference in mid market and enterprise is not just more employees, it is more rules. Teampay describes a break point around 100 to 150 employees, when shared cards and reimbursement stop scaling and buyers need approvals by department, budget owner, legal, security, entity, and currency, plus deep ERP and HR integrations.
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This is why issuer partnerships expand access beyond pure distribution. A large company may like the software but still be required to stay on a specific bank because of rebates, financing, or treasury relationships. Teampay can enter anyway if it supports that issuer, while the issuer gets a more differentiated card product than simple cash back.
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The broader market split is between card first products that lead with free spend and interchange, and software first products that sell control. Airbase also targets 100 plus employee companies with SaaS plus interchange, while Brex and Ramp used free cards to land quickly and then moved up into broader finance software.
Going forward, the winners in spend management are likely to look less like card programs and more like control systems that sit across cards, AP, procurement, and accounting. As more companies want to keep their existing bank relationships while modernizing finance workflows, rails agnostic software will have a cleaner path into larger and more complex accounts.