Prepaid Expense Card Solutions Secures $3.2M in Series B Funding

Prepaid Expense Card Solutions, Inc., a New York City-based provider of expense card solution, has secured $3.2m in Series B funding.

The round was led by existing investor iNovia Capital and new investor Bluff Point Associates, with participation from Augury Capital and other private investors.

Led by Toffer Grant, Founder and CEO, and Michael Noles, CMO, PEX Card provides an expense card solution that small and mid-sized businesses use to enable and control employee expenditure of company funds.

The company intends to use the capital to accelerate new customer sales growth of its PEX Visa® Prepaid Card, issued by the Bancorp Bank; Member FDIC, as well as to continue development of new features and mobile tools.



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