Bento for Business, a San Francisco, CA- and Chicago, IL-based provider of financial management solutions for small and midsize businesses, raised $9.0m in funding.
The round was led by Edison Partners with participation from existing investor Comcast Ventures and new investor MissionOG.
The company intends to use the funds to accelerate talent expansion in marketing and engineering and development of its suite across payments, spend management and business banking.
Led by Farhan Ahmad, CEO and founder, Bento for Business provides a small and midsize business financial management and banking products suite. The company’s card-based digital spend management platform enables businesses to control where, when and how much employees spend at the point of sale—prior to purchase—to prevent unauthorized expenses and bring direct benefit to their bottom lines. Additionally, with smart workflow solutions like receipt uploads and automatic sync with accounting software like QuickBooks, Bento eliminates the need for expense reports.
Bento also offers an open API, virtual and debit cards, and white label capability for co-brand partners, banks, processors and payment networks.
The company recently added new partnerships with global cash management & logistics provider The Brink’s Company, global payments processor i2c and payment-card issuer The Bancorp Bank.