Expensify, a FinTech company known for its comprehensive financial management super app, has announced a significant update to its Collect plan pricing, aimed at increasing accessibility for small and medium-sized businesses (SMBs).
The pricing overhaul is part of Expensify’s strategy to better support SMBs, a segment often overlooked by competitors prioritising enterprise accounts, according to FF News.
The company aims to remove the financial barriers and complexities typically associated with corporate financial management tools, making it easier for smaller teams to adopt professional-grade solutions.
Expensify, headquartered in the United States, offers a platform that combines expense tracking, travel booking, team chat, and corporate card management in a single app.
The platform is designed to simplify financial workflows for businesses of all sizes, enhancing both transparency and efficiency.
The newly priced Collect plan is now available at a flat rate of $5 per member per month, offering full access to all core features of the app.
This includes capabilities for tracking expenses, issuing and managing corporate cards, booking travel, and facilitating team communication. The flat-rate pricing eliminates complex tiered structures or usage-based billing, promoting ease of adoption and financial predictability.
Expensify has ensured the pricing is locally adjusted for international markets, with equivalent rates set at £5 in the UK, $8 AUD in Australia, and $9 NZD in New Zealand. This uniform approach reinforces the company’s commitment to global accessibility and fairness.
With this update, Expensify anticipates increased traction among SMBs, a demographic that the company believes has been under-appreciated within the FinTech space.
The company expects the new pricing model to serve as a catalyst for growth, especially in markets where competitors have yet to make a significant impact.
Expensify chief product officer Jason Mills said, “The SMB market has long been overlooked by competitors focused on enterprise sales. Expensify’s model empowers small teams to get started easily, and now, with simplified, predictable pricing, we’re making it even easier for SMBs to manage their finances without breaking the bank.”
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