This fintech configures expense cards to block misuse — and investors just backed it with millions [CNBC]
SODEXO S/ADR (SDXAY)
NASDAQ:AMEX Investor Relations:
sodexo.com/home/finance.html
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Source: CNBC
CleverCards, a Dublin-based firm, uses a digital platform linked to configurable expense cards to give companies control over how their employees use their corporate payment cards. According to a 2016 global survey of CFOs by human resources firm Robert Half, employees have made several improper expense report requests including a doggie day spa, taxidermy services, dance classes, a side of beef and even a welder. These requests, though odd, reflect a tough reality for many companies when it comes to corporate expenses: sometimes they can't trust an employees' judgment. CleverCards CEO Kealan Lennon says his platform aims to tackle exactly that. Rather than handing employees corporate credit cards they can go out and use for purchases anywhere in the world, CleverCards allows businesses to deliver prepaid cards that can be configured to only be used by certain members of staff and block certain transactions if they're viewed as inappropriate. “Businesses want to make sure t
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