SAN FRANCISCO, Nov. 12 2021 — US-based payment and financing platform Tribal Credit won Tearsheet’s 2021 Challengers Awards for Best Banking Product, recognizing the company’s innovative solutions in the digital B2B financial technology space.
Designed to address the needs of small and medium-sized businesses (SMBs) in emerging markets including LatAm, Tribal Credit was shortlisted for the award category with TravelBank, a US-based corporate expense and travel management company.
“Empowering SMBs in LatAm and emerging markets is what drives us every day. Our mission is to help businesses grow by offering them solutions that make their corporate payments easier, their access to credit faster, and their finances managed better,” says Duane Good, Tribal Credit’s President and COO.
The Tearsheet Challengers Awards recognize “the best, most innovative players in the digital banking space.” Notable winners in last year’s awards include Mantl, MetaBank, Varo, Stash, PNC Bank, and Arival.
“We are happy that our product is positioned among the best B2B solutions offering an alternative to traditional banking to help businesses grow. The digital card we offer our customers is an efficient way for the control and visibility of their expenses. Our products and services are all about helping SMBs with cross-border payments, access to credit, and spend management,” says Arvind Nimbalker, Global Head of Product at Tribal Credit.
Tribal Credit has also been announced Finalist for BAI’s Global Innovation Awards 2021 in the “Innovation in Small Business Products and Services” category.
The BAI Global Innovation Awards “celebrate new and innovative solutions in the financial services industry worldwide.” Winners will be publicly announced in December 2021.
Sixty-two million SMBs are transacting globally every year, with the LatAm region representing a $175 billion market opportunity led by Mexico—Tribal Credit’s biggest market.
Tribal Credit beta launched in December 2019 offering corporate cards and a spend management platform for startups and SMBs in emerging markets. With the increased demand for more efficient online B2B banking experiences, especially at the onset of the pandemic, Tribal Credit expanded its payments and financing products to include Tribal Pay, helping customers settle non-card purchases and benefit from extended payment terms.
With expertise honed at leading tech companies and financial institutions, Tribal Credit’s founding team of serial entrepreneurs, data scientists, and fintech execs have built and scaled startups in both emerging markets and the U.S. To spearhead its growth as it scales across markets, the company attracted a global management team of former leaders from HSBC, Visa, Experian, Mercado Libre, American Express, Nubank, Marqeta, Didi Pay, among other leading startups and top financial institutions.
Tribal Credit is a fintech company built for emerging-market SMBs looking for a better way to pay and finance business expenses and increase their financial efficiency. The US-based startup provides modern payment methods like multi-currency physical and virtual business Visa cards, local and international wires, short-term financing, and a powerful spend management platform to track and control expenses—all in one seamless interface. Founded by serial entrepreneurs, data scientists, and fintech execs, Tribal Credit is on a mission to empower emerging-market SMBs to grow and compete in a global economy. Tribal Credit is backed by QED Investors, BECO Capital, Global Ventures, Stellar Development Foundation, Endure Capital, 500 Startups, Endeavor Catalyst, and OTG Ventures. The company is also part of the Visa Fintech Fast Track program among an elite group of fintechs. Learn more at www.tribal.credit.