UPSIDER provides a corporate card solution that allows businesses to set spending limits and restrict usage to specific vendors, significantly reducing the risk of unauthorized transactions. The platform automates compliance with electronic record-keeping laws and streamlines expense reporting, enabling faster monthly financial close processes for companies.
Funding
$630.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many companies, especially startups and those aiming for IPO, face challenges in controlling employee spending and preventing unauthorized use of corporate cards. Traditional corporate cards often lack granular controls, leading to potential misuse and difficulties in maintaining compliance with electronic record-keeping laws. Expense reporting and reconciliation can also be time-consuming and error-prone, delaying monthly financial closes.
Solution
UPSIDER provides a corporate card and spend management platform designed to give businesses greater control and visibility over company spending. The platform enables administrators to set granular spending limits, restrict card usage to specific vendors, and monitor transactions in real-time, significantly reducing the risk of fraud and unauthorized purchases. UPSIDER automates compliance with electronic record-keeping requirements by facilitating easy uploading and management of receipts and invoices. The platform also integrates with major accounting software packages, streamlining expense reporting and accelerating the monthly financial close process.
Target Audience
UPSIDER targets startups, growth-stage companies, and enterprises, particularly those with a focus on financial compliance, internal controls, and efficient expense management. The platform is also suited for companies pursuing an IPO.
Features
- Customizable spending limits on a per-card basis, including daily, monthly, and per-transaction limits
- Vendor lock to restrict card usage to pre-approved merchants and services
- Real-time transaction monitoring and alerts for suspicious activity
- Automated receipt and invoice capture via iOS/Android apps, Slack, and web interface
- Automated matching of transactions with uploaded receipts
- Automated categorization of expenses and generation of journal entries
- Integration with accounting software such as freee会計, マネーフォワードクラウド会計, 勘定奉行クラウド, and 弥生会計クラウド via API
- Compliance checks for electronic record-keeping laws and invoice requirements
- Virtual and physical card options with unlimited card issuance
- Support for 3D Secure authentication for secure online transactions