Financial manager app will offer flat monthly rate

Expensify, a financial manager app for expenses, travel and corporate cards, announced what it calls “a major update” to its Collect plan pricing: a simple, transparent flat rate of $5 per member per month. This move, said the announcement, is designed to make Expensify more accessible to small and medium-sized businesses (SMBs), a market the company said is traditionally underserved by the financial tech industry.

Expensify’s new Collect plan delivers transparent value, according to the company, making it easier than ever for growing teams to get started. For $5 per member per month, businesses get access to the full suite of Expensify features, including expense tracking, corporate cards, travel booking and team chat — with no hidden conditions or complex calculations.

Jason Mills, chief product officer, said the SMB market has long been overlooked by competitors focused on enterprise sales. Expensify’s model, he said, “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.”

International businesses will see local equivalent pricing: five pounds in the UK, eight Australian dollars in Australia, and nine New Zealand dollars in New Zealand.

Expensify expects the new plan to boost adoption of the app among SMBs and accelerate growth in a segment where the company believes many competitors struggle to succeed.