MINNEAPOLIS—U.S. Bank has entered into an agreement to acquire Bento Technologies, known as Bento for Business, a fintech company based in Chicago and San Francisco that provides payment and expense management services to small and mid-size businesses.
The Bento platform offers businesses simple and easy-to-use tools to better manage card-based payments and other expenses via spend tracking and card transaction controls, according to U.S. Bank
In a statement, U.S. Bank said the acquisition is part of its “vision to bring payments and banking services together to simplify cash flow and money management for small businesses.”
The bank further said Bento’s accounts payable-based software complements its own existing Elavon and talech accounts receivable software solutions, “providing U.S. Bank clients a holistic one-stop experience for both their accounts payable and accounts receivable needs.”
‘Work Hard Every Day’
“Business owners work hard every day to turn their passion into a business. Our goal is to make money management easier for them so they can spend less time on administrative tasks, and more time on doing what they love – serving their customers,” said Tim Welsh, vice chair of consumer and business banking at U.S. Bank. “This is why Bento Technologies is a great fit for U.S. Bank.”