The CEO of an expense management company has a blunt forecast for his own category. “I look at expense management as a dying category,” Andrew Jamison, co-founder and CEO of Extend, told TheS
The CEO of an expense management company has a blunt forecast for his own category.
“I look at expense management as a dying category,” Andrew Jamison, co-founder and CEO of Extend, told TheStreet Roundtable at Money20/20 in Las Vegas.
Extend was founded in 2017 by veterans of American Express and Capital One. It sells card spend and expense software to small businesses through the cards they already carry. Jamison argues AI will fold expenses, bills, and reimbursements into one automated process that runs without anyone logging in.
“It doesn’t really matter if I’m doing bill payments or if I’m doing a reimbursement, it’s all going through that same process,” he said.
Extend’s 2025 recap lists AI-powered expense categorization and SMS receipt capture, and commits the company to doubling down on AI in 2026.
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AI agents that can spend money raise a problem card networks haven’t solved yet, Jamison said.
“Where’s the risk going to sit if the agent goes and does something you did not intend it to do?” he asked.
He expects agents to be certified the same way banks onboard merchants. That process is already starting. Visa, Mastercard, and Ant International recently began work on a shared Know-Your-Agent framework for agents that buy on users’ behalf, part of a broader push by the networks to keep agent payments on their rails.
Until certification arrives, Jamison sees a simpler fix. The agent asks the user to confirm the purchase, then gets a virtual, temporary card for the exact amount needed.
“It will be valid for five minutes,” he said. “Anything that’s short-lived like that also means that fraud becomes an awful lot harder.”
He expects business-to-business reordering to adopt the model before customer shopping does.
Jamison said Extend serves over 10,000 businesses, runs at a $7 billion annual rate and is growing revenue 50% a year. TheStreet could not independently verify those figures.
“You’re starting to see real adoption in this business,” Jamison said. “I think it’s only going to continue to accelerate as we grow and scale.”
Extend has been building their payment infrastructure for nearly a decade, and Jamison described it as semi-private because it corrects directly to customer’s money.
“You have to run through certain hoops to get access to them,” he said. “So there is a moat there by definition, right? Because it’s not accessible to all.”
That access runs through the banks and card networks Extend partners with. The company says its software works with cards businesses already hold, without switching banks or having to apply for new cards.
Extend says its 2026 roadmap focuses on deeper bank integrations and a platform banks can roll out to their small business customers with little disruption.
