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Brex

Brex

Brex co-founders, Henrique Dubugras and Pedro Franceschi.

Brex co-founders, Henrique Dubugras and Pedro Franceschi.

Brex is an American fintechcompany that offers corporate credit cards for technology startups with higher limits than other banks. They are rebuilding B2B financial products through their offering without a personal guarantee or security deposit for startups with a venture fund. [3] [1] This form of banking for companies allows for an easy automation expense management without receipt tracking, and merges accounting systems. [1]

Overview

Brex began as a Y Combinator startup for the Winter of 2017. The founders of the company are Henrique Dubugras and Pedro Franceschi, two engineers with experience of fintech solutions for payment processing in their home country of Brazil. [19] Their previous company is called Pagar.me, which was acquired for millions of dollars by Stone. [18]

The two co-founders moved to Silicon Valley after their successful venture with Pagar.Me, to attend Stanford University, but soon dropped out after three months when they were accepted into Y Combinator. [13] The problem they aimed to solved was simple: to make it easier for startups to have a corporate credit card issued. [20]

They became some of the youngest Unicorn founders in history, launching publicly only a half a year later in June of 2018. [24]

Funding

The company has raised about $200 Million in funding from numerous accredited investors and other institutions.

PayPal founders Max Levchin and Peter Thiel contributed to the Series B financing round, in addition to fintech venture capital firm Ribbit Capital, early Facebook investor Yuri Milner and former Visa CEO Carl Pascarella. [10]

On June 11, 2019 the company was valued at $2,600,000,000.

[25]

References

[1]
Citation Linklinkedin.comLinkedIn of Brex Card.
Nov 16, 2018, 1:33 AM
[2]
Citation Linkg.coThe Google search of Brex Card.
Nov 16, 2018, 1:33 AM
[3]
Citation Linkbrex.comThe main website of Brex Card.
Nov 16, 2018, 1:34 AM
[4]
Citation Linkfacebook.comThe Facebook page of Brex Card.
Nov 16, 2018, 1:34 AM
[5]
Citation Linktwitter.comThe Twitter page of Brex Card.
Nov 16, 2018, 1:34 AM
[6]
Citation Linkinstagram.comThe Instagram of Brex Card.
Nov 16, 2018, 1:34 AM
[7]
Citation Linkyoutube.comThe YouTube channel of Brex Card.
Nov 16, 2018, 1:35 AM
[8]
Citation Linkangel.coThe AngelList of Brex Card.
Nov 16, 2018, 1:35 AM
[9]
Citation Linkmedium.comPress about the founders of Brex Card.
Nov 16, 2018, 1:35 AM
[10]
Citation Linkforbes.comPress about the funding of Brex Card.
Nov 16, 2018, 1:36 AM
[11]
Citation Linkcrunchbase.comCrunchBase profile of Brex Card.
Nov 16, 2018, 1:36 AM
[12]
Citation Linkpymnts.comPress about Brex Card.
Nov 16, 2018, 1:36 AM
[13]
Citation Linkfortune.comFortunearticle about Brex Card.
Nov 16, 2018, 1:37 AM
[14]
Citation Linkwsj.comThe The Wall Street Journal article about Brex Card.
Nov 16, 2018, 1:37 AM
[15]
Citation Linkpaymentsjournal.comPress aboutBrex.
Nov 16, 2018, 1:38 AM
[16]
Citation Linkbusinesswire.comBusinesswire pressBrex.
Nov 16, 2018, 1:38 AM
[17]
Citation Linktechcrunch.comTechcrunch pressBrex.
Nov 16, 2018, 1:38 AM
[18]
Citation Linknytimes.comThe NYTimes pressBrex.
Nov 16, 2018, 1:39 AM
[19]
Citation Linkforbes.comThe Forbes article about Brex.
Nov 16, 2018, 1:39 AM
[20]
Citation Linknews.ycombinator.comThe YCombinator press aboutBrex.
Nov 16, 2018, 1:43 AM