Companies
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Brex
Fintech
Brex is a San Francisco-based fintech company providing corporate credit cards, expense management, and banking services primarily for startups and growing businesses.
$3.86B
-$22.04
66.92%
30 days ago
$32.93
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Brex was founded in 2017 by Henrique Dubugras and Pedro Franceschi, two Brazilian entrepreneurs who identified that startups, particularly those without an extensive credit history or willingness to provide a personal guarantee, often struggled to qualify for traditional corporate credit cards from banks, motivating them to build a corporate card product that instead underwrites credit based on a company's cash balance and spending patterns, an approach that let many venture-backed startups obtain corporate credit access more easily than through traditional banking relationships. Brex has expanded significantly beyond its original corporate card product into a broader spend management and banking platform, including expense management software, bill payment, and business banking services, competing directly with other well-funded corporate spend management companies including Ramp in a category that has seen significant investor interest and competitive intensity given the scale of enterprise spend management as a market opportunity. The company has shifted its target customer focus over time, moving from an initial emphasis on early-stage venture-backed startups toward a broader mix of customers including larger, more established growth-stage and enterprise companies, reflecting the natural maturation of its original startup customer base as well as competitive pressure in the earlier-stage segment. Brex has raised very substantial venture funding from investors including Y Combinator, DST Global, and Ribbit Capital, reaching a valuation exceeding $12 billion at its peak.
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