![]() ![]() The confusion, as well as the suddenness of the announcement, led to a pretty hefty public backlash against the founders. However, this did not entail venture-backed startups. In June 2022, Brex announced that it would stop serving small and mid-size enterprise (SME) customers. Their youth has also come back to haunt them, though. Additionally, Brex also generates revenue from interest on cash and loans as well as referral fees. The company makes most of its money via subscription and interchange fees. Access to founder-friendly loans issued by Brex itselfīrex itself is currently valued at an eye-popping $12.3 billion after its founders, which began the business at age 21, managed to raise $1.5 billion in funding.KPI tracking, financial modeling, and scenario planning via Brex’s Pry tool.Thousands of integrations with the world’s biggest ERP and tax software providers such as Intuit’s QuickBooks, Xero, or Slack.Being able to track expenses on everything from Facebook Ads all the way to team dinners.A credit card that can be used to spend cash in the physical world all while earning cashback rewards.A business bank account that allows customers to make deposits and payments as well as earn yield on holdings.Those customers can access a plethora of different tools via Brex’s all-encompassing Empower software platform. The firm currently serves over 10,000 companies in the United States including Airbnb, Airtable, ClassPass, DoorDash, and many others. Essentially, Brex wants to build the de-facto financial operating system on which founders can build and scale their companies. The company, which is headquartered in San Francisco, California, was founded in 2017 by Henrique Dubugras and Pedro Franceschi.īrex’s goal is to act as a trusted and long-term partner to high-growth tech startups. ![]() Brex is a FinTech company offering credit cards and a spend management solution to business customers. ![]()
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