{
"status": "success",
"data": [
{
"ai_summary": "Fintech companies now capture approximately 25% of global banking revenues, a share that has steadily increased over the past decade according to industry analysis. The growth is driven by revenue shifts in payments, consumer lending, and wealth management, with traditional banks responding through digital investments and acquisitions. ",
"type": "Technology Adoption & Disruption",
"url": "https://techbullion.com/how-fintech-companies-are-capturing-25-of-global-banking-revenues/",
"title": "How Fintech Companies Are Capturing 25% of Global Banking Revenues",
"company_name": "Brex",
"publisher": "techbullion",
"published_date": "2026-03-23 21:08:23",
"source": "Wokelo",
"author": "Reeves Birner",
"countries": [
"IND",
"BRA",
"USA",
"GBR"
],
"sentiment": "Neutral",
"company_names": [
{
"name": "Square",
"website": "https://sqpm.com"
},
{
"name": "Stripe",
"website": "https://stripe.com"
},
{
"name": "PayPal",
"website": "https://www.paypal.com/home"
},
{
"name": "Wise",
"website": "https://wise.com"
},
{
"name": "Klarna",
"website": "http://www.klarna.com"
},
{
"name": "Affirm",
"website": "https://www.affirm.com"
},
{
"name": "Afterpay",
"website": "https://www.afterpay.com"
},
{
"name": "Betterment",
"website": "http://www.betterment.com"
},
{
"name": "Wealthfront",
"website": "https://www.wealthfront.com"
},
{
"name": "Nutmeg",
"website": "http://www.nutmeg.com"
},
{
"name": "Robinhood",
"website": "https://www.robinhood.com"
},
{
"name": "Mercury",
"website": "https://mercury.com"
},
{
"name": "Brex",
"website": "https://brex.com"
},
{
"name": "Ramp",
"website": "https://ramp.com"
},
{
"name": "Tide",
"website": "https://www.tide.co"
},
{
"name": "Starling Bank",
"website": "https://www.starlingbank.com"
}
],
"primary_tag": "Technology Adoption & Disruption",
"original_language": "EN",
"secondary_tags": [
"Equity Fund-Raising",
"Mergers & Acquisitions",
"Economic Indicators"
],
"newsworthiness_impact": "High",
"primary_industry": "Consumer P2P International Remittances",
"secondary_industry": [
"Alternative Payment Methods (APM) Enablement (Wallets, A2A, Local Rails)",
"Pricing, Risk-Based Offer & Limit Management"
],
"scraped_text": "Share Share Share Share Email A Structural Shift in Financial Services Revenue The migration of banking revenue from traditional institutions to fintech platforms has moved beyond the early disruption phase into a structural realignment of the financial services industry. Industry analysis from McKinsey & Company and other leading consultancies estimates that fintech companies now capture approximately 25% of global banking revenues, a share that has grown steadily over the past decade and shows no signs of plateauing. This represents hundreds of billions of dollars in annual revenue that has shifted from incumbent banks to technology-driven competitors. The revenue capture is not evenly distributed across banking activities. Fintech companies have made the deepest inroads in payments, consumer lending, and wealth management, while corporate banking and complex capital markets activities remain more firmly held by traditional institutions. Understanding where fintech has gained revenue share, and why, reveals the competitive dynamics reshaping global banking. Payments Revenue Under Pressure Payments represent the banking activity where fintech has captured the most revenue. Traditional banks have long relied on interchange fees, foreign exchange spreads, and transaction processing charges as reliable revenue streams. Fintech companies have systematically attacked each of these revenue pools by offering cheaper, faster, and more transparent alternatives. In domestic payments, companies like Square, Stripe, and PayPal have captured significant merchant acquiring revenue by offering simpler onboarding, better technology integration, and more competitive pricing than traditional merchant services providers. In international payments, platforms like Wise have compressed the foreign exchange margins that banks traditionally charged, offering exchange rates close to the mid-market rate and transparent fee structures that expose the hidden costs of traditional bank transfers. The rise of real-time payment systems, many of them government-led initiatives like India’s UPI and Brazil’s Pix, has further reduced the revenue banks extract from payments by providing free or low-cost payment rails that bypass traditional bank-controlled infrastructure. Consumer Lending Disrupted by Digital Platforms Consumer lending, one of the most profitable activities for retail banks, has seen substantial revenue migration to fintech platforms. Digital lenders have captured market share across personal loans, point-of-sale financing, student loan refinancing, and small-dollar credit products. Their advantage stems from lower operating costs, faster approval processes, and the ability to reach customers through digital channels rather than branch networks. Buy-now-pay-later platforms like Klarna, Affirm, and Afterpay have been particularly effective at capturing lending revenue that previously flowed to credit card issuers. By offering interest-free installment plans at the point of sale, these platforms attract consumers who might otherwise have used credit cards, diverting interchange and interest revenue away from traditional card issuers. Research from Accenture indicates that digital lending platforms have captured a meaningful share of new consumer loan origination in several major markets, with the share continuing to grow as borrower comfort with digital lending increases and traditional banks struggle to match the speed and convenience of fintech alternatives. Wealth Management Fees Under Competitive Pressure Traditional wealth management has relied on advisory fees and management charges that typically range from 0.75% to 1.5% of assets under management annually. Robo-advisory platforms from companies like Betterment, Wealthfront, and Nutmeg have offered comparable portfolio management services for fees of 0.25% to 0.50%, forcing traditional wealth managers to justify their pricing or reduce their fees. Trading platforms like Robinhood disrupted brokerage revenue by introducing commission-free stock trading, a model that most major brokerages subsequently adopted. While Robinhood generates revenue through other mechanisms including payment for order flow and premium subscriptions, the impact on industry pricing was significant. Billions of dollars in annual commission revenue evaporated across the brokerage industry within a few years of commission-free trading becoming mainstream. Small Business Banking Revenue Shifting Small and medium-sized business banking represents another area where fintech companies have gained significant ground. Traditional banks have historically found it difficult to serve small businesses profitably, leading to high fees, rigid product offerings, and poor digital experiences. Fintech companies have stepped into this gap with digital business accounts, automated bookkeeping tools, integrated payment solutions, and fast-approval business loans. Companies like Mercury, Brex, and Ramp in the United States, Tide and Starling in the United Kingdom, and various regional players in other markets have attracted millions of small business customers. These platforms typically generate revenue through interchange on business card spending, fees on financial products, and subscription charges for premium features. Each dollar of revenue they generate from small business customers represents revenue that incumbent banks are not collecting. Why Traditional Banks Are Losing Revenue Share Several structural factors explain why fintech companies have been able to capture banking revenue so effectively. First, fintech companies operate with fundamentally lower cost structures. They do not maintain branch networks, they employ fewer people per customer served, and their technology platforms are designed for efficiency rather than retrofitted onto legacy systems. Second, fintech companies have generally offered better customer experiences. Mobile-first design, instant onboarding, transparent pricing, and responsive customer service have set new expectations that traditional banks struggle to match with their older technology infrastructure and organizational structures. Third, fintech companies have been faster to innovate. The product development cycles at most fintech companies are measured in weeks, while traditional banks often require months or years to launch new products due to legacy technology constraints and complex internal approval processes. How Banks Are Responding Traditional banks are not passive observers of this revenue migration. Many have invested billions of dollars in digital transformation programs aimed at modernizing their technology, improving customer experiences, and launching competitive digital products. Some have acquired fintech companies outright, bringing their technology and talent in-house. Others have formed partnerships, using fintech infrastructure to enhance their own offerings. Several large banks have launched their own digital-only banking brands, creating separate entities that can operate with fintech-like speed and culture while drawing on the parent bank’s balance sheet and regulatory licenses. JPMorgan Chase’s digital capabilities, Goldman Sachs’ Marcus platform, and similar initiatives from major banks around the world represent significant competitive responses to fintech disruption. The Revenue Share Outlook Most industry analysts expect fintech’s share of banking revenue to continue growing, though the pace of growth may vary by segment and geography. Areas where fintech penetration is already high, like payments and consumer lending in developed markets, may see slower incremental growth. Areas where digitization is still in early stages, like insurance, corporate banking, and financial services in many emerging markets, offer more room for continued revenue capture. The long-term equilibrium between fintech companies and traditional banks is likely to be more collaborative than purely competitive. Many fintech companies depend on banking infrastructure, licenses, and balance sheets to operate. Many banks find that partnering with fintech companies produces better outcomes than trying to build competitive products internally. The 25% revenue share figure represents a snapshot of an ongoing transformation that will continue reshaping the industry for years to come. Share Share Share Share Email Recommended for you Global Fintech Market Value Projected to Grow Beyond $1 Trillion\n\nHow 60% of Consumers Now Prefer Digital Financial Services\n\nWhy Fintech App Downloads Surpassed 7 Billion Globally"
},
{
"ai_summary": "Brex CEO Pedro Franceschi discusses the rapid $5.15 billion deal with Capital One, highlighting the deal's significance in the fintech space, Brex's evolving valuation, and plans for aggressive market competition, positioning Brex as a leading financial platform. The deal, finalized in about 40 days, is set to enhance Brex's growth and enterprise capabilities.",
"type": "Mergers & Acquisitions",
"url": "https://www.youtube.com/watch?v=3a3omxYXqK4",
"title": "How Brex signed a $5.15B Deal in ~40 Days",
"company_name": "Brex",
"publisher": "Youtube",
"published_date": "2026-01-30 00:00:00",
"source": "Wokelo",
"author": "",
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"scraped_text": "Brex CEO Pedro Franceschi joins Molly O’Shea for an exclusive breakdown of the $5.15B Brex x Capital One M&A deal—from the first serious conversations to finalising the deal in ~40 days, making this one of the largest bank–fintech deals in history. Pedro shares why Capital One paid up, why he believes the “exit” mental model is wrong, and how Brex stays founder-led with a “butterfly” operating model inside a $150B platform powered by $6B in marketing and $6B in R&D. We break down the full deal timeline (term sheet on Dec 22, announcement tied to Capital One’s Jan 22 earnings), the 50/50 cash–equity structure, and why Capital One committed ~$950M in integration + retention to accelerate Brex’s trajectory. Pedro also walks through Brex’s valuation reset—from a $12B peak to a ~$4B employee repricing, and now a ~13.4x gross profit acquisition multiple at the top end of fintech public comps. Pedro also explains how Brex is staying in war mode—shifting its real competition from fintech peers to JPMorgan, Amex, and the largest U.S. banks. With Capital One’s scale behind it, Brex is aggressively pushing to win enterprise market share, out-execute legacy incumbents, and become the dominant financial platform for modern companies. Brex today serves 1 in 3 U.S. startups, supports 300+ public companies, and powers spend for top AI labs—including TikTok, Toast, Robinhood, Anthropic, Zoom, DoorDash, and Canva. After closing, Brex is expected to become the #3 corporate card platform in the U.S., accelerating enterprise expansion, AI agents, and next-generation financial automation. This may be the only full public, founder-level breakdown of a major M&A deal ever shared right after signing. Hope you enjoy! Pedro Franceschi: https://x.com/pedroh96 Molly O’Shea: https://x.com/MollySOShea Sourcery: https://x.com/sourceryy 𝐄𝐏𝐈𝐒𝐎𝐃𝐄 𝐋𝐈𝐍𝐊𝐒 Apple Podcasts: https://podcasts.apple.com/in/podcast... Spotify: https://open.spotify.com/episode/3a1O... 𝐒𝐏𝐎𝐍𝐒𝐎𝐑𝐒 • Brex—The modern finance platform, combining the world’s smartest corporate card with integrated expense management, banking, bill pay, & travel. https://brex.com/sourcery • Turing—Turing delivers top-tier talent, data, and tools to help AI labs improve model performance—and enables enterprises to turn those models into powerful, production-ready systems. https://turing.com/sourcery • Deel—Deel is the global people platform that helps startups hire, manage, pay, and equip anyone, anywhere. Trusted by more than 35,000 fast-growing companies, Deel is the people platform that just works, so teams can scale without the chaos. Visit: https://www.deel.com/sourcery • Public–Investing platform Public just launched Generated Assets, which lets you turn any idea into an investable index with AI. With Generated Assets, you can build, backtest, refine, and invest in any thesis with AI. Gone are the days of one-size-fits-all ETFs. https://public.com/sourcery Follow Sourcery for the latest updates! https://www.sourcery.vc/ Disclosure Paid Endorsement. Brokerage services by Open to the Public Investing Inc, member FINRA & SIPC. Advisory services by Public Advisors LLC, SEC-registered adviser. Crypto trading provided by Zero Hash LLC, licensed by the NYSDFS. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time. 𝐓𝐈𝐌𝐄𝐒𝐓𝐀𝐌𝐏𝐒 ( 00:00 ) Pedro Franceschi, CEO Brex ( 01:49 ) Pedro signs official 'on-the-record' docs ( 02:49 ) Why Capital One wanted Brex ( 04:59 ) What Brex gets: country-scale ambition + bigger budgets + “impossible to unsee” the upside ( 06:49 ) Customer reaction + Pedro stays CEO + autonomy to keep momentum ( 08:09 ) The timeline: ~40 days, term sheet Dec 22, signing early Jan ( 09:59 ) Capital One’s conviction + rigor: deep diligence on risk, unit economics, product, credit ( 11:09 ) Valuation debate: why private valuations converge to public markets ( 12:59 ) Brex 3.0 reset: repricing equity to ~$4B to restore employee upside ( 14:59 ) Public comps + the punchline: deal at ~13–14x gross profit (top of range) ( 17:49 ) “Third largest corporate card” & the path to rival Amex/JPM ( 19:49 ) Why this buyer: Capital One does growth M&A (not distressed) ( 23:19 ) ⅓ of Startups on Brex & how they’re benefitting ( 25:09 ) “Don’t crush the butterfly”: keeping Brex independent inside Capital One ( 33:19 ) Brex vs Ramp vs incumbents: real competition Amex/JPM + big banks ( 43:29 ) AI deep dive: “inversion of control,” agents, & “mini CFO” decision-making ( 45:20 ) Agentic finance: Brex's aggressive AI plan ( 53:28 ) Pedro's biggest lessons ( 56:57 ) The next five years: focus, execution, & growth ( 59:08 ) Q&A from X: IPO vs M&A, timing, & tradeoffs"
},
{
"ai_summary": "Brex's sale to Capital One for $5.15 billion is seen as a reality check for non-AI startups, marking a significant downturn from its previous $12 billion valuation, while also representing a substantial payout for the founders amidst a challenging market for tech exits.",
"type": "Executive Commentary & Interviews",
"url": "https://www.newcomer.co/p/brex-sale-to-capital-one-a-letdown",
"title": "Brex Sale to Capital One: A Letdown for Late-Stage Investors But a Big Win for Founders",
"company_name": "Brex",
"publisher": "Newcomer",
"published_date": "2026-01-26 00:00:00",
"source": "Google",
"author": "",
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"sentiment": "",
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"scraped_text": "The Week in Short Brex deal is a Rorschach test on exit expectations. Secondary volumes soar as investors chase big names. The AI boom is no dot-com bubble, says a16z, which also promoted two investors to GP. Humans& and Inferact score nine-figure “seed” rounds. Zipline and OpenEvidence also raise big bucks. OpenAI preps ads, seeks new Middle East funding, and sees device launch this year. Anthropic’s new funding round will value the company at $350 billion, or more. Greenoaks and Altimeter sue the South Korean government, which they say has it in for Coupang. Oracle and Silver Lake win big in long-delayed TikTok deal. The Main Item Brex’s $5.15 Billion Exit is a Healthy Reality Check for Non-AI Startups Depending on how you look at it, Brex’s sale to Capital One for $5.15 billion is a humbling escape hatch or a huge victory. The glass half empty view is that this exit is a far cry from Brex’s $12 billion valuation in 2022. That round, led by TCV and Greenoaks, was in hindsight a tad optimistic. (Greenoaks also led an earlier round into Brex at a $1 billion valuation.) For an investor like Kleiner Perkins, which spearheaded a $100 million round in June 2019 at $2.5 billion, this will amount to roughly a 1.2x to 1.3x return after dilution — not the type of multiple you want to see after six-and-a-half years. Besides Ribbit Capital and Y Combinator, many investors seem to have overpaid for Brex. The glass half full view is that $5.15 billion is a lot of money! And this isn’t play money. Brex is getting paid half in cash and half in Capital One’s liquid public stock — not some startup’s questionably inflated equity. The company took in around $1.5 billion in total funding since its founding nine years ago. “Some of your readership might say why is that only $5.15 billion,” Brex’s Chief Business Officer Art Levy said to me. “Those people haven’t spent enough time in the public markets.” The deal represents “a very strong gross profit multiple for us — a number and transaction value that we’re very proud of,” Levy said. For Brex founder Pedro Franceschi — the company’s CEO who went the distance after co-CEO Henrique Dubugras took his eye off the ball — this is a safe landing for a vessel that had been in choppy waters. Of course, half the reason we care about Brex is because it was a protagonist in one of the great startup rivalries: Brex vs. Ramp. Ramp raised at a $32 billion valuation in November. Founders Funds’ resident troll Delian Asparouhov tweeted “GG WP EZ NO RE” — gamer speak for good game, well-played, easy, no rematch. In other words: total Ramp victory. Ramp CEO Eric Glyman (a friend) posted congratulations on X that referenced his stint at Capital One after his first startup, Paribus, sold to the credit card company. For the broader startup ecosystem, the Brex deal is a reality check. If you’re not an AI company, we’ve actually been in a pretty brutal post-pandemic downturn. On the public markets, that’s evident. Figma, for one, is down 76% from its post-IPO peak. Public market investors don’t seem to hold Silicon Valley’s high-flyers in quite the same esteem as their private-market counterparts. In terms of great rivalries, there are plenty to watch for. We’ve got Rippling and Ramp on a collision course. And if Capital One can make the most of its acquisition, it could soon have Ramp directly in its crosshairs. Brex had tried to duck too much direct competition with Ramp, exiting the small-and-medium-size business market where Ramp and Capital One compete directly. This showdown may not be done quite yet. Private Markets Secondary Sales Ride High, Powered by a Handful of Hot Startups The jury is still out on whether 2026 will bring a major rebound in tech IPOs, but in the meantime secondary share sales are going strong, with global volume growing 46% to $226 billion in 2025, according to a new report from Evercore. Institutional traders continue to buy their way into the market. The Swedish firm EQT this week announced the acquisition of secondaries specialist Coller Capital for $3.7 billion. That deal comes on the heels of a flurry late last year that included Goldman Sachs’ purchase of Hans Swildens’s secondaries-heavy Industry Ventures, Charles Schwab’s acquisition of Forge Global, and Morgan Stanley’s buyout of EquityZen. Secondary deal volume is still dominated by a handful of startups, says Dan Gray, the venture capital thought leader and Odin research lead. Secondary marketplace Hiive’s Hiive 50 Index, which shows which companies’ shares are traded most often, ranks Kraken, SpaceX, Perplexity, and Cerebras as the most active. Demand for shares in the hottest growth-stage startups is supercharged by investors who are happy to pay a premium via special purpose vehicles so they can boast of having a stake. “A big part of this is logo-hunting firms — they’ll go into a three-layered SPV just so they can add a SpaceX logo to their next fundraising deck,” said Gray. Secondary indexes can also show on the aggregate if startup valuations are remaining overinflated or if buyers are gearing up for a market correction. The Notice50 Index of secondary share values, shown below, saw a steady increase all through 2025, but it peaked on January 9 and has since dropped off slightly. It shows a five-year gain in value of 214.74%. The NASDAQ index, by comparison, rose 73% over the same period. Notice also shares a list of which shares saw the biggest gain in value over the last 30 days. Their top three as of yesterday were Cerebras, Anthropic, and Cursor. Two Big Charts AI Mania Hasn’t Reached Dot-Com Levels of Precarity, Says a16z The debate over whether the AI boom is a dangerous bubble continues to rage, but a16z says there’s no reason to fear. Earnings multiples of AI companies are much more balanced compared with the peak of the dot-com bubble, data from the firm’s latest State of Markets report shows. Similarly, the ratio of CapEx to company sales, while increasing, is still well below the previous peak. The share of CapEx that is coming from outside debt, rather than from internally generated cash flow, is also significantly lower than it was in the dot-com era."
},
{
"ai_summary": "Capital One has announced a $5.15 billion acquisition of Brex to enhance its business payments and spend management capabilities, integrating Brex's AI-driven financial technology into its services. The deal is set to close by mid-2026, pending regulatory approval.",
"type": "Geographic Expansion",
"url": "https://www.bankingexchange.com/news-feed/item/10525-capital-one-expands-payments-capabilities-with-brex-acquisition",
"title": "Capital One Expands Payments Capabilities with Brex Acquisition",
"company_name": "Brex",
"publisher": "Bankingexchange",
"published_date": "2026-01-26 00:00:00",
"source": "Google",
"author": "",
"countries": [],
"sentiment": "",
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"scraped_text": "Capital One has agreed to acquire business finance platform Brex in a $5.15 billion deal, as the bank moves to expand its business payments and spend management capabilities.\n\nThe acquisition, which will be funded through a mix of cash and stock, will see Capital One integrate Brex’s technology into its existing business banking offering.\n\nBrex operates as an AI-native finance platform, providing businesses with corporate cards, automated expense management, and secure, real-time payments, alongside AI-driven tools designed to reduce manual processes and improve control over company spending.\n\nFounded in 2017, Brex was built to combine financial services and software within a single platform. Under Capital One’s ownership, the business is expected to accelerate growth by pairing its payments and spend management expertise with the bank’s scale, underwriting capabilities, and established brand, allowing the combined group to reach a wider range of US businesses.\n\nRichard D. Fairbank, founder, chairman, and CEO of Capital One, said: “Since our founding, we set out to build a payments company at the frontier of the technology revolution. Acquiring Brex accelerates this journey, especially in the business payments marketplace.\"\n\n\"Brex invented the integrated combination of corporate credit cards, spend management software, and banking together in a single platform. They have taken the rarest of journeys for a fintech, building a vertically integrated platform from the bottom of the tech stack to the top.”\n\nFollowing the completion of the transaction, Brex will continue to operate under its existing leadership, with founder Pedro Franceschi remaining at the helm as part of Capital One.\n\nThe deal is expected to close in the middle of the 2026 calendar year, subject to regulatory approval."
},
{
"ai_summary": "Capital One has announced its acquisition of fintech firm Brex for $5.15 billion in a cash-and-stock deal, enhancing its business payments strategy and positioning within the competitive landscape of corporate financial services.",
"type": "Mergers & Acquisitions",
"url": "https://www.fintechweekly.com/news/capital-one-acquires-brex-business-payments-fintech-deal",
"title": "Capital One Agrees to Buy Brex for $5.15 Billion, Marking Major Move Into Business Payments Technology",
"company_name": "Brex",
"publisher": "Fintechweekly",
"published_date": "2026-01-26 00:00:00",
"source": "Google",
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"scraped_text": "Capital One has agreed to acquire fintech firm Brex for $5.15 billion in a cash-and-stock deal, expanding its business payments strategy and strengthening its position in corporate cards, expense management, and digital payment tools.\n\nDiscover top fintech news and events! Subscribe to FinTech Weekly's newsletter Read by executives at JP Morgan, Coinbase, Blackrock, Klarna and more Capital One Confirms Brex Acquisition in Cash-and-Stock Deal Capital One Financial Corp. announced Thursday that it has reached an agreement to acquire Brex, a technology-focused financial services firm, in a transaction valued at $5.15 billion. The deal will be split evenly between cash and stock, according to the terms disclosed by the bank. It reflects the continued consolidation underway across the fintech industry, where shifting market conditions and tighter funding have forced many companies to reconsider long-term strategies. Brex was previously valued at $12.3 billion during the height of venture investment activity. The new valuation highlights a sharp reset in private market pricing, driven in part by higher interest rates and reduced investor appetite for unprofitable growth. Capital One said the transaction fits into its long-term plan to expand its payments business and integrate technology-driven platforms into its core operations. A Strategic Bet on Technology-Led Payments Capital One founder and Chief Executive Officer Richard Fairbank described the acquisition as part of the bank’s effort to build a payments operation centered on modern technology. He said the purchase would speed up Capital One’s progress in business payments, especially in services aimed at corporate customers. Fairbank also pointed to Brex’s integrated platform, which combines corporate cards, banking services, and expense management software. He described the system as built across the full technology stack, allowing businesses to manage spending and payments through a single platform. The deal signals Capital One’s intent to compete more directly with both traditional banks and technology-driven payment providers. Business payments represent a large and growing market, driven by demand for faster settlement, better expense tracking, and integrated financial tools. Brex’s Rise in Startup and Enterprise Banking Brex was founded in 2017 and quickly built a reputation among startups and fast-growing technology companies. The company initially focused on providing corporate cards and cash management tools to businesses that often struggled to access credit through traditional banks. During a period of low interest rates and strong venture funding, Brex gained attention by extending credit to young companies based on business performance rather than personal credit scores. This approach helped the firm grow its customer base during a time of rapid startup formation. Over time, Brex expanded beyond early-stage firms. The company introduced services aimed at larger enterprises, adding expense management software, payment tools, and broader banking features. Its client list now includes companies such as Robinhood, Zoom, and Anthropic, reflecting a shift toward serving more established businesses. The expansion strategy allowed Brex to reduce its reliance on the technology sector alone and build relationships across multiple industries. Valuation Reset Reflects Market Conditions The $5.15 billion purchase price stands in contrast to Brex’s earlier valuation of $12.3 billion. That earlier figure was set during a period when venture capital investment surged and investors were willing to assign high valuations to growth-focused firms. Market conditions have changed. Higher interest rates increased the cost of capital, while investors began to focus more on profitability and cash flow. Many fintech companies faced pressure to cut costs, slow expansion, or pursue strategic alternatives. Brex managed to continue growing its customer base and product offerings, but the broader market reset affected valuations across the sector. Capital One’s acquisition reflects this new environment, where established financial institutions can acquire technology firms at lower prices than in previous years. How Brex Fits Into Capital One’s Expansion Strategy Capital One has pursued major acquisitions under Fairbank’s leadership. The bank agreed last year to purchase Discover Financial Services in a deal valued at approximately $35 billion. That transaction provided Capital One with access to a large-scale payment network, a rare asset in the U.S. market. The Brex acquisition builds on that strategy. Capital One gains access to software tools and business-focused payment products that complement its existing consumer and commercial banking operations. Business payments represent a key area of competition. Companies increasingly expect digital tools that allow real-time expense tracking, automated approvals, and integration with accounting systems. By adding Brex’s platform, Capital One strengthens its ability to offer these services to small and medium-sized businesses as well as larger enterprises. The move also positions Capital One to compete with specialized payment firms that operate outside the traditional banking system. Stablecoins and Digital Asset Services Add Another Layer The deal also brings new digital asset capabilities into Capital One’s orbit. Brex announced plans in September 2025 to introduce native stablecoin payments. The company said it intended to enable businesses to make instant balance payments using blockchain-based stablecoins. At the time, Brex leadership said the technology would allow companies to move large sums of money across borders within seconds. The goal involved offering a single platform where businesses could manage traditional payments alongside digital asset transactions. Several blockchain-focused companies, including Figure, Solana, and Alchemy, expressed interest in the stablecoin product by joining the waitlist. That response highlighted Brex’s growing role within the digital asset ecosystem. For Capital One, this capability adds exposure to emerging payment methods that could play a larger role in international commerce. Stablecoins have gained attention for their potential to reduce settlement times and lower cross-border transaction costs. Regulatory oversight remains a factor in this area. Financial institutions offering digital asset services must comply with evolving rules related to consumer protection, anti-money laundering standards, and asset custody. Capital One’s experience operating under strict regulatory frameworks may influence how these services develop. Leadership Says Sale Was Strategic, Not Forced Brex Chief Executive Officer Pedro Franceschi told CNBC that the company did not seek a buyer out of financial pressure. He said Brex continued to show strong growth and had options to remain independent. Franceschi explained that the decision to combine with Capital One was based on the opportunity to expand more quickly using the bank’s scale and resources. He said the partnership would allow Brex’s technology to reach a larger customer base than it could on its own. Capital One also said it became convinced that Brex’s approach represented the future direction of business payments. The bank pointed to the integration of software and financial services as a model that aligns with changing customer expectations. Implications for the Business Payments Market The acquisition reflects broader trends in the payments sector. Businesses increasingly demand platforms that combine banking services with software tools. Expense management, payroll integration, and real-time reporting have become standard expectations rather than optional features. Traditional banks face competition from technology firms that offer specialized services with modern user interfaces. At the same time, fintech companies often lack the balance sheet strength and regulatory infrastructure of large banks. Mergers between these two groups offer a way to combine strengths. Capital One gains advanced software tools, while Brex gains access to a large customer base, capital resources, and regulatory expertise. The deal also highlights the growing importance of embedded finance, where payment and banking functions are integrated directly into business software platforms. Regulatory Review and Closing Timeline The transaction remains subject to regulatory approval and customary closing conditions. U.S. banking regulators will review the deal to assess its impact on competition, consumer protection, and financial stability. Capital One did not provide a specific closing date but indicated that both companies will continue operating independently until the transaction is finalized. Integration planning is expected to begin during the regulatory review process. Past acquisitions by Capital One suggest the bank will take a phased approach to integration. This strategy often focuses on maintaining service continuity while gradually aligning technology systems and business operations. Market Reaction and Investor Focus Investors reacted with interest to the announcement. Analysts noted that the acquisition price reflects disciplined capital deployment compared to valuations seen during the peak of fintech investment activity. Market participants will watch how Capital One integrates Brex’s platform and whether the combined business can deliver revenue growth in the competitive payments sector. Attention will also focus on cost synergies and the ability to cross-sell services to existing customers. The Discover acquisition remains under review, and the addition of Brex adds another layer to Capital One’s expansion strategy. Together, these moves signal a long-term effort to build a broader payments ecosystem. A Broader Shift in Financial Services The Capital One-Brex deal illustrates how large financial institutions are adapting to changes in technology and customer behavior. Banking services increasingly depend on software platforms that offer speed, automation, and data integration. Fintech companies played a major role in driving this shift over the past decade. Now, established banks are responding by acquiring technology firms rather than building every tool internally. The result is a financial sector where traditional institutions and technology platforms are becoming more closely linked. Business customers stand to gain from improved tools and faster payment processes, while regulators continue to monitor how these changes affect risk and market competition. What Comes Next Capital One plans to incorporate Brex’s technology into its broader payments strategy. The bank has not yet detailed how branding or product offerings will change after the acquisition closes. Brex customers will look for clarity on how services evolve under new ownership. Capital One customers may gain access to new software-based tools for managing expenses and business payments. For now, the announcement marks a clear signal. Capital One is committing significant resources to expand its role in business payments and financial technology. The acquisition of Brex represents a step toward that goal, one that reflects both market realities and long-term strategic planning. The coming months will determine how effectively the two companies combine operations and whether the deal delivers the growth and efficiency gains both sides expect."
},
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"ai_summary": "Capital One has announced its plan to acquire Brex, an AI-driven corporate card and spend-management platform, in a deal valued at $5.15 billion, combining $2.75 billion in cash and approximately 10.6 million shares of Capital One stock. This strategic acquisition aims to enhance Capital One's position in the business payments market and is expected to close by mid-2026, pending regulatory approvals.",
"type": "Mergers & Acquisitions",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/COF/pressreleases/37205930/capital-one-to-acquire-brex-in-515-billion-deal/",
"title": "Capital One to Acquire Brex in $5.15 Billion Deal",
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"published_date": "2026-01-26 00:00:00",
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"scraped_text": "Claim 50% Off TipRanks Premium\n\nCapital One Financial ( (COF) ) has shared an announcement.\n\nOn January 22, 2026, Capital One announced a definitive agreement to acquire Brex Inc., an AI-native corporate card and spend-management platform, in a cash-and-stock deal valued at $5.15 billion, comprising approximately $2.75 billion in cash and about 10.6 million Capital One common shares. The transaction, expected to close in mid-2026 subject to customary regulatory approvals, will bring Brex’s integrated corporate credit cards, expense management software, and banking capabilities under Capital One’s umbrella, with Brex CEO Pedro Franceschi continuing to lead the business; the deal is positioned as a strategic move to accelerate Capital One’s push into business payments and intelligent finance solutions, enhancing its competitive standing in the corporate payments and spend-management market while potentially expanding its reach among U.S. businesses and high-growth companies already using Brex’s platform.\n\nThe most recent analyst rating on (COF) stock is a Buy with a $300.00 price target. To see the full list of analyst forecasts on Capital One Financial stock, see the COF Stock Forecast page.\n\nSpark’s Take on COF Stock\n\nAccording to Spark, TipRanks’ AI Analyst, COF is a Outperform.\n\nCapital One Financial’s overall stock score reflects strong financial performance and positive technical indicators, offset by a high valuation and economic uncertainties. The Discover acquisition has bolstered revenue growth, but challenges remain in profitability and integration costs. Corporate events further enhance shareholder value, contributing positively to the score.\n\nTo see Spark’s full report on COF stock, click here.\n\nMore about Capital One Financial\n\nCapital One Financial Corporation is a technology-focused financial services company and global payments provider, with $475.8 billion in deposits and $669.0 billion in total assets as of December 31, 2025. Headquartered in McLean, Virginia, it offers a broad suite of credit card, consumer banking, global payment network, and commercial banking products across its primary markets in the United States, Canada, and the United Kingdom, leveraging a full public-cloud infrastructure, proprietary data, and advanced analytics to deliver consumer and business financial solutions.\n\nAverage Trading Volume: 4,062,938\n\nTechnical Sentiment Signal: Buy\n\nCurrent Market Cap: $145.4B\n\nLearn more about COF stock on TipRanks’ Stock Analysis page.\n\nDisclaimer & DisclosureReport an Issue"
},
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"ai_summary": "Capital One has announced its acquisition of Brex for $5.15 billion in a stock and cash deal, aimed at enhancing its capabilities in the business payments sector through Brex's AI-driven finance solutions.",
"type": "Mergers & Acquisitions",
"url": "https://www.businesswire.com/news/home/20260122016437/en/Capital-One-to-Acquire-Brex",
"title": "Capital One to Acquire Brex",
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"scraped_text": "Capital One to Acquire Brex Share MCLEAN, Va. & SAN FRANCISCO--(BUSINESS WIRE)--Capital One Financial Corporation (NYSE: COF) today announced that it has entered into a definitive agreement to acquire Brex, in a combination of stock and cash transaction valued at $5.15 billion. Brex is a modern, AI-native software platform offering intelligent finance solutions that make it easy for businesses to issue corporate cards, automate expense management and make secure, real-time payments. The company also leverages AI agents to help customers automate complex workflows to reduce manual review and control spend. ”Since our founding, we set out to build a payments company at the frontier of the technology revolution,” said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer of Capital One. “Acquiring Brex accelerates this journey, especially in the business payments marketplace.” “Brex invented the integrated combination of corporate credit cards, spend management software and banking together in a single platform. They have taken the rarest of journeys for a fintech, building a vertically integrated platform from the bottom of the tech stack to the top,” added Fairbank. “We started Brex in 2017 as a category creator – bringing together financial services and software into one AI-native platform,” said Pedro Franceschi, Founder and CEO of Brex. “Now we get to supercharge our next chapter in partnership with the team at Capital One. Together, we’ll maximize founder mode by combining Brex’s payments expertise and spend management software with Capital One’s massive scale, sophisticated underwriting, and compelling brand to accelerate growth and increase the speed at which we can offer better finance solutions to the millions of businesses in the U.S. mainstream economy.” Upon completion of the transaction, Franceschi will continue to lead Brex as part of Capital One. The transaction is expected to close in the middle of calendar year 2026, subject to the satisfaction of customary closing conditions. BofA Securities served as financial advisor and Wachtell, Lipton, Rosen & Katz served as legal advisor to Capital One, with Baker McKenzie providing counsel on certain foreign legal matters to Capital One. Centerview Partners LLC served as financial advisor and Wilson Sonsini, Simpson Thatcher and Skadden Arps served as legal advisors to Brex. About Capital One\n\nCapital One Financial Corporation (NYSE: COF) is a leading technology-based financial services company with $475.8 billion in deposits and $669.0 billion in total assets as of December 31, 2025. Headquartered in McLean, Virginia, the company operates as a premier global payments provider and diversified financial institution, delivering a broad suite of products and consumer lifestyle and shopping experiences through its Credit Card, Consumer Banking including its Global Payment Network, and Commercial Banking lines of business. As the only major U.S. bank to migrate entirely to the public cloud, Capital One leverages proprietary data and advanced analytics to democratize financial tools across its primary markets in the United States, Canada, and the United Kingdom. For more information, visit capitalone.com, capitalone.com/about/newsroom/, and investor.capitalone.com. About Brex\n\nBrex is the intelligent finance platform that empowers growing companies to spend smarter and move faster – in more than 50 countries. By combining the world's smartest corporate card with intuitive spend management software and banking, Brex enables founders and finance teams to accelerate operations, gain real-time visibility, and control spend effortlessly. Brex’s AI-powered automation and world-class service eliminate manual expense and accounting tasks for customers. Over 25,000 of the world's best companies, from startups to enterprises, run their finances on Brex – including DoorDash, TikTok, Anthropic, Robinhood, Crowdstrike, Zoom, Plaid, Intel, SeatGeek and the Boston Celtics. Forward-Looking Statements\n\nInformation in this communication, other than statements of historical facts, may constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may include, but are not limited to, statements related to the expected benefits of the transaction. Forward-looking statements often use words such as “will,” “anticipate,” “target,” “expect,” “think,” “estimate,” “intend,” “plan,” “goal,” “believe,” “forecast,” “outlook” or other words of similar meaning. Any forward-looking statements made by Capital One or on its behalf speak only as of the date they are made or as of the date indicated, and Capital One does not undertake any obligation to update forward-looking statements as a result of new information, future events or otherwise. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors. Such factors include, among others, risks relating to the transaction, including the risk that the benefits from the transaction may not be fully realized. Additional factors that could affect future results of Capital One can be found in Capital One’s Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, in each case filed with the SEC and available on the SEC’s website at http://www.sec.gov. Capital One Financial Corporation NYSE:COF Release Versions English More News From Capital One Financial Corporation Get RSS Feed Capital One Reports Fourth Quarter 2025 Net Income of $2.1 Billion, or $3.26 Per Share MCLEAN, Va.--( BUSINESS WIRE )--Capital One Financial Corporation (NYSE: COF) today announced net income for the fourth quarter of 2025 of $2.1 billion, or $3.26 per diluted common share, compared with net income of $3.2 billion, or $4.83 per diluted common share in the third quarter of 2025, and with net income of $1.1 billion, or $2.67 per diluted common share in the fourth quarter of 2024. Adjusted net income(1) for the fourth quarter of 2025 was $3.86 per diluted common share. On January 22,... Capital One Financial Corporation to Webcast Conference Call on Fourth Quarter 2025 Earnings MCLEAN, Va.--( BUSINESS WIRE )--On Thursday, January 22, 2026, at approximately 4:05 p.m. Eastern Time, Capital One Financial Corporation (NYSE: COF) will release its fourth quarter 2025 earnings results. Additionally, the company will host a conference call at 5:00 p.m. Eastern Time to review financial and operating performance for the quarter ending December 31, 2025. The call will be webcast live and the earnings release will be available on the company’s homepage at www.capitalone.com. A repl... Capital One Announces Quarterly Dividend MCLEAN, Va.--( BUSINESS WIRE )--Capital One Financial Corporation (NYSE: COF) today announced a quarterly dividend of $0.80 per common share payable December 1, 2025, to stockholders of record at the close of business on November 17, 2025. The company has announced dividends on its common stock every quarter since it became an independent company on February 28, 1995. Dividends declared by the company are eligible for direct reinvestment in the company's common stock under its Dividend Reinvestme... Back to Newsroom\n\nCapital One Financial Corporation NYSE:COF Release Versions English"
},
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"ai_summary": "Capital One has acquired fintech Brex for $5.15 billion, significantly below its peak valuation, highlighting a trend in fintech valuation adjustments. The success of this acquisition will depend on effective integration of Brex's innovative platforms and Capital One's underwriting capabilities, amidst challenges in retaining key talent and managing overlapping strategic initiatives.",
"type": "Mergers & Acquisitions",
"url": "https://www.paymentsjournal.com/capital-ones-brex-bargain-now-comes-the-hard-part/",
"title": "Capital One’s Brex Bargain: Now Comes the Hard Part",
"company_name": "Brex",
"publisher": "Paymentsjournal",
"published_date": "2026-01-26 00:00:00",
"source": "Google",
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"scraped_text": "Late yesterday Capital One announced that it had acquired the commercial payments and expense management fintech Brex for $5.15 billion, half in cash and half in stock. Analysts have been noting that the price is a sharp discount from Brex’s peak valuation of roughly $12 billion, suggesting this may be reflect the broader reset in fintech valuations since 2021, but also Brex’s recent slower growth. For some historical perspective, Capital One has made tremendous strides since launching its commercial card business in the 2000s, chiefly by leveraging its risk management and data wrangling abilities to replicate large market program economics for a portfolio understood to be mostly mid-market customers. Launched in 2018, Brex’s commercial card portfolio seems to have scaled as fast or faster than Capital One’s, relying in large part on the same tactic of taking enterprise program offers downmarket, but with a lure of enterprise-grade expense management and controls, as well as a digital first approach. This acquisition, along with the acquisition of the Discover network, presents tremendous opportunities for Capital One in the commercial payments space. The World’s Your Oyster, If You’ll Have It With the Brex acquisition, Capital One seems to have all the ingredients for a scaled working-capital machine: a longstanding institutional focus on industry leading underwriting, a network where they can shape both authorization and settlement economics, and now a platform with state-of-the-art spend controls and workflows, built to draw in customers focused on leading edge tech. The three parts, properly integrated, offer the potential for a uniquely differentiated platform for commercial cards and broader commercial payments. One hopes that Capital One sees the potential synergies in these two acquisitions, because they will need to be clear-eyed about the integration lift required to capture it. Taking on Brex while still onboarding Discover raises the risk of slower decisions, duplicated work, and blurred ownership. The ingredients are there, but realizing the full working-capital machine will take substantial execution. Discover has historically been oriented toward retail, suggesting less expertise in commercial working-capital product development, specifically the expertise required shape a strategy to leverage its retail focused network and sales arm into something fit-to-purpose for conversations with B2B payees. Now for the Assembly Brex’s success is largely a product of its fintech talent and operating pace. Acquisitions often see key individuals cash out, and while the principals at Brex have committed to stay, the risk is always that talented team members accustomed to fintech environments may be less inclined to want to work for a bank. A potential mitigating factor is that Capital One is not a conventional bank: it has a long track record of behaving like a disruptor, with a product and data-led operating model and a talent base that often seems equal parts fintech and banking. So Brex brings state-of-the-art platforms and a substantial installed base, Discover brings the opportunity to manage network pricing across buyers and sellers, and Capital One brings leading underwriting expertise and scale. A powerful combination of factors to be sure, but as with most acquisitions like these, success will be determined less by the pieces than by how quickly and cleanly they are assembled. 0 SHARES 0 VIEWS Share on Facebook Share on Twitter Share on LinkedIn"
},
{
"ai_summary": "Capital One is acquiring Brex for $5.15 billion, significantly less than its previous $12.3 billion valuation, prompting mixed reactions in Silicon Valley while early investors like Ribbit Capital celebrate substantial returns.",
"type": "Mergers & Acquisitions",
"url": "https://techcrunch.com/2026/01/22/capital-one-acquires-brex-for-steep-discount-to-its-peak-valuation-but-early-believers-are-laughing-all-the-way-to-the-bank/",
"title": "Capital One acquires Brex for a steep discount to its peak valuation, but early believers are laughing all the way to the bank",
"company_name": "Brex",
"publisher": "Techcrunch",
"published_date": "2026-01-26 00:00:00",
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"scraped_text": "There’s a feeling of schadenfreude in Silicon Valley when a unicorn stumbles. So when the WSJ broke the news Thursday afternoon that Capital One will acquire Brex for $5.15 billion in cash and stock (Capital One issued an official release confirming the details 30 minutes later), you could practically hear the collective snickering from Sand Hill Road to San Francisco’s South Park. That figure represents less than half of Brex’s last private-market valuation of $12.3 billion from its 2022 Series D-2 round. Before everyone sharpens their knives, consider that for the VCs who backed Brex at its outset, the sale is a triumph. Micky Malka’s Ribbit Capital, which led Brex’s $7 million Series A soon after its 2017 founding, is likely staring at a very handsome return. Reached by phone this afternoon, Malka declined to offer specifics, but as a Brex board member from the outset and the company’s biggest shareholder, he was unsurprisingly enthusiastic about the deal: “We’re excited for the team, which was one of the youngest YC teams at the time. I’ve known [the founders] since they were 16. Capital One will be a great partner, and their ability to scale [as part of the bank] is good for America.” Indeed, that early bet — Ribbit was joined by Y Combinator, Kleiner Perkins, DST Global, and individual investors including Peter Thiel and Max Levchin — has multiplied somewhere in the neighborhood of 700-fold. Even accounting for dilution across subsequent rounds, early stakeholders are walking away with the kind of gains that have long made venture capital seem like such an attractive asset class to outsiders. Still, the sting of that valuation haircut is sharper when you consider what happened to Brex’s chief rival, Ramp, during the same period. Just as Brex lost momentum several years ago, Ramp went on a tear. The competing expense management fintech has at this point raised $2.3 billion in total equity financing and saw its valuation zoom from $13 billion in March of last year to $32 billion by November across successive funding rounds. You could argue whether those kinds of paper gains across a dizzying number of financing events means that much (that’s definitely not always the case). Still, assuming Ramp is presenting a truthful picture to the world, it’s traction in undeniable. The company announced last October that it had surpassed $1 billion in annualized recurring revenue and secured more than 50,000 customers. The contrast is probably more painful for Brex’s later-stage investors, who watched a competitor lap them multiple times while they awaited an exit. The Capital One deal comes at a bit of an inflection point for Brex. Just five months ago, the company announced it had secured a license to operate in the European Union. As CEO Pedro Franceschi wrote in a blog post at the time, the move enabled Brex to “directly issue credit and debit cards and offer its spend management products to any business in all 30 EU countries with no workarounds required.” Previously, the company could only work with EU firms that maintained a U.S. presence, a significant limitation for a would-be global player. Techcrunch event Disrupt 2026 Tickets: One-time offer Tickets are live! Save up to $680 while these rates last, and be among the first 500 registrants to get 50% off your +1 pass. TechCrunch Disrupt brings top leaders from Google Cloud, Netflix, Microsoft, Box, a16z, Hugging Face, and more to 250+ sessions designed to fuel growth and sharpen your edge. Connect with hundreds of innovative startups and join curated networking that drives deals, insights, and inspiration. Disrupt 2026 Tickets: One-time offer Tickets are live! Save up to $680 while these rates last, and be among the first 500 registrants to get 50% off your +1 pass. TechCrunch Disrupt brings top leaders from Google Cloud, Netflix, Microsoft, Box, a16z, Hugging Face, and more to 250+ sessions designed to fuel growth and sharpen your edge. Connect with hundreds of innovative startups and join curated networking that drives deals, insights, and inspiration. San Francisco | REGISTER NOW For Capital One, the timing is as good as it gets. The bank, which already swallowed Discover Financial in a $35 billion deal last May, gains Brex’s tech platform and client roster — including, reportedly, TikTok, Robinhood, and Intel — as well as immediate access to European corporate banking customers through its freshly minted EU license. (TechCrunch has reached out to Brex for more information.) The $13 billion in deposits that Brex reportedly oversees at partner banks and money-market funds also presumably sweetened the pot. The founders, Brazilian entrepreneurs Pedro Franceschi and Henrique Dubugras, dropped out of Stanford as freshmen to launched Brex in 2017 after being accepted into YC’s winter 2017 “batch,” initially pitching a virtual reality concept. But they were bound to circle back to payments having sold — at the tender age of 16 — a payments processor startup in Brazil that had raised $30 million and was later acquired for more than $1 billion by one of its strategic investors. Dubugras stepped back from day-to-day operations in 2024 to serve as board chairman; Franceschi will remain CEO post-acquisition. As with nearly every startup, Brex’s path wasn’t without its stumbles. There was a questionable detour in 2019, when the then-23-year-old co-CEOs, who had never run a restaurant, bought San Francisco’s beloved South Park Cafe. The pair had envisioned Brex cardmembers dining before heading upstairs to an exclusive lounge, a timing decision that proved spectacularly lousy, when COVID-19 shut down most of San Francisco for over a year. Then, in 2022, as the macroeconomic picture darkened and VCs began demanding actual profitability from their portfolio companies, Brex made a decision that generated considerable ill will; it abandoned tens of thousands of small- and medium-size business customers, informing them their accounts would close unless they had “professional” funding from VCs, angels, or accelerators. The move, designed to focus resources on higher-margin enterprise clients and a nascent SaaS business, struck many as tone-deaf. The company that had built its reputation serving underbanked startups and was suddenly showing its champions the door (was how the move was perceived at the time). The strategy may be what positioned Brex for this exit. By concentrating on corporate clients with deeper pockets and predictable revenue streams, the company stabilized its business model, even as Ramp ramped up its fundraising. (Mercury, another competitor, also doubled its valuation to $3.5 billion with a $300 million raise last March. To steal some of the attention paid in 2025 to Ramp, Mercury more recently shared with Fortune that it had hit a rate of $650 million in annual recurring revenue.) Capital One said it expects to close the deal in the second quarter. For Brex’s later-stage investors, including TCV, GIC, Baillie Gifford, Madrone Capital Partners, Durable Capital Partners, Valiant Capital Management, and Base10, all of which invested at a $7.4 billion valuation or higher, the exit may not be quite what they hoped, but they’re still liquid, which, in today’s climate, counts for something. Pictured above: Brex co-founder and CEO Pedro Franceschi\n\nConnie Loizos Editor in Chief & General Manager\n\n\n\nYou can contact or verify outreach from Connie by emailing Loizos has been reporting on Silicon Valley since the late ’90s, when she joined the original Red Herring magazine. Previously the Silicon Valley Editor of TechCrunch, she was named Editor in Chief and General Manager of TechCrunch in September 2023. She’s also the founder of StrictlyVC, a daily e-newsletter and lecture series acquired by Yahoo in August 2023 and now operated as a sub brand of TechCrunch.You can contact or verify outreach from Connie by emailing connie@strictlyvc.com or connie@techcrunch.com , or via encrypted message at ConnieLoizos.53 on Signal. View Bio"
},
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"ai_summary": "Capital One aims to acquire Brex to leverage its payments expertise and spend management software, enhancing growth and financial solutions for businesses while utilizing Capital One's scale and advanced analytics.",
"type": "Mergers & Acquisitions",
"url": "https://fintechmagazine.com/news/ai-strategy-why-does-capital-one-want-to-acquire-brex",
"title": "AI Strategy: Why Does Capital One Want to Acquire Brex?",
"company_name": "Brex",
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"scraped_text": "Capital One is the only major US bank to migrate entirely to the public cloud. It uses proprietary data and advanced analytics to further its mission of increasing accessibility to financial tools across the US, Canada and the UK.\n\n“Together, we’ll maximise founder mode by combining Brex’s payments expertise and spend management software with Capital One’s massive scale, sophisticated underwriting, and compelling brand to accelerate growth and increase the speed at which we can offer better finance solutions to the millions of businesses in the US mainstream economy.”\n\nBy clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts. Cookie Policy Cookies Settings Reject All Accept All Cookies"
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"ai_summary": "Capital One is acquiring startup Brex for $5.15 billion, marking a significant expansion in its credit card offerings.",
"type": "Mergers & Acquisitions",
"url": "https://www.cnbc.com/2026/01/22/capital-one-is-buying-startup-brex-for-5point15-billion-in-credit-card-firms-latest-deal.html",
"title": "Capital One is buying startup Brex for $5.15 billion in credit card firm’s latest deal",
"company_name": "Brex",
"publisher": "Cnbc",
"published_date": "2026-01-26 00:00:00",
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},
{
"ai_summary": "Brex and Capital One have announced a historic $5.15B deal to combine their strengths, aiming to create the leading financial platform for businesses in the US, merging Brex's innovative fintech solutions with Capital One's vast resources and scale.",
"type": "Mergers & Acquisitions",
"url": "https://brex.com/journal/brex-and-capital-one-join-forces",
"title": "Brex is joining forces with Capital One",
"company_name": "Brex",
"publisher": "Brex",
"published_date": "2026-01-22 00:00:00",
"source": "Wokelo",
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"scraped_text": "Today, Brex and Capital One are announcing the largest bank-fintech deal in history for $5.15B, joining forces to build the most important financial platform for businesses in the US. We started Brex in 2017 by inventing a new category of company that brings together financial services and software into one platform: cards with smart controls, expenses that file themselves, accounting fully automated from the moment you swipe, and bank accounts that pay your bills. By pairing every money movement with instant control and accountability, Brex ensures every dollar moves with purpose, precision, and speed towards a company’s goals. And it is clear our vision resonated – we’re proud to serve tens of thousands of businesses today, from 1 in 3 startups in the US, to over 300+ public companies, and some of the most important enterprises on the planet. The journey of Brex and Capital One rhymes in many ways. Thirty years ago, Capital One pioneered the concept of fintech. Rich Fairbank founded the company with the idea that data and technology would revolutionize consumer credit card underwriting. And it did. Capital One became the 6th largest bank and the 3rd largest credit card in the US, and one of the most tech-forward banks in the world, serving millions of consumers and businesses. Spending time with Rich and the Capital One team, it was clear that this combination would be unlike any other bank M&A in history, because Capital One is not a normal bank. This isn’t a story about cost synergies. It’s a story about growth acceleration, about two founder-led companies coming together to bring a better way to manage money to millions of businesses in the mainstream US economy, who are dramatically underserved by traditional banks. To give you a sense of the scale of what we’ll build together, Capital One today operates orders of magnitude ahead of Brex on almost any metric: $900B in annual card GMV, $700B in assets, $150B in market cap, a $6B marketing budget, and a $6B R&D budget. By combining Brex’s technology, product, and go-to-market success with Capital One’s unprecedented scale, brand, distribution, and balance sheet, we will supercharge our go-to-market and product development with levels of investment that will accelerate our mission by over a decade. As I got to know the Capital One team, I was so impressed by their humility, ambition, intellectual rigor, and deep respect for technology. The mutual admiration and cultural overlap with Brex was striking from day 1. Both of us share an appreciation for building things the way they should work, not taking shortcuts, and painstakingly building from the bottom of the stack up – even if it means being misunderstood for a long time. Just as we invested seven years in building the only global card-issuing infrastructure that can power local cards in 50+ countries, Capital One spent two decades reinventing consumer underwriting using machine learning across credit cards and auto loans. It requires a special kind of culture, team, and founder DNA to repeatedly and boldly invest ahead of others. Upon regulatory approvals and closing of this transaction, Brex will become part of Capital One. But instead of fully integrating our businesses, Rich and I decided to take a different approach. I will continue to lead Brex, pursuing our same mission with Ben Gammell and our leadership team, and I will report to Frank LaPrade. Frank’s mission will be to leverage every part of Capital One to co-create with me the most ambitious plan to accelerate our business. I couldn’t think of a better person to help us with this. Frank is an exceptionally smart and humble leader who runs big parts of Capital One, including the engineering and marketing organizations, and has been at the company for 30 years. What this means is continuity in how we operate today, with access to far greater resources over time. Almost exactly two years ago, I asked you to embark with me on the journey of reaccelerating growth with Brex 3.0, and earn the right to be ambitious again. We all know how hard it was to get here, and how the journey profoundly transformed the company and each one of us for the better. Perhaps the most special part of today is being able to tell you it was all worth it. Not only did we succeed in making Brex an exceptional company again, but in doing so, we earned the right to forever cement Brex’s place in the US financial system and continue transforming how businesses manage their money for decades to come. I’m a builder at heart, and nothing is more rewarding for a builder than to watch their creation outscale and outlast their wildest dreams. Building Brex with each one of you has been the proudest accomplishment of my life. I am just so grateful to each of you, our customers, investors, advisors, ex-employees, mentors, my wife, family and friends who helped us get here. 2026 marks my 15th year in fintech (over half of my life!), and I believe the years ahead scaling Brex in this unique setup will be the most impactful years of my career. I am so grateful to Rich, Frank, and the Capital One team for giving us the opportunity to play this game at an unprecedented level of scale and ambition. We started Brex with the idea of Dreaming Big, and I’m so excited to work with Capital One on a dream that’s bigger than it's ever been. Onwards! Pedro"
},
{
"ai_summary": "Brex has launched an AI-native Accounting API to automate accounting workflows and integrate seamlessly with ERP systems, enhancing efficiency by enabling real-time data flow and eliminating manual reconciliation. This innovation aims to provide finance teams with accurate, audit-ready data and expedite month-end closing processes.",
"type": "Product Launches & Enhancements",
"url": "https://brex.com/journal/press/brex-launches-ai-native-accounting-api",
"title": "Brex Brings AI-Native Accounting Automation to ERPs",
"company_name": "Brex",
"publisher": "Brex",
"published_date": "2026-01-21 00:00:00",
"source": "Wokelo",
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"scraped_text": "SAN FRANCISCO, January 21, 2026 — Brex, the intelligent finance platform, today announced a new AI-native Accounting API designed to automate accounting workflows end-to-end and enable deeper, real-time integrations with enterprise resource planning (ERP) systems and other key integration partners. Brex’s Accounting API goes beyond traditional bank-feed integrations by enabling two-way data flow between Brex and ERPs. This enables teams to harness Brex’s rich transaction data, capturing the information they need upfront and pushing it to their ERP in real time. The result is end-to-end accounting automation, improved accuracy, and a faster month-end close. The Accounting API will first launch with Rillet and Campfire, two of the leading AI-native ERPs. Today, most finance teams still rely on batch exports, CSV uploads, and manual reconciliation to manage accounting workflows. These processes introduce delays, missing context, and errors that compound at month-end, making it difficult for finance leaders to trust their data or operate strategically. Brex’s AI-native Accounting API is built to remove these gaps by keeping accounting data continuously synchronized and automatically executing accounting work as transactions happen, rather than waiting until the close, no matter what ERP the company is closing their books in. “With accounting, accuracy and speed can’t be trade-offs,” said James Reggio, CTO of Brex. “Our AI-native Accounting API brings intelligent automation and real-time, enriched data to finance teams and their ERP partners, executing work like coding transactions and preparing exports on their behalf so they can close the books faster with confidence.” The Brex Accounting API unlocks: Two-way data sync to capture all accounting data finance teams need upfront, and nothing they don't. Key accounting fields flow from ERPs into Brex so all policy is enforced with business context captured at the point of transaction.\n\nto capture all accounting data finance teams need upfront, and nothing they don't. Key accounting fields flow from ERPs into Brex so all policy is enforced with business context captured at the point of transaction. Real-time webhooks and expanded endpoints that notify accounting systems the moment transactions happen, eliminating batch processing and manual updates.\n\nthat notify accounting systems the moment transactions happen, eliminating batch processing and manual updates. Deep integration with Brex's Accounting AI workflows and automations, allowing finance teams to automate the entire accounting process, from swipe to close. \"The manual month-end close is a relic,” said Rillet's founder and CEO Nicolas Kopp. “At Rillet, we believe in the zero-day close. By pairing Brex’s real-time data with Rillet’s automation engine, your ledger is always current from prepaids to accruals to multi-entity consolidation. Your finance team can start acting on audit-ready financials in real time.\" \"As we continue to support more rapidly growing and public companies, our integration with Brex represents the future they need: rich transaction data flowing in real time, with zero manual reconciliation,\" said John Glasgow, founder and CEO at Campfire. \"Every finance team can have enterprise-grade power without the complexity.\" In addition to the Accounting API, Brex also recently introduced new AI-driven accounting capabilities designed to further eliminate manual work and reduce errors: Accounting Workflows: New Brex workflows can automatically prepare and send expenses to ERPs without human intervention. In just the first few months, customers have already eliminated 10,000+ hours of manual work.\n\nNew Brex workflows can automatically prepare and send expenses to ERPs without human intervention. In just the first few months, customers have already eliminated 10,000+ hours of manual work. AI-Driven Expense Coding : Brex AI continuously learns and suggests the best value for every field employees have to fill in. In addition, Brex AI identifies patterns and suggests rules and mappings for perfect accuracy and control in auto-coding expenses.\n\n: Brex AI continuously learns and suggests the best value for every field employees have to fill in. In addition, Brex AI identifies patterns and suggests rules and mappings for perfect accuracy and control in auto-coding expenses. ERP Validation Rules: Brex can now automatically understand data constraints coded within ERP systems and enforce them within Brex to ensure expenses are coded correctly from the start. Together, these capabilities help finance teams maintain audit-ready data at all times and turn month-end close into a predictable, continuous process."
},
{
"ai_summary": "Fifth Third Bank and Brex have formed a multi-year partnership to create an AI-powered finance platform for commercial banking clients, unlocking $5.6 billion in annual commercial card volume and enhancing operational efficiency through automation and intelligent finance solutions.",
"type": "Partnerships & Alliances",
"url": "https://finance.yahoo.com/news/fifth-third-brex-partner-bring-130000158.html",
"title": "Fifth Third and Brex Partner to Bring AI-Powered Finance to Businesses, Unlocking $5.6B in Commercial Card Volume",
"company_name": "Brex",
"publisher": "Yahoo",
"published_date": "2025-12-10 00:00:00",
"source": "Google",
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"scraped_text": "CINCINNATI & SAN FRANCISCO, December 09, 2025--(BUSINESS WIRE)--Fifth Third Bank (NASDAQ: FITB), a pioneer in financial innovation known for improving the lives of its customers, and Brex, the intelligent finance platform, today announced a multi-year partnership that unlocks $5.6 billion in annual commercial card payment volume. Built on Brex Embedded, Brex’s proprietary API-driven payments infrastructure, the Fifth Third Commercial Card powered by Brex will become the default commercial card solution for Fifth Third Bank’s Commercial Banking clients. The partnership will enable Brex to bring modern, AI-native finance to Fifth Third’s Commercial Banking businesses. Through the Fifth Third Commercial Card powered by Brex, the bank’s Commercial clients will gain access to Brex’s intelligent finance software platform where they can issue corporate cards, automate expense management and make secure, real-time payments. They will also benefit from Brex’s AI agents that automate complex workflows end-to-end to close the books faster, reduce manual review and control spend. \"The future of business demands financial platforms that do more than process payments—they must power growth,\" said Tim Spence, Chairman, CEO and President of Fifth Third Bank. \"Our partnership with Brex is a commitment to redefine how companies leverage financial technology. By combining the strength of a leading bank with Brex’s AI-driven innovation, we’re creating intelligent solutions that simplify complexity, drive efficiency and enable businesses to scale globally with confidence.\" \"Fifth Third Bank shares our belief that every business deserves financial tools that work and act intelligently on their behalf,\" said Pedro Franceschi, CEO of Brex. \"By gaining access to roughly 8% of the U.S. commercial banking sector through a single partner, we’re delivering agentic finance solutions at an unprecedented scale. Together, we’re giving commercial teams the automation, speed, and accuracy they need, all seamlessly connected to the financial institution they already trust.\" Redefining the Commercial Experience For decades, commercial businesses have faced the same persistent challenges as finance teams everywhere: limited visibility into company spend, rigid systems that fail to scale and countless hours lost to manual processes. Without modern AI-powered infrastructure, teams have been forced to track expenses and reconcile budgets by hand—an inefficient, error-prone approach that slows growth and increases risk.\n\nStory Continues\n\n\"This partnership changes everything. By combining Fifth Third Bank’s financial strength with Brex’s AI-driven technology, we’re delivering an intelligent platform that automates workflows, enhances visibility and eliminates manual processes. Businesses gain real-time insights, global scalability and finance tools that work proactively on their behalf—freeing teams to focus on strategy, not spreadsheets. We’re introducing a new standard for speed, accuracy and control in commercial finance,\" said Bridgit Chayt, Head of Commercial Payments, Fifth Third. \"Brex can now bring AI-native finance to far more of the commercial businesses that power our economy thanks to our partnership with Fifth Third Bank,\" said Art Levy, Chief Business Officer at Brex. \"With automated spend controls, real-time visibility, and receipts and accounting handled by AI, their finance teams can finally eliminate the manual work that slows them down and close their books faster than ever. Together, we're helping tens of thousands of businesses run with more efficiency and confidence.\" Brex will be deployed across all markets where Fifth Third operates, ensuring businesses nationwide gain access to next-generation financial tools. Companies can operate smarter, grow faster and compete globally with confidence. About Fifth Third Fifth Third is a bank that’s as long on innovation as it is on history. Since 1858, we’ve been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it’s one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere’s World’s Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is not only to be the nation’s highest performing regional bank, but to be the bank people most value and trust. Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the NASDAQ® Global Select Market under the symbol \"FITB.\" Investor information and press releases can be viewed at www.53.com. About Brex Brex is the intelligent finance platform built for speed and control. Combining corporate cards, banking, treasury, expense management, bill pay, travel, and accounting, Brex helps companies spend smarter and move faster in 120 countries. By integrating AI across every workflow, Brex enables founders and finance teams to eliminate manual work, do more with less, and accelerate impact. More than 35,000 companies from startups to enterprises run on Brex, including Anthropic, Arm, ServiceTitan, and Robinhood. Learn more at brex.com. Category: Other View source version on businesswire.com: https://www.businesswire.com/news/home/20251209555474/en/ Contacts Fifth Third\n\nAdrienne Gutbier (Media Relations)\n\nadrienne.gutbier@53.com | 513-534-8038\n\nMatt Curoe (Investor Relations)\n\nmatthew.curoe@53.com | 513-534-2345\n\nBrex\n\nDanielle Bereznak\n\npress@brex.com"
},
{
"ai_summary": "Fifth Third Bank has formed a multiyear partnership with Brex to integrate its payments infrastructure, enhancing the bank's commercial card offerings with AI-driven automation and modern spend management tools for its business clients.",
"type": "Partnerships & Alliances",
"url": "https://finovate.com/fifth-third-bank-embeds-brexs-payments-infrastructure/",
"title": "Fifth Third Bank Embeds Brex’s Payments Infrastructure",
"company_name": "Brex",
"publisher": "Finovate",
"published_date": "2025-12-10 00:00:00",
"source": "Wokelo",
"author": "",
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"scraped_text": "Back to Blog Fifth Third Bank Embeds Brex’s Payments Infrastructure\n\nBrex and Fifth Third Bank have entered a multiyear partnership that uses Brex Embedded to power the bank’s new commercial card, bringing modern spend management and AI-driven automation to Fifth Third’s commercial clients.\n\nThe integration gives businesses access to Brex’s finance platform, enabling real-time payments, automated expense workflows, corporate card issuance, and AI agents that streamline closing the books and controlling spend.\n\nThe partnership is strategically significant for both sides. It expands Brex’s reach into established commercial banking while helping Fifth Third differentiate itself with an AI-powered alternative to legacy expense management tools. Corporate card and expense management fintech Brex announced a new partnership with Fifth Third Bank this week. In the multiyear agreement, Fifth Third will leverage Brex Embedded, Brex’s API-driven payments infrastructure to power the Fifth Third Commercial Card. Through the integration, Fifth Third’s commercial clients will gain access to Brex’s finance software platform that will enable them to issue corporate cards, automate expense management, and make secure, real-time payments. Customers can also use Brex’s AI agents that automate complex workflows to close the books faster, reduce manual review, and control spending. “The future of business demands financial platforms that do more than process payments—they must power growth,” said Fifth Third Chairman, CEO, and President Tim Spence. “Our partnership with Brex is a commitment to redefine how companies leverage financial technology. By combining the strength of a leading bank with Brex’s AI-driven innovation, we’re creating intelligent solutions that simplify complexity, drive efficiency, and enable businesses to scale globally with confidence.” For a long-standing, traditional financial institution like Fifth Third, this partnership will bring modern, AI-powered technology into its commercial banking business. The new commercial card will become the default commercial card solution for the bank’s commercial clients. “This partnership changes everything. By combining Fifth Third Bank’s financial strength with Brex’s AI-driven technology, we’re delivering an intelligent platform that automates workflows, enhances visibility and eliminates manual processes,” said Fifth Third’s Head of Commercial Payments Bridgit Chayt. “Businesses gain real-time insights, global scalability and finance tools that work proactively on their behalf—freeing teams to focus on strategy, not spreadsheets. We’re introducing a new standard for speed, accuracy and control in commercial finance.” Brex was founded in 2017 to create a digital-first business banking solution. The company offers business bank accounts with credit cards that have built-in rewards, spend controls, and expense tracking. The accounts provide businesses access to their online revenue, billpay tools, and integration with popular accounting tools. Brex quickly rose to prominence in the fintech space after positioning itself as a digital bank account and card offering for startups. The company sought to solve pain points that often come with corporate cards, including lengthy approval processes and restrictive credit limits. Within just two years, Brex managed to raise billions of dollars in funding and achieve unicorn status. In 2022, however, as Brex sought to expand its client base from small businesses to larger, venture-backed firms, the company experienced a downward shift. In pivoting toward this target market, Brex discontinued some of its services geared toward small businesses, many of which were the fintech’s original customers. This pivot required some of Brex’s original small business clients to leave to seek alternative solutions. Despite the dip, Brex remains a major player in the fintech space, serving “tens of thousands of businesses” ranging from small private companies to large public brands, including Airbnb and ClassPass. For Brex, the partnership is strategically significant. After years of repositioning toward larger, venture-backed firms, embedding its technology inside a major US bank gives the company a new distribution channel and a path to reach established commercial clients. For Fifth Third, the partnership serves as a differentiating factor from peers that still rely on dated expense management tools and manual workflows. Overall, the partnership raises expectations across the commercial banking category. Photo by Karola G Views: 529"
},
{
"ai_summary": "Fifth Third Bank partners with Brex to modernize $5.6 billion in commercial banking using AI-driven automation, replacing outdated systems and enhancing financial services for businesses. This collaboration aims to streamline workflows and expand global scalability, transforming traditional banking into intelligent, automated solutions.",
"type": "Partnerships & Alliances",
"url": "https://www.ohiotechnews.com/fifth-third-brex-ai-partner-business-banking/",
"title": "Fifth Third and Brex bring AI to modernize $5.6 billion in business banking",
"company_name": "Brex",
"publisher": "Ohiotechnews",
"published_date": "2025-12-10 00:00:00",
"source": "Google",
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"scraped_text": "Fifth Third Bank is bridging the gap to Silicon Valley, partnering with Brex to apply AI-native finance to $5.6 billion in commercial spend. The deal replaces legacy friction with intelligent automation, allowing businesses to kill the spreadsheet and scale globally with confidence.\n\nFifth Third Bank is bridging the gap between traditional institutional banking and Silicon Valley speed, announcing a major multi-year partnership today with intelligent finance platform Brex.\n\nThe deal will see the Cincinnati-based bank deploy \"Brex Embedded\"—a proprietary API-driven infrastructure—to power its commercial card offerings. The partnership effectively unlocks $5.6 billion in annual commercial card payment volume, aiming to replace legacy banking friction with AI-native automation. Brex technology will be deployed across all markets where Fifth Third operates.\n\nWhy it matters\n\nThis partnership represents a significant shift in how regional banking giants are competing in the modern fintech landscape. Rather than building proprietary spend management software from scratch, Fifth Third is integrating best-in-class technology to instantly modernize its offering for commercial clients.\n\nFor Brex, the deal provides immediate access to a massive slice of the legacy market.\n\nthe deal provides immediate access to a massive slice of the legacy market. For Fifth Third, it transforms a standard financial product into a software-led solution capable of automating complex workflows.\n\nThe details\n\nUnder the agreement, the \"Fifth Third Commercial Card powered by Brex\" will become the default solution for the bank’s Commercial Banking clients.\n\nThis integration goes beyond simple payments. Fifth Third clients will gain access to Brex’s broader financial software stack, which includes:\n\nAI Agents: Tools that automate end-to-end workflows to close books faster and reduce manual review.\n\nTools that automate end-to-end workflows to close books faster and reduce manual review. Spend Management: Real-time visibility into company expenses and automated receipt matching.\n\nReal-time visibility into company expenses and automated receipt matching. Global Scalability: Capabilities to issue corporate cards and manage spend across borders.\n\nWhat they’re saying\n\nTim Spence, Chairman, CEO, and President of Fifth Third, positioned the move as a necessity for future growth.\n\n\"The future of business demands financial platforms that do more than process payments—they must power growth,\" Spence said. \"By combining the strength of a leading bank with Brex’s AI-driven innovation, we’re creating intelligent solutions that simplify complexity, drive efficiency and enable businesses to scale globally with confidence.\"\n\n\"98% of businesses in our country are still using legacy corporate cards,\" added Pedro Franceschi, Founder and CEO of Brex. \"What began as a card for startups has become a full-stack intelligence platform for finance, now serving 300+ public companies and tens of thousands of mid-sized businesses.\"\n\nWhat's next\n\nFor decades, commercial finance has been defined by a persistent friction: the wall between banking transactions and accounting data. This disconnect has forced finance teams into a cycle of manual reconciliations and reliance on rigid systems that struggle to scale with growth.\n\nBy integrating Brex across its entire footprint, Fifth Third is moving to eradicate this \"spreadsheet fatigue.\" The deployment signals a broader shift in regional banking, moving away from static payment products toward interoperable, automated financial infrastructure that serves clients nationwide."
},
{
"ai_summary": "Ramp has secured a remarkable $32 billion valuation after raising $300 million in funding, significantly up from $13 billion earlier in the year, as it expands its expense management platform to include a wide range of financial services and showcases advancements in AI, all while remaining profitable in a cooling fintech market.",
"type": "Executive Commentary & Interviews",
"url": "https://www.tradingview.com/news/invezz:08fe8d4f4094b:0-why-are-investors-valuing-ramp-at-32b-in-a-cooling-fintech-market/",
"title": "Why are investors valuing Ramp at $32B in a cooling fintech market?",
"company_name": "Brex",
"publisher": "Tradingview",
"published_date": "2025-12-10 00:00:00",
"source": "Google",
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"scraped_text": "In a fintech landscape where most startups are struggling to maintain valuations, Ramp has somehow convinced investors to keep throwing bigger money at increasingly astronomical prices. The corporate expense management platform just closed a $300 million funding round led by Lightspeed that valued it at $32 billion, a staggering 42 percent jump from just three months earlier. What’s truly remarkable isn’t just the size of the valuation jump, but the sheer frequency of Ramp’s fundraising. The company has raised money multiple times in 2025 alone, starting at $13 billion in March and rocketing to $32 billion by November. While the broader fintech market remains in recovery mode, Ramp is executing what might be the most aggressive valuation sprint in startup history. From expense management to ‘autonomous finance’ Ramp began in 2019 as a corporate card challenger to Brex. The company offered something simple: help businesses spend smarter and faster. But over the past few years, Ramp transformed itself into something far more ambitious. Today, it’s a full-stack financial operations platform handling corporate cards, expense management, bill payments, procurement, travel booking, accounting automation, and treasury services. This expansion explains much of the valuation momentum. The company now claims over 50,000 customers processing tens of billions of dollars annually. By October 2025, Ramp had crossed $1 billion in annualized revenue, a stunning achievement for a six-year-old company. The breadth of its product suite means customers increasingly stick around. Ramp reports that roughly half its customers use two or more products across the platform, which creates stickiness and reduces churn risk. But revenue growth isn’t the only story driving valuations. Ramp has become increasingly vocal about AI. In July, the company introduced its first AI agents designed to automatically review expenses, flag fraud, update policies, and project cash needs without human involvement. Ramp is framing this as “autonomous finance,” a vision where AI handles work that previously demanded whole teams. Finance leaders report that monthly closes have sped up by as much as 8x and out-of-policy spending detection has improved 15x. Whether or not this pans out, the AI narrative alone has become catnip for venture capital in 2025. Why this valuation makes sense in context The $32 billion valuation isn’t happening in a vacuum. Ramp reportedly commands 1.5 percent of the addressable US market for corporate spend management, meaning 98.5 percent remains untapped. With fresh capital, the company is aggressively expanding its sales and marketing footprint to capture that opportunity. Equally important is Ramp’s competitive moat. While competitors like Brex haven’t stood still, Ramp’s integrated platform approach has proven harder to replicate. Offering cards plus procurement plus travel plus expense management plus treasury creates a gravitational pull that point solutions simply can’t match. Switching costs climb as customers embed Ramp more deeply into their financial workflows. The investor consortium backing this round is telling. Lightspeed led a group of investors, including Founders Fund, Coatue, D1 Capital, Thrive Capital, and others who had already backed previous rounds. The breadth signals confidence that Ramp has staying power. Many of these investors also bring operational expertise and network access that matter beyond just capital. Ramp also managed something most fintech startups couldn’t during the 2022-2023 downturn: it became profitable and cash-flow positive. The company took a modest valuation cut in late 2023 but then disciplined its spending and executed. That combination: real profitability plus rapid growth, is extremely rare in venture-backed fintech. That vertical alone could represent billions in incremental revenue if scaled. The brutal truth is that Ramp’s $32 billion valuation reflects both genuine progress and investor euphoria. The company has built something real with genuine defensibility. But at this valuation, growth and execution will need to remain flawless. "
},
{
"ai_summary": "OpenAI's spending on Brex surged 80% from January to October, driven by a 25% increase in unique customers, highlighting its fast growth in the AI sector as it expands its offerings and moves deeper into enterprise solutions.",
"type": "Product Launches & Enhancements",
"url": "https://brex.com/journal/brex-benchmark-october-2025",
"title": "The AI infrastructure shift: Why OpenAI spend is up 80% on Brex",
"company_name": "Brex",
"publisher": "Brex",
"published_date": "2025-11-11 00:00:00",
"source": "Wokelo",
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"scraped_text": "The Brex Benchmark is a monthly snapshot of the top software and AI vendors by dollar spend using Brex. With 30,000+ customers spending billions of dollars on Brex, we have an inside look at the top tools driving modern business. The methodology includes Brex card and bill pay transactions. \"Startups\" are companies with under 250 employees, and \"enterprises\" are those with 250+ employees. From chatbot curiosity to platform strategy, OpenAI shows no signs of slowing. OpenAI hit 1 million business customers in November, the fastest-growing business platform ever, after reaching 800 million weekly consumer users in October — which CEO Sam Altman said is more than double since early 2025. That hyper-growth is mirrored in Brex data. The number of unique customers spending on OpenAI grew 25% from January through October, and OpenAI spend across Brex customers grew 80% over the same period. This growth came from an expansion in spending from existing customers, with startups spiking in their usage of ChatGPT’s API offerings. OpenAI continues to release ChatGPT models at a fast pace, but “chat” is the mechanism, not the product. The real growth now lies in coding APIs, embedded workflows, long-document processing, and enterprise AI agents. Each release this year has expanded OpenAI’s footprint inside businesses: February 2025: GPT-4.5 (“Orion”) refined reasoning and multi-step planning.\n\nGPT-4.5 (“Orion”) refined reasoning and multi-step planning. April 2025: GPT-4.1 API brought longer context windows and deep app integrations.\n\nGPT-4.1 API brought longer context windows and deep app integrations. May 2025: Codex launched as a cloud-based software engineering agent, embedding AI directly into dev workflows.\n\nCodex launched as a cloud-based software engineering agent, embedding AI directly into dev workflows. August 2025: GPT-5 arrived, enabling multimodal reasoning across text, voice, and vision.\n\nGPT-5 arrived, enabling multimodal reasoning across text, voice, and vision. October 2025: ChatGPT Atlas, an in-browser assistant, blurs the line between web navigation and work automation. Every release represents a new business opportunity for OpenAI. More API usage, more seats, and deeper embedding in day-to-day operations. And while startups drove the early wave of AI adoption, enterprises are catching up. Brex data shows enterprise OpenAI spend up 20% MoM, which aligns with OpenAI’s broader push into the corporate market: strategic partnerships, enterprise app integrations, and long-term infrastructure deals. As companies like Amazon, Microsoft, and Workday cut headcount this year to shift resources toward AI and automation, the momentum (and dollars) appear to be flowing straight to OpenAI. Read AI has entered the enterprise chat. Enterprises are consolidating around a few core AI vendors like OpenAI and Anthropic, which makes Read AI’s rise as the lone newcomer in the enterprise Top 10 all the more impressive. The productivity tool summarizes meetings, emails, and messages into actionable insights. Led by founder David Shim, Read AI recently raised a $50M Series B after a $21 M Series A in 2024, backed by Smash Capital, Goodwater, and Madrona. Its rapid enterprise adoption suggests it’s becoming a credible force in a segment that rarely makes room for new AI platforms. Startup AI tools, meanwhile, saw strong month-over-month growth (+25%), with 9 of 10 tools seeing increased spend in October. Growth was led by OpenAI (+51%), Deepgram (+127%), and ElevenLabs (+37%), signaling a deeper integration of AI in coding, voice, and infrastructure, as well as a clear shift away from creative tools. Enterprises reopen their ad wallets for X. X Corp is showing a rebound in its ad business. Industry forecasts project a 17.5% increase in US ad revenue in 2025, which would be its first annual growth since the Musk takeover. Brex data shows enterprise spending on X jumped 30% month-over-month in October and 235% since July, pushing it into the enterprise top 10 for the first time. Startups also boosted ad budgets across Google (+20%) and Meta (+10%), signaling a broader pivot toward ROI-driven, attention-dense channels. Low ad costs and improved infrastructure seem to be fueling advertisers’ return to X. According to Hootsuite’s 2025 benchmarks, X’s CPM (~$2.09) sits well below Meta and LinkedIn, giving advertisers cheaper performance reach. The company has also rebuilt its ad stack, adding brand-safety integrations with DoubleVerify and Integral Ad Science, to restore enterprise confidence. In the Brex dataset, X is clawing back share in a market that demands cost-efficient, higher-engagement impressions. Other trends in Brex’s SaaS data: Developer and infrastructure spend climbed among enterprises, driven by spikes in Snowflake (+510%) and JetBrains (+100%), marketing and creative tools like HubSpot and Adobe saw noticeable pullbacks.\n\nand marketing and creative tools like and saw noticeable pullbacks. Zoom spending jumped 20%, suggesting hybrid work investments remain steady. Brex data suggests a curation trend: companies are trimming seat-based licenses where they can and pruning redundant tools in favor of platforms that scale. Coming next month: Check back in to The Brex Benchmark next month for some fascinating insights in our end-of-year wrap. Sumeet Marwaha is the Head of Data at Brex, supporting Brex in understanding how customers spend, adopt tools, and grow their businesses. All analysis conducted for this report that uses Brex internal customer data is anonymized and aggregated for privacy. To learn more about how we use data in anonymized or aggregated form for these trend reports, email us at privacy@brex.com."
},
{
"ai_summary": "Coupa has launched the Coupa Card, a new virtual card solution that integrates seamlessly into the Coupa Pay platform, enhancing management of supplier payments and employee expenses with features like tap-to-pay, advanced spend control, and real-time tracking, ultimately streamlining workflows and reducing fraud.",
"type": "Partnerships & Alliances",
"url": "https://www.prnewswire.com/news-releases/new-coupa-card-transforms-how-organizations-seamlessly-manage-supplier-payments-and-employee-expenses-302606462.html",
"title": "New Coupa Card Transforms How Organizations Seamlessly Manage Supplier Payments and Employee Expenses",
"company_name": "Brex",
"publisher": "PR Newswire",
"published_date": "2025-11-06 00:00:00",
"source": "Wokelo",
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"scraped_text": "New virtual card from the procurement software industry leader includes tap-to-pay for improved visibility, control, and compliance across the entire source-to-pay lifecycle FOSTER CITY, Calif., Nov. 6, 2025 /PRNewswire/ -- Coupa , the leading AI platform for total spend management, today announced the launch of Coupa Card , a new virtual card solution embedded natively within Coupa Pay that helps organizations seamlessly manage both supplier payments and employee expenses through a singular source. The Coupa Card delivers advanced capabilities for enhanced spend control, real-time tracking, and security across total business spend – allowing organizations to reduce the risk of fraud, streamline workflows, and optimize working capital. It gives businesses a transparent and simplified way to manage supplier payments and employee expenses through the Coupa platform. \"Businesses need modern, seamless and easy-to-adopt payment methods, and Coupa Card does just that. It delivers tightly integrated and automated virtual card application, underwriting, issuance, spend control, and reconciliation directly within the Coupa platform,\" said Salva Lombardo, Chief Product and Technology Officer, Coupa. \"Coupa Card is not just another virtual card given its powerful reach and capability. By embedding it inside our unique end-to-end platform it is a singular card that can manage spend across the entire S2P process and will help companies achieve autonomous, frictionless spend and trade within a constantly learning and adapting AI network.\" Coupa Card, powered by Brex, will be accepted across the global Mastercard payment network, giving businesses a simplified and transparent way to manage supplier payments and employee expenses directly through the centralized Coupa Pay platform. Leveraging Mastercard's global acceptance network, Coupa Card enables businesses to transact securely and seamlessly with millions of suppliers worldwide — delivering scale, reliability, and reach across every corner of the procurement ecosystem. \"At Montrose, we're continually investing in technologies that simplify processes and empower our people to do their best work. As we advance our Coupa implementation, the Coupa Card program represents the kind of innovation we look for — deeply integrated, intuitive solutions that enhance both efficiency and the employee experience. Features like tap-to-pay will make it even easier for our colleagues in the field to serve our clients seamlessly,\" said Dan Gerard, SVP, Business Services, Montrose Environmental Group, Inc. \"Coupa Card unifies the fragmented world of B2B supplier payments and employee expenses into a singular, flexible solution natively embedded in the spend management workflow. The ability to use one virtual card across such diverse use cases delivers meaningful value to customers seeking control and simplification,\" said Kevin Permenter, Senior Research Director, Financial Applications and Agents at IDC. \"Integrating modern features like tap-to-pay ensures a seamless user experience, driving high employee adoption while giving finance and procurement teams the real-time visibility and control they need across their business spend.\" Among the many benefits Coupa Card provides: Gives Employees the Power to Move Business Forward, Fast : Coupa Card empowers employees to make secure, hassle-free payments anytime, anywhere using tap-to-pay virtual cards integrated into Apple Pay and Google Pay digital wallets.\n\n: Coupa Card empowers employees to make secure, hassle-free payments anytime, anywhere using tap-to-pay virtual cards integrated into Apple Pay and Google Pay digital wallets. Visibility into All Business Transactions with a Single Card : Coupa Card supports a wide range of diverse use cases, including supplier payments against purchase orders and invoices, ghost card payments for high-volume suppliers, recurring business subscriptions, and employee expenses like travel and entertainment.\n\n: Coupa Card supports a wide range of diverse use cases, including supplier payments against purchase orders and invoices, ghost card payments for high-volume suppliers, recurring business subscriptions, and employee expenses like travel and entertainment. Spending Controls : Coupa Card will include custom controls such as spend limits, expiration dates, and approval workflows – enabling finance and procurement teams to configure cards by user, project, or department. This minimizes fraud and out-of-policy spend, while future updates will enforce policy at the point of spend by flagging or stopping transactions at the time of purchase.\n\n: Coupa Card will include custom controls such as spend limits, expiration dates, and approval workflows – enabling finance and procurement teams to configure cards by user, project, or department. This minimizes and out-of-policy spend, while future updates will enforce policy at the point of spend by flagging or stopping transactions at the time of purchase. Issue Cards in Hours, Not Weeks : Coupa Card offers a seamless, end-to-end process for virtual card management, including application, underwriting, onboarding, card issuance, reconciliation, and statement management – all handled within the Coupa platform. This significantly reduces the traditional setup time from weeks or months to hours.\n\n: Coupa Card offers a seamless, end-to-end process for virtual card management, including application, underwriting, onboarding, card issuance, reconciliation, and statement management – all handled within the Coupa platform. This significantly reduces the traditional setup time from weeks or months to hours. Automate Payments with Enhanced Compliance: Coupa Card delivers a secure, compliant, and seamless payment experience for users. Autonomous reconciliation services save businesses time and money. \"With Coupa Card, powered by Brex, U.S. customers with global operations can get underwritten and approved in just a few days and issue local cards in 30 currencies across 50 countries, helping their teams go live faster and scale globally without friction,\" said Art Levy, Chief Business Officer of Brex. Scott Abrahams, Global Head of Commercial Verticals for Mastercard, said, \"Mastercard is on a mission to make payments smarter and businesses stronger by embedding our capabilities directly into the platforms where commerce happens. With Coupa Card, we're combining the power of our global acceptance network with a seamless, embedded experience — helping organizations simplify supplier payments, control spend, and unlock working capital with speed, security, and scale.\" Learn more about how Coupa Card can help businesses manage supplier payments and employee expenses. Additional Resources Download the Coupa Card data sheet Availability Coupa Card is currently in limited availability for U.S. based companies, with global general availability expected in Q1 2026. About Coupa\n\nCoupa is the leading AI platform for total spend management. Using its trusted, community-generated, $8 trillion dataset, Coupa brings autonomous AI agents, a network of 10M+ buyers and suppliers, and leading apps together on one unified platform to seamlessly automate the buying process and connect to customers in a whole new way. With Coupa, you'll make margins multiply™. Learn more at coupa.com and follow us on LinkedIn and X (Twitter) . SOURCE Coupa Software"
},
{
"ai_summary": "The new Coupa Card, launched by Coupa, is a virtual card solution that integrates into Coupa Pay, enabling organizations to manage supplier payments and employee expenses efficiently. With features like tap-to-pay, enhanced spend control, and real-time tracking, it streamlines the payment process and improves transparency across the source-to-pay lifecycle.",
"type": "Partnerships & Alliances",
"url": "https://www.morningstar.com/news/pr-newswire/20251106sf17032/new-coupa-card-transforms-how-organizations-seamlessly-manage-supplier-payments-and-employee-expenses",
"title": "New Coupa Card Transforms How Organizations Seamlessly Manage Supplier Payments and Employee Expenses",
"company_name": "Brex",
"publisher": "Morningstar.com",
"published_date": "2025-11-06 00:00:00",
"source": "Wokelo",
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"scraped_text": "New Coupa Card Transforms How Organizations Seamlessly Manage Supplier Payments and Employee Expenses Provided by PR Newswire\n\nNew Coupa Card Transforms How Organizations Seamlessly Manage Supplier Payments and Employee Expenses PR Newswire FOSTER CITY, Calif., Nov. 6, 2025 New virtual card from the procurement software industry leader includes tap-to-pay for improved visibility, control, and compliance across the entire source-to-pay lifecycle FOSTER CITY, Calif., Nov. 6, 2025 /PRNewswire/ -- Coupa, the leading AI platform for total spend management, today announced the launch of Coupa Card, a new virtual card solution embedded natively within Coupa Pay that helps organizations seamlessly manage both supplier payments and employee expenses through a singular source. The Coupa Card delivers advanced capabilities for enhanced spend control, real-time tracking, and security across total business spend – allowing organizations to reduce the risk of fraud, streamline workflows, and optimize working capital. It gives businesses a transparent and simplified way to manage supplier payments and employee expenses through the Coupa platform. \"Businesses need modern, seamless and easy-to-adopt payment methods, and Coupa Card does just that. It delivers tightly integrated and automated virtual card application, underwriting, issuance, spend control, and reconciliation directly within the Coupa platform,\" said Salva Lombardo, Chief Product and Technology Officer, Coupa. \"Coupa Card is not just another virtual card given its powerful reach and capability. By embedding it inside our unique end-to-end platform it is a singular card that can manage spend across the entire S2P process and will help companies achieve autonomous, frictionless spend and trade within a constantly learning and adapting AI network.\" Coupa Card, powered by Brex, will be accepted across the global Mastercard payment network, giving businesses a simplified and transparent way to manage supplier payments and employee expenses directly through the centralized Coupa Pay platform. Leveraging Mastercard's global acceptance network, Coupa Card enables businesses to transact securely and seamlessly with millions of suppliers worldwide — delivering scale, reliability, and reach across every corner of the procurement ecosystem. \"At Montrose, we're continually investing in technologies that simplify processes and empower our people to do their best work. As we advance our Coupa implementation, the Coupa Card program represents the kind of innovation we look for — deeply integrated, intuitive solutions that enhance both efficiency and the employee experience. Features like tap-to-pay will make it even easier for our colleagues in the field to serve our clients seamlessly,\" said Dan Gerard, SVP, Business Services, Montrose Environmental Group, Inc. \"Coupa Card unifies the fragmented world of B2B supplier payments and employee expenses into a singular, flexible solution natively embedded in the spend management workflow. The ability to use one virtual card across such diverse use cases delivers meaningful value to customers seeking control and simplification,\" said Kevin Permenter, Senior Research Director, Financial Applications and Agents at IDC. \"Integrating modern features like tap-to-pay ensures a seamless user experience, driving high employee adoption while giving finance and procurement teams the real-time visibility and control they need across their business spend.\" Among the many benefits Coupa Card provides: Gives Employees the Power to Move Business Forward, Fast : Coupa Card empowers employees to make secure, hassle-free payments anytime, anywhere using tap-to-pay virtual cards integrated into Apple Pay and Google Pay digital wallets.\n\n: Coupa Card empowers employees to make secure, hassle-free payments anytime, anywhere using tap-to-pay virtual cards integrated into Apple Pay and Google Pay digital wallets. Visibility into All Business Transactions with a Single Card : Coupa Card supports a wide range of diverse use cases, including supplier payments against purchase orders and invoices, ghost card payments for high-volume suppliers, recurring business subscriptions, and employee expenses like travel and entertainment.\n\n: Coupa Card supports a wide range of diverse use cases, including supplier payments against purchase orders and invoices, ghost card payments for high-volume suppliers, recurring business subscriptions, and employee expenses like travel and entertainment. Spending Controls : Coupa Card will include custom controls such as spend limits, expiration dates, and approval workflows – enabling finance and procurement teams to configure cards by user, project, or department. This minimizes fraud and out-of-policy spend, while future updates will enforce policy at the point of spend by flagging or stopping transactions at the time of purchase.\n\n: Coupa Card will include custom controls such as spend limits, expiration dates, and approval workflows – enabling finance and procurement teams to configure cards by user, project, or department. This minimizes and out-of-policy spend, while future updates will enforce policy at the point of spend by flagging or stopping transactions at the time of purchase. Issue Cards in Hours, Not Weeks : Coupa Card offers a seamless, end-to-end process for virtual card management, including application, underwriting, onboarding, card issuance, reconciliation, and statement management – all handled within the Coupa platform. This significantly reduces the traditional setup time from weeks or months to hours.\n\n: Coupa Card offers a seamless, end-to-end process for virtual card management, including application, underwriting, onboarding, card issuance, reconciliation, and statement management – all handled within the Coupa platform. This significantly reduces the traditional setup time from weeks or months to hours. Automate Payments with Enhanced Compliance: Coupa Card delivers a secure, compliant, and seamless payment experience for users. Autonomous reconciliation services save businesses time and money. \"With Coupa Card, powered by Brex, U.S. customers with global operations can get underwritten and approved in just a few days and issue local cards in 30 currencies across 50 countries, helping their teams go live faster and scale globally without friction,\" said Art Levy, Chief Business Officer of Brex. Scott Abrahams, Global Head of Commercial Verticals for Mastercard, said, \"Mastercard is on a mission to make payments smarter and businesses stronger by embedding our capabilities directly into the platforms where commerce happens. With Coupa Card, we're combining the power of our global acceptance network with a seamless, embedded experience — helping organizations simplify supplier payments, control spend, and unlock working capital with speed, security, and scale.\" Learn more about how Coupa Card can help businesses manage supplier payments and employee expenses. Additional Resources Download Availability Coupa Card is currently in limited availability for U.S. based companies, with global general availability expected in Q1 2026. About Coupa\n\nCoupa is the leading AI platform for total spend management. Using its trusted, community-generated, $8 trillion dataset, Coupa brings autonomous AI agents, a network of 10M+ buyers and suppliers, and leading apps together on one unified platform to seamlessly automate the buying process and connect to customers in a whole new way. With Coupa, you'll make margins multiply™. Learn more at coupa.com and follow us on LinkedIn andX (Twitter). View original content to download multimedia:https://www.prnewswire.com/news-releases/new-coupa-card-transforms-how-organizations-seamlessly-manage-supplier-payments-and-employee-expenses-302606462.html SOURCE Coupa Software New Coupa Card Transforms How Organizations Seamlessly Manage Supplier Payments and Employee Expenses"
},
{
"ai_summary": "Payhawk's CEO Hristo Borisov downplayed the competition from US rival Brex, citing different target markets and a fragmented EU landscape, while expressing plans to boost US revenues to 30% in the next five years. He also mentioned that Payhawk is not pursuing an IPO in the near term.",
"type": "",
"url": "https://tech.eu/2025/11/04/bulgarian-unicorn-payhawk-plays-down-brex-s-european-challenge/",
"title": "Bulgarian unicorn Payhawk plays down Brex's European challenge",
"company_name": "Brex",
"publisher": "Tech.eu",
"published_date": "2025-11-04 00:00:00",
"source": "Wokelo",
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"scraped_text": "Fintech Bulgarian unicorn Payhawk plays down Brex's European challenge Payhawk is hoping to grow its US revenues to up to 30 per cent of overall revenues in the next five years. Share Facebook Twitter Linkedin\n\nShare Send email Copy link The CEO of Bulgarian spend management unicorn Payhawk has played down the threat of US rival Brex, which recently announced it was launching across the EU, saying they were targeting different customer bases and that the EU was a fragmented market.\n\n\n\nPayhawk CEO and co-founder Hristo Borisov also said that Payhawk was not pursuing an IPO in the near term, but was keeping its options open regarding a potential listing venue if and when it decided to go public.\n\n\n\nBorisov said: “We’re keeping optionality. The US offers deep capital markets for large SaaS/fintech issuers; Europe is core to our business and talent footprint. We’ll choose the market that best matches our scale and investor base when the time is right.”\n\n\n\nPayhawk, which became Bulgaria's first-ever unicorn in 2022, now employs around 480 people with offices in Sofia, London, Berlin, Barcelona, Amsterdam, Vilnius, Munich, Paris, New York and a soon-to-open new office in another European city. Payhawk offers customers spend management services, so employees can manage their spending lifecycle, from company card to bills and invoices in one place.\n\n\n\nPayhawk, founded in 2018, reported revenues of €23.4m in the year ending December 2024, up 85 per cent on the year, but it is not yet full-year profitable.\n\n\n\nThe boost in revenues was attributed to the scale-up offering a broader suite of services, on top of its corporate cards, including travel, accounts payable and procurement services.\n\n\n\nCurrently, around 95 per cent of Payhawk's revenues come from Europe.\n\n\n\nEarlier this year, San Francisco-based spend management rival Brex said it was launching in the EU, having bagged an EU Payment Institution licence.\n\n\n\nBut Borisov played down the threat from Brex, saying the US firm had a different target market to Payhawk, targeting startups and small businesses with up to 40 people.\n\n\n\nBorisov: \"We are usually owning the mid-market space, the more mature companies, so that is a key differentiator.\" Furthermore, he also pointed out that the EU was a fragmented market, with different rules across areas like payments and currencies.\n\n\n\nHe added: \"You don’t have to win in one market, you need to win in 29.”\n\n\n\nBig incumbents like American Express also have a major presence in the corporate card market.\n\n\n\nIn the US, Borisov said he expected Payhawk’s US revenues to grow as much as 30 per cent of its overall revenues in five years. He said US businesses were more amenable than European businesses to working with startups and scale-ups like Payhawk.\n\n\n\nBorisov also pointed to Payhawk’s different strategy in the US to Brex, valued at $12.3bn in 2022, and Ramp, another US rival, valued at $22.5bn earlier this year. He said the two firms had gained traction by giving out free corporate cards to startups and small businesses.\n\n\n\nHe said: “The problem we have seen in the US is that the spend management market has been a market which has been heavily subsidised from a go-to-market perspective. \"From a price perspective, there are several companies that have already raised more than $3 billion. The way they compete is really heavily subsidising the product. \"What we have been trying to do in the US is if they are playing that game, to try and change the game, so instead of us offering a free product and trying to monetise the customer later on, we have tried to build something sustainable that customers are willing to pay with right now.” Ad Instead of offering its own corporate cards, Payhawk offers services on top of existing card giants like Visa and MasterCard. Borisov also said that Payhawk, which has yet to make any acquisitions, was currently being turned off from making acquisitions by, generally speaking, prices being too high for potential targets, saying startups were clinging to their high valuations of 2021.\n\nFollow the developments in the technology world. What would you like us to deliver to you? Weekly Newsletter\n\nDaily Newsletter\n\nEvent Announcements Save my choices Your subscription registration has been successfully created."
},
{
"ai_summary": "Brex offers a unique corporate card for startups that does not require a personal guarantee or consideration of personal credit scores, focusing instead on the business's revenue and financial metrics. The card features higher limits, faster issuance, and rewards for spending without annual fees.",
"type": "Product Launches & Enhancements",
"url": "https://www.nerdwallet.com/business/credit-cards/learn/brex-card",
"title": "Brex Business Card Doesn't Require a Personal Guarantee",
"company_name": "Brex",
"publisher": "Nerdwallet",
"published_date": "2025-10-29 00:00:00",
"source": "Google",
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"scraped_text": "Finding a business credit card that doesn't require an entrepreneur to personally guarantee the debt is like finding a parking spot at the mall on a rainy Saturday: There are options, but they're either unappealing or not a fit.\n\nBut a company called Brex has created a corporate card for startup companies that rejects traditional underwriting methods. Instead of evaluating applications based on a business owner's personal credit, it focuses on other numbers: revenue, funding, expenses and size.\n\n\"It starts with the technology,\" says Michael Tannenbaum, chief financial officer of Brex.\n\nBrex says it can issue cards faster, and with higher limits, than other options, all without a personal guarantee. The Brex Card works on the Mastercard network, there are no annual fees or foreign transaction charges, and cardholders can earn rewards.\n\nElevated Offer Featured card placement may be affected by compensation agreements with our partners, but these partnerships in no way affect our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services. Here is a list of our partners. American Express The Business Platinum Card® from American Express Rates and Fees 5.0 NerdWallet rating How is this rating determined? NerdWallet's ratings are determined by our editorial team. The scoring formulas take into account multiple data points for each financial product and service. Bonus Amount Elevated Welcome Offer: Earn 200,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Business Platinum Card® within the first 3 months of Card Membership. Terms apply. 200,000 points Read Review Apply Now on American Express' website\n\nWhat makes Brex different?\n\nBrex focuses on emerging or early-stage companies and currently only accepts applications from venture-backed and mid-market companies. Here's what sets it apart from some other cards in its category:\n\nThere's no personal guarantee. A personal guarantee requires an applicant to accept personal liability for a business debt, such as on a credit card. If the business goes belly-up, the creditor can go after the applicant's personal assets. With the Brex Card , there's no founder liability if the business isn't successful.\n\nPersonal credit scores aren't a factor. Brex determines the creditworthiness of a business by evaluating its cash flow, spending patterns and financial backing, rather than the applicant's own credit history.\n\nYou don't need to provide a Social Security number. The Brex Card requires a company to provide basic details, including its employer identification number, and access to its bank information. If your application is approved, you'll get an answer within minutes, and you'll be issued a virtual card that can be used right away, with a physical card to follow by mail within days.\n\nBrex is a charge card, not a credit card. That means the balance is due in full each billing cycle, and you can't carry debt from one month to the next. The upside of this is that you don't pay interest. The downside: You can't float debt for very long. Your account will be automatically debited for the balance, so you'll need to have sufficient resources on hand.\n\nCredit limits may be higher than you can get elsewhere. Brex's website notes that credit limits are based on factors such as the money a business has raised and its spending patterns. According to Tannenbaum, Brex's method of evaluating potential cardholders allows it to offer dynamic credit limits that rise along with a business's cash flow. \"What we don’t do is take your FICO score or look at some other data and say your limit is $10K and either contact us if you need more, or we’ll check back in a year and see if we can give you more,\" Tannenbaum says. \"That static concept is not something we do.\"\n\nIt limits your ability to overspend. Brex's credit model updates in real time, so if a company depletes most of its cash in a given month, the credit limit on the card will be reduced until there's more cash in the bank account. \"We monitor cash in the bank, so we always know if a customer can pay,\" Tannenbaum says. He notes that it's rare for a company to charge a high percentage of its net worth on a card that doesn't allow it to carry a balance.\n\nWhat kinds of companies should consider Brex?\n\nTannenbaum says Brex fills a specific market niche. It's a good choice for entrepreneurs with thin or nonexistent credit files who have high-growth venture-backed companies.\n\nCompanies that might be a good match for the Brex Card include those that:\n\nAre willing to pay the card off in full within 30 days using automatic debit.\n\nAre comfortable giving Brex access to view their company bank account and other funding information.\n\nMight need access to a high line of credit.\n\nThe Brex Card may not be a fit if you or your company are:\n\nA sole proprietorship or a mom-and-pop shop that doesn't have a high cash flow.\n\nA small business that doesn't spend in the reward categories Brex offers. (More on that below.)\n\nA business owner who wants a card that offers upscale travel benefits.\n\nHow Brex rewards loyalty\n\nBrex Card their only company card can earn elevated rewards at the following rates: Brex's Exclusive rewards program lets eligible cardholders earn points on their purchases. Those who make thetheir only company card can earn elevated rewards at the following rates:\n\n7 points per dollar spent on rideshares and taxis.\n\n4 points per dollar on travel booked through the Brex portal.\n\n3 points per dollar on restaurants.\n\n3 points per dollar on Apple products purchased through your Brex dashboard.\n\n2 points per dollar on recurring software expenses.\n\n1 point per dollar on all other purchases.\n\nThose who opt to use the Brex Card in tandem with other cards can earn a flat 1 point per dollar on all spending. Rewards can be redeemed at a value of 1 cent per point as a statement credit against a transaction made on the card.\n\nAccording to its website, Brex will determine eligibility for its rewards program by using information provided by the customer and via third-party providers authorized by the customer to give Brex bank account information.\n\nThere's a sign-up bonus: Get 10,000 points when you spend $3,000 on a Brex Card within your first 3 months. Brex also offers cardholders deals and discounts at various vendors that startups may find appealing, including Amazon Web Services, WeWork, Google Ads, Salesforce, Twilio, Caviar, Instacart, Zendesk and Snapchat.\n\nIs Brex right for your business?\n\nIf you fit the profile, few corporate cards offer as many benefits and rewards without an annual fee as the Brex Card does. But a corporate card isn't right for every business owner, and other options might better fit your spending patterns.\n\n$895 ( see rates and fees Those who anticipate a lot of air travel may place more value on getting elite lounge access. In that case, The Business Platinum Card® from American Express could be a better fit, despite its hefty annual fee of).\n\nFor more potential options, see our roundup of best business credit cards"
},
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"ai_summary": "Fintech startup Ramp is aggressively targeting American Express' dominance in the U.S. corporate credit card market, leveraging a no-fee corporate card with automated expense management to capture market share. Despite skepticism about its inflated valuation, Ramp's growth strategy and focus on efficiency support its goal to challenge established players in the $2 trillion sector.",
"type": "",
"url": "https://www.crowdfundinsider.com/2025/10/254295-fintech-ramp-aims-to-challenge-incumbents-in-corporate-card-market/",
"title": "Fintech Ramp Aims to Challenge Incumbents in Corporate Card Market",
"company_name": "Brex",
"publisher": "Crowdfund Insider",
"published_date": "2025-10-09 00:00:00",
"source": "Wokelo",
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"scraped_text": "A recent report highlights fintech startup Ramp‘s seemingly aggressive push to disrupt American Express‘ current dominance in the $2 trillion U.S. corporate and small-business credit card sector.\n\nFounded in 2019 by Eric Glyman and Karim Atiyeh, Fintech firm Ramp has scaled to $1 billion in annualized revenue by August 2025, securing a $22.5 billion valuation in a July funding round led by Iconiq.\n\nThis positions the six-year-old startup to target AmEx’s roughly 33% market share, where Ramp currently holds merely 1.5%.\n\nRamp’s core offering is a no-fee corporate card integrated with automated expense management software.\n\nUnlike traditional cards, it aims to eliminate manual receipt submissions and generates real-time reports, addressing CFO frustrations with tools like Concur and Expensify.\n\nThe platform organizes transaction data to flag inefficiencies—such as overpriced Uber rides or redundant subscriptions—potentially saving companies 5% on spend, per Ramp’s claims.\n\nThis flywheel has driven adoption: one in three customers switches from AmEx, and 90% abandon legacy expense platforms post-signup.\n\nThe Fortune update details Ramp’s evolution beyond interchange fees (up to 3% per transaction) toward higher-margin SaaS subscriptions.\n\nRecent AI agents automate financial workflows, like invoice approvals and vendor negotiations, expanding into travel and procurement.\n\nAmid the AI boom and corporate cost pressures, Ramp’s neon-yellow branding and marketing strategy—including a February 2025 Super Bowl ad and podcast sponsorships—have built some visibility.\n\nIt now serves clients like Shopify and Webflow, outpacing rival Brex, which reported $700 million in revenue but a $12.3 billion valuation.\n\nYet, skepticism surrounds Ramp’s ongoing growth trajectory.\n\nVarious investors and competitors view the $22.5 billion figure as inflated marketing, driven by backers like Founders Fund and Khosla Ventures. Coatue, an early investor, partially exited in 2023 over valuation concerns, though it reinvested later.\n\nBrex‘s international push and AmEx’s small-business innovations pose threats.\n\nAmEx CEO Steve Squeri has actually acknowledged monitoring Ramp and Brex in January 2025 earnings, citing record card spending and new customer acquisitions.\n\nRamp‘s seemingly steady growth reflects fintech’s focus on efficiency, but sustaining it requires navigating credit risks—like rising charge-offs seen in peers—and proving AI tools deliver sizeable ROI.\n\nAs Glyman eyes leapfrogging AmEx, the startup‘s pivot to more comprehensive finance automation will test whether it can erode the incumbent’s century-old moat.\n\nAccording to available data, Ramp has raised appr. $1.9 billion in total equity financing to date, with the latest round being a $500 million Series E-2 announced in July of this year at a $22.5 billion valuation.\n\nThis funding has been used to supports its AI capabilities and build its financial operations platform, which currently serves corporate clients and handles considerable purchase volume across cards as well as bill payments."
},
{
"ai_summary": "Brex is introducing stablecoin payments to its global corporate card, allowing cardholders to send and receive payments, with automatic conversion to U.S. dollars, facilitating fast and fee-less transactions for businesses.",
"type": "Product Launches & Enhancements",
"url": "https://www.pymnts.com/cryptocurrency/2025/brex-to-add-stablecoin-payments-to-global-corporate-card/",
"title": "Brex to Add Stablecoin Payments to Global Corporate Card",
"company_name": "Brex",
"publisher": "PYMNTS.com",
"published_date": "2025-09-30 00:00:00",
"source": "Wokelo",
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"scraped_text": "Brex plans to add stablecoin payments to its global corporate card, enabling cardholders to send and receive these payments.\n\nGet the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. Δ Alternative: WPA\n\nThis feature will allow cardholders with a Brex business account to accept stablecoins, which will automatically be converted into U.S. dollars in their account, and send stablecoins directly from their U.S. dollar balances, the company said in a Tuesday (Sept. 30) press release. Brex opened a waitlist for this feature Tuesday and said in the release that it will make stablecoin payments generally available within months, starting with USDC. We’d love to be your preferred source for news. Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks! Add as Preferred Source By adding stablecoin payments, Brex will enable its financial platform to manage both traditional and stablecoin-backed spend and will make it easier for its customers to use stablecoins for cross-border, large-scale business transactions, according to the release. Businesses will be able to send stablecoin payments that settle in seconds, with no fees, and will be able to receive funds at any time, with instant settlement, per the release. “Stablecoins make it possible to move millions of dollars across borders in seconds, but using them typically requires fragmented workflows and managing multiple platforms,” Brex CEO Pedro Franceschi said in the release. “With today’s launch, forward-looking companies across industries, from AI to crypto, will manage their largest payments and mission-critical expenses on Brex, in a single, secure platform.” Advertisement: Scroll to Continue PYMNTS reported in March that stablecoins have started to decouple themselves from crypto exchanges and position themselves as a component of real-world financial infrastructure. Cross-border payments stand as one of the most promising use cases for stablecoins, as stablecoins promise a faster and cheaper alternative to traditional international transactions. Corporate treasury operations have become another use case because stablecoins can enable companies to hold and transfer value seamlessly on a global scale. Brex said Sept. 4 that it plans to expand its corporate card business to the European Union and the United Kingdom. This expansion will give the company access to a market worth as much as $5 billion per year in added revenue and an opportunity to compete with the players that dominate the corporate card market in the region."
},
{
"ai_summary": "Brex has announced the launch of native stablecoin payments, making it the first global corporate card to support instant balance payments with stablecoins, enabling businesses to accept, send, and pay card balances in stablecoins while enjoying automatic conversion into USD.",
"type": "Product Launches & Enhancements",
"url": "https://www.prnewswire.com/news-releases/brex-announces-launch-of-stablecoin-payments-302570185.html",
"title": "Brex Announces Launch of Stablecoin Payments",
"company_name": "Brex",
"publisher": "Prnewswire",
"published_date": "2025-09-30 00:00:00",
"source": "Google",
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"scraped_text": "Brex will become the first global corporate card to enable instant balance payments with stablecoins. SAN FRANCISCO, Sept. 30, 2025 /PRNewswire/ -- Brex, the intelligent finance platform, announced today the upcoming launch of native stablecoin payments. This will make Brex the first global corporate card to enable instant balance payments with stablecoins. With this launch, customers with a Brex business account will be able to accept stablecoins with automatic conversion into USD in their Brex business accounts and send stablecoins directly from their USD balances. In addition, Brex customers will be able to pay their card balances with stablecoins. Stablecoin payments will be generally available in the coming months, starting with USDC, with a waitlist open today for customers seeking early access when available. Stablecoins are increasingly used for cross-border, large-scale business transactions, yet remain unavailable at most banks and institutional payment platforms. Brex is introducing the first consolidated financial platform to manage both traditional and stablecoin-backed spend at scale, giving companies faster access to liquidity and the ability to operate globally with greater flexibility, speed, and security. In collaboration with a trusted stablecoin infrastructure partner, Brex will offer: Instant payments with zero fees : Send stablecoin payments that settle in seconds for free without any hidden costs.\n\n: Send payments that settle in seconds for free without any hidden costs. 24/7 global reliability : Receive funds anytime with instant settlement across borders, all with the backing of Brex's 24/7 customer support.\n\n: Receive funds anytime with instant settlement across borders, all with the backing of Brex's 24/7 customer support. One consolidated platform: Send and receive stablecoin payments all managed in the Brex platform. This launch builds on Brex's commitment to offering faster, more flexible payment options for global businesses, extending its financial platform to further support both crypto-native companies and those adopting digital assets for the first time. \"Stablecoins make it possible to move millions of dollars across borders in seconds, but using them typically requires fragmented workflows and managing multiple platforms,\" said Pedro Franceschi, CEO of Brex. \"With today's launch, forward-looking companies across industries, from AI to crypto, will manage their largest payments and mission-critical expenses on Brex, in a single, secure platform,\" said Pedro Franceschi, CEO of Brex. Leading crypto and blockchain companies like Figure, Solana, and Alchemy have already joined the waitlist and run their finances on Brex. Soon, they'll be able to operate the way they want—with the speed and efficiency of native stablecoin payments on the same trusted platform. \"By going public, Figure proved blockchain is no longer theoretical — it's transforming financial services right now. Brex's stablecoin payments bring that vision to enterprises, allowing companies like ours to move millions instantly across borders, combining the speed of crypto with the safeguards global businesses need,\" said Michael Tannenbaum, CEO of Figure and Board Member at Brex. \"Stablecoins are transforming global money movement, and Solana provides the best-in-class infrastructure to power that future. We're excited to see Brex will soon launch stablecoin payments where Solana will be integrated from the start,\" said Tamar Menteshashvili, Head of Stablecoins at the Solana Foundation. \"Fast-moving companies need financial infrastructure that moves just as quickly, and Brex understands that in a way traditional platforms never will,\" said Gabe Avins, Head of Finance, at Alchemy. Customers can join the waitlist today at brex.com/stablecoins . About Brex\n\nBrex is the intelligent finance platform that empowers growing companies to spend smarter and move faster – in 120+ countries. By combining the world's smartest corporate card and high-yield banking with intuitive software for expenses, bill pay, accounting, and travel, Brex enables founders and finance teams to accelerate operations, gain real-time visibility, and control spend effortlessly. Brex's AI-powered automation and world-class service eliminate manual expense and accounting tasks for customers, freeing up 11 million hours of employee effort for higher-impact work. Over 30,000 of the world's best companies, from startups to enterprises, run their finances on Brex – including ServiceTitan, Anthropic, Wiz, Robinhood, Five Guys, and Sonos. Learn more . SOURCE Brex"
},
{
"ai_summary": "Brex announced it will start accepting stablecoin payments, beginning with USDC, with automatic conversion into dollars and the ability to pay card balances using stablecoins. This move positions Brex uniquely in the payments landscape, catering to both crypto-native and traditional businesses.",
"type": "Product Launches & Enhancements",
"url": "https://www.paymentsdive.com/news/brex-to-accept-stablecoins-as-payment-genius-act-cards-business-credit/761532/",
"title": "Brex to accept stablecoins as payment",
"company_name": "Brex",
"publisher": "Payments Dive",
"published_date": "2025-09-30 00:00:00",
"source": "Wokelo",
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"scraped_text": "Listen to the article 3 min This audio is auto-generated. Please let us know if you have feedback Brex will begin accepting stablecoin payments on its platform in coming months, the company announced Tuesday. Customers with a Brex business account can then accept stablecoins — starting with Circle Internet Group’s USDC — as payment, with automatic conversion into dollars, and to send stablecoins from their fiat balances. Customers will also be able to pay card balances with USDC. A Brex spokesperson said the company plans to include other stablecoins for balance payments in the future. Brex joins a spate of companies throwing resources behind the growing adoption of stablecoins, likely spurred by the passage of the Genius Act, the first federal legislation to offer a regulatory framework for cryptocurrency. Several companies, including Fiserv and PayPal, have launched their own stablecoins; Stripe unveiled a platform Tuesday for businesses to develop their own stablecoins, born out of Bridge, which Stripe acquired last year. In launching its financial platform to manage both traditional and stablecoin-backed spend, San Francisco-based Brex is looking to differentiate itself from other institutional payment platforms. “We’re obsessed with making sure that we own our infrastructure so that we can actually be innovative on payments,” Brex Executive Vice President of Finance Erica Dorfman said Tuesday in an interview. “With stablecoin, it’s an opportunity for us to lean into the newest innovation around payment rails and how you can have 24/7 payment and really the next wave of what is happening in financial services.” While other firms, like Mastercard and MoonPay, have launched stablecoin-backed debit cards, and Ramp and Stripe launched a stablecoin-backed charge card in May, Brex calls itself the first to launch a credit card that enables stablecoin payments. “From a customer value proposition, when you think about a debit card, it requires you to immediately reduce the balance of your account by that amount,” Dorfman said. “But there’s real value to businesses operating on a charge card or on a credit card, where they have a statement at the end of the month, and they like to reconcile the single payment. “Of course, you can pay us at any time, but customers like the concept of having a statement and managing that out of the credit framework,” she said. “To be able to offer this with stablecoin is pretty innovative and, I think, solves the sort of multiple needs of our customers.” Keep up with the story. Subscribe to the Payments Dive free daily newsletter The payments offering positions Brex to better support crypto-native companies, as well as firms new to the digital asset space. While the demand for the stablecoin product is currently coming from businesses in the crypto and stablecoin spaces, Dorfman said she expects stablecoins to “continue to be a growing component of how individuals and businesses move money.” Digital asset firms Figure, Solana and Alchemy are Brex customers, each of which has signed up to accept stablecoins as payment when the platform is live. “Brex’s stablecoin payments bring that vision to enterprises, allowing companies like ours to move millions instantly across borders, combining the speed of crypto with the safeguards global businesses need,” Figure CEO Michael Tannenbaum, who serves on Brex’s board, said in a prepared statement."
},
{
"ai_summary": "Brex has partnered with DoorDash for Business to provide DashPass memberships to its cardholders, offering benefits like $0 delivery fees and 5% back in DoorDash credits on eligible orders. This collaboration aims to enhance employee perks and productivity for companies using Brex cards.",
"type": "Partnerships & Alliances",
"url": "https://www.crowdfundinsider.com/2025/09/250803-fintech-brex-teams-up-with-doordash-for-business-to-deliver-dashpass-to-corporate-cardholders/",
"title": "Fintech Brex Teams Up with DoorDash for Business to Deliver DashPass to Corporate Cardholders",
"company_name": "Brex",
"publisher": "Crowdfund Insider",
"published_date": "2025-09-12 00:00:00",
"source": "Wokelo",
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"scraped_text": "Brex, the self-described intelligent finance platform, announced a partnership with DoorDash for Business, which is described as DoorDash’s solution for workplace meals and employee perks, in order to “provide DashPass membership to US-based Brex cardholder.”\n\nThrough this colla, employers who offer Brex cards “to their teams can now extend DashPass as a built-in benefit for their teams – a way to offer a high-impact perk through a card employees already use for business expenses.”\n\nBrex cardholders will receive a DashPass membership, thanks to Brex, unlocking $0 delivery fees and “reduced service fees on eligible orders, exclusive promotions, discounted Lyft rides, and more.”\n\nIn addition, cardholders “will earn 5% back in DoorDash credits on eligible Business Profile orders placed through their Brex card.”\n\nBoth the DashPass membership and benefits are “available for workplace orders such as team meals, office groceries, and business travel, as well as for personal use.”\n\nJason Mok, Vice President, Startups and Strategic Partnerships at Brex:\n\n“In an era where companies from startups to enterprises are hyper-focused on increasing productivity, DoorDash is already a Brex customer favorite. Nearly a third of Brex cardholders used DoorDash in 2024….”\n\nKatie Egan, General Manager at DoorDash for Business:\n\n“DoorDash for Business is focused on helping companies deliver modern, cost-effective perks that enhance employee productivity, satisfaction, and retention.”\n\nThey added:\n\n“Through this partnership with Brex, we’re making it easier for employers to maximize their budgets, strengthen their culture and support employees wherever work or life happens—whether in the office, on the road, or during a busy day of parenting.”\n\nCardholders can activate DashPass “directly in their Brex dashboard and enjoy benefits across both business and personal orders.”\n\nAs covered recently, Brex, a $12 billion fintech startup backed by billionaire investor Peter Thiel, is laying the groundwork for a European expansion as it prepares for a potential initial public offering (IPO)."
},
{
"ai_summary": "Brex is expanding its corporate card services into Europe and the UK, having obtained a license to operate there, as it prepares for an impending public offering; this move could unlock a potential $5 billion annual revenue market.",
"type": "Geographic Expansion",
"url": "https://www.pymnts.com/startups/2025/brex-expands-corporate-card-business-european-union-plans-united-kingdom/",
"title": "Brex Expands Corporate Card Business to EU, Makes Plans for UK",
"company_name": "Brex",
"publisher": "PYMNTS.com",
"published_date": "2025-09-04 00:00:00",
"source": "Wokelo",
"author": "",
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"scraped_text": "Corporate card company Brex is reportedly expanding in Europe as it prepares to go public.\n\nGet the Full Story Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required. yesSubscribe to our daily newsletter, PYMNTS Today. By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions. Δ Alternative: WPA\n\nThe company obtained a license that lets it serve businesses in Europe and plans to roll out its offering there and in the United Kingdom, the Financial Times reported Thursday (Sept. 4). CEO Pedro Franceschi said in the report that the expansion gives Brex access to a market worth up to as much as $5 billion per year in added revenue. “Business in Europe didn’t really have a good solution before; it was Barclays in some areas, but not really a modern solution,” Franceschi said, per the report. Brex, which offers corporate cards and expense management to companies that include Arm, Wiz and Anthropic, hopes to compete with players that dominate the multitrillion-dollar corporate card market, such as American Express, according to the report. It also competes with Ramp, which became a $22.5 billion company in July following a $500 million funding round. Advertisement: Scroll to Continue Brex was one of the fastest-growing FinTech startups during the venture capital boom, valued at $2.3 billion in 2022, the report said. The company saw its momentum flag when higher interest rates began to crimp startup funding. Brex has been involved in an aggressive turnaround effort in the last two years, described by one investor as “a torturous journey” that involved “repositioning the company, firing a bunch of people, getting people back in the office and shedding the excess from 2020/2021,” per the report. Now, the company is on the verge of making more than it spends for the first time, according to the report. “It’s going to happen in the next two quarters, at this point it’s sort of inevitable,” Franceschi said, per the report. In January, Brex secured a $235 million credit facility provided by senior lender Citi and participating lender TPG Angelo Gordon. Corporate credit cards stand out as the preferred choice for 52% of small- to medium-sized businesses (SMBs) that are seeking alternative financing, according to the PYMNTS Intelligence report “One-Quarter of SMBs Plan to Increase Corporate Card Usage This Year.” Nearly 92% of the surveyed businesses said they went with corporate cards as a working capital tool because of the ability to cover predictable expenses, while nearly 80% mentioned using business cards to address unexpected expenses. For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter."
},
{
"ai_summary": "The article discusses the growth trajectory of Brex, a fintech company founded by Henrique Dubugras and Pedro Franceschi, which has evolved from a startup offering corporate credit cards to a comprehensive spend management platform. Art Levy, Brex's Chief Business Officer, shares insights on maintaining focus, strategic partnerships, and employee engagement, as the company surpasses $100 billion in total payment volume.",
"type": "Executive Commentary & Interviews",
"url": "https://fintechleaders.substack.com/p/art-levy-the-brex-growth-strategy",
"title": "Art Levy, The Brex Growth Strategy: From Startup to Multibillion Fintech",
"company_name": "Brex",
"publisher": "Substack",
"published_date": "2025-09-03 00:00:00",
"source": "Google",
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"scraped_text": "This article is part of Fintech Leaders, a newsletter with 80,000+ builders, entrepreneurs, investors, regulators, and students of financial services. I invite you to share and sign up. If you enjoy this conversation, please consider leaving a review on Apple, Spotify, or Youtube.\n\nSince taking Silicon Valley by storm in 2017, Brex has built a corporate spending platform combining cards, banking, and expense management. Brex issues cards in over 60 currencies while giving finance teams a single global dashboard.\n\nShare\n\nBrex was founded in 2017 by two young Brazilian entrepreneurs, Henrique Dubugras and Pedro Franceschi, who had already built and sold a payments company as teenagers. Frustrated by their inability to get corporate credit cards for their Stanford startup, they decided to build a solution themselves. What started as a credit card for startups has evolved into a comprehensive spend management platform serving everyone from early-stage companies to Fortune 500 enterprises.\n\nMost successful companies eventually face a critical challenge: how do you maintain explosive growth without losing focus? It's a problem that has derailed countless promising startups, but some figure out how to navigate it successfully.\n\nArt Levy has lived through this challenge firsthand as Chief Business Officer at Brex, where he joined as employee #50 and watched the company scale to over $100 billion in transaction volume. His path from investment banking to private equity to operations has given him a front-row seat to what separates companies that sustain growth from those that flame out.\n\nIn our conversation, Art walks through Brex's evolution, including a period of growing pains that nearly derailed their momentum, and the strategic decisions that brought them back to hypergrowth. His insights reveal patterns that apply far beyond fintech, touching on focus, partnerships, scaling culture, and the often counter-intuitive choices that define generational companies.\n\nBelow I’m including four of the most impactful and actionable insights from our conversation. If you're eager for more, the full discussion awaits:\n\nThe Return to Extreme Focus: The Key to Unprecedented Hypergrowth\n\nBrex might have slowed down in past years, but according to Art the company has absolutely returned to its hypergrowth phase, recently surpassing $100 billion in TPV (Total Payment Volume). This dramatic turnaround didn't happen by accident. It came from what Art calls a \"return to extreme focus,\" relentlessly concentrating on just three core products: cards, banking, and expense management.\n\nThis focus comes directly from the top. CEO Pedro Franceschi operates what Art describes as a \"hands-on\" leadership style, reviewing everything from press releases to long-range financial plans to ensure total alignment across the organization. Every employee and team now works on a single OKR, eliminating the scattered priorities that previously diluted the company's efforts. This discipline, inspired by former Snowflake CEO Frank Slootman's philosophy that \"if you have five priorities, you really have zero,\" enables what Art calls \"unnatural speed\" and constant iteration while eliminating analysis paralysis.\n\nThe transformation wasn't easy. Art candidly admits that the hardest lesson was trying to \"do too many things at once\" during Brex's earlier scaling phase. The company attempted to build for everyone and serve every possible use case, spreading resources thin and losing the clarity that had driven their initial success. But by focusing on fewer products and being more deliberate about which customer segments they serve and how they serve them differently, Brex not only regained its growth trajectory but also dramatically improved company culture and employee engagement, with their latest survey showing 93% employee satisfaction.\n\nThe lesson extends beyond product focus to operational discipline. Art emphasizes that this isn't just about saying no to distractions. It's about creating organizational systems that make focus the default, not the exception.\n\nScaling with Customers: The Strategy That Turns Startups into Giants\n\nHow did JPMorgan, Goldman, HSBC, or Bank of Tokyo become global banks? They followed their customers. Both in terms of product needs and geographic expansion. Brex seems to be following the same playbook, but with a modern twist that leverages technology and data in ways traditional banks never could.\n\nBrex prides itself on cultivating the ability to retain and grow exponentially with customers who started small. Companies like Scale AI, Carta, Verkada, and eToro all grew up on Brex, and as they scaled, their use cases multiplied dramatically. The key is listening carefully to their evolving needs and building the exact features they require, from global capabilities in new regions to integrations with tools like Navan for travel management. Art describes this as using early customers as a \"focus group\" for the feature set that larger enterprises need.\n\nBut here's where it gets interesting: the go to market approach had to evolve completely. When you grow up with a customer, they deploy your product everywhere immediately. However, Art learned that established large enterprises buy differently. They want to test you in one use case first before expanding to their entire organization.\n\nFor large enterprise clients, the strategy is \"land and expand\" starting with one specific use case and then methodically scaling the relationship over time. This required completely restructuring sales incentives around longer retention periods rather than trying to close everything upfront. Art explains that sales reps now get extended hold periods of 9 to 12 months with new enterprise customers, aligning their compensation with the customer's natural buying behavior rather than forcing artificial urgency.\n\nBrex focuses specifically on multinational entities with a U.S. presence, offering card issuance in over 60 currencies with a unified financial controller view. This isn't about serving local markets yet, but rather about being the financial backbone for companies that operate globally but have some American footprint. The complexity of managing 24 different currencies through a single platform creates the kind of stickiness that traditional corporate card providers simply cannot match.\n\nPedro Franceschi and Henrique Dubugras Co-Founded Brex in 2017.\n\nThe New Competitive \"Moat\" NO Rival Can Imitate\n\nIf you've been paying attention, you've probably noticed that Brex has been doubling down on big partnerships lately. The way they see it, partnerships with leaders like Navan and Zip are becoming a key differentiator, creating a competitive moat that's incredibly difficult for competitors to replicate.\n\nThe strategy is deliberately focused. Brex builds its own core infrastructure including their issuer processor, giving them complete control over the payment rails. But they partner with \"best-in-class\" providers for adjacent products like ERP systems, procurement platforms, and travel management tools. This calculated decision allows Brex to excel at what they do best while ensuring customers get seamless integration with existing tools.\n\nSuccess relies on deep leadership alignment at the CEO level and seamless product integration that facilitates what Art calls \"explosive co-selling,\" where joint deals can close in a single call rather than typical six to eight week enterprise sales cycles.\n\nFor most outsiders, partnerships might look easy, but Art shares that these partnerships are \"harder than M&A\" because you can't simply mandate alignment like you can within a single company. They demand continuous, cross-functional coordination between teams that don't report to the same leadership structure.\n\nBehind the two successful partnerships that shipped and scaled, Art's team evaluated over 60 potential partners. Their framework weeds out companies that can't move at Brex's speed or don't have strong technical capabilities. This demonstrates Brex's operational maturity and ability to execute the complex relationships that enterprise customers increasingly expect.\n\nShare\n\nThe Talent Cultivator That Generates Multibillion-Dollar Success\n\nBrex has established itself as a \"founder factory,\" with former employees launching companies that have collectively raised $837 million in just the last five years.\n\nThe secret lies in a culture that combines internal promotion with a \"player-coach\" model. The C-suite averages 5.7 years tenure, with leaders like COO Camilla who started as a finance director. But promotion doesn't mean stepping away from the work. Art still does 30% individual contributor work because CEO Pedro Franceschi wants leaders operating at all levels with \"relentless granularity.\"\n\nThis creates an environment where everyone thinks like a founder. The company runs lean teams, pushing employees to be resourceful and \"make things happen\" without traditional support structures. Art describes it as getting \"punched in the face, you keep moving\" while developing the exact skill set successful founders need.\n\nThe culture embraces a \"dream big mentality.\" One early Wi-Fi password was \"buyAMEX2024,\" reflecting audacious goal setting when they were still small. This ambitious target approach ensures that even \"failed\" goals result in monumental progress, contributing to 93% employee engagement and creating a cycle where top talent develops entrepreneurial skills.\n\nBrex's vision is to establish itself as the undisputed leader and a generational company in financial services. Its strategy is based on extreme focus, unusually fast execution, and an expansion that prioritizes growing alongside its customers and forming deep partnerships. This model is supported by hands-on leadership and a culture of ambition that has enabled them to surpass $100 billion in annualized TPV while maintaining 93% employee engagement.\n\nArt's insights reveal universal patterns for scaling companies: why five priorities equals zero priorities, how partnerships can be harder than acquisitions, and the importance of aligning incentives with customer behavior. These aren't just fintech lessons but blueprints for thoughtful scaling in any competitive market.\n\nIf you want to hear the specific tactics and frameworks behind one of fintech's most impressive scaling stories, this conversation delivers actionable insights you can apply to your own business challenges immediately.\n\nFull episode below in links. You simply can't miss this story!\n\n👉 Click below to watch the full conversation with Pedro on the Fintech Leaders podcast.\n\nWant more podcast episodes? Join me and follow Fintech Leaders today on Apple, Spotify, Youtube or your favorite podcast app for weekly conversations with today’s global leaders that will dominate the 21st century in fintech, business, and beyond.\n\nDon’t forget to subscribe so you don't miss big conversations and insights with the giants of Fintech.\n\nSee you next time,\n\nMiguel.\n\nPrevious Episodes You May Enjoy:\n\nVideo Highlights You Will Like:"
},
{
"ai_summary": "Brex has secured a significant milestone by obtaining a license to operate in the European Union, enabling it to directly offer credit and debit cards as well as spend management products to businesses across all 30 EU countries, with plans for future expansion into the UK. This development is particularly beneficial for European startups, although some banking services will not be available initially.",
"type": "Geographic Expansion",
"url": "https://techcrunch.com/2025/08/07/ipo-hopeful-brex-scored-major-win-to-sell-in-the-eu-plans-uk-expansion/",
"title": "IPO hopeful Brex scored major win to sell in the EU, plans UK expansion",
"company_name": "Brex",
"publisher": "TechCrunch",
"published_date": "2025-08-07 00:00:00",
"source": "Wokelo",
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"scraped_text": "Financial services provider Brex on Thursday announced that it achieved a major milestone: It is now licensed in the European Union. That means it can now directly issue credit and debit cards and offer its spend management products to any business in all 30 EU countries with “no workarounds required,” as co-founder and CEO Pedro Franceschi wrote in a blog post. While the corporate spend management startup previously supported 60 currencies in 200 countries, it could only sell its products to companies with a U.S. presence. With the expansion, Brex is now authorized to sell spend management (complete with issuing cards) and other tools like embedded payments to EU companies and startups, a spokesperson tells TechCrunch. However, there’s a caveat: Banking and bill pay will not be initially available. The company hopes to roll those services out in the future. While this is good news for Brex, it may also be good news for European startups. Brex’s claim to fame is offering startups expense management cards for their employees even if they wouldn’t yet qualify from traditional banks. Without a bank account offering, the youngest EU startups will still have to weigh their options. Next up, Franceschi says he wants to expand Brex in the U.K., though he offered no specifics on those plans. Franceschi said in December that Brex is on track to stop burning cash in 2025, “an important milestone to our future IPO.” In February, sources told various news outlets that Brex was on track for $500 million in revenue this year as well. That’s quite the turnaround from a shaky moment in 2023 when Brex conducted layoffs and reportedly told employees that its cash burn was too high. There has been no hint yet as to when that IPO may take place, though. Brex’s competitive win in the international market comes as its U.S. fintech competitors are having an overall moment. Ramp has been raising money from VCs like mad, hitting a $22.5 billion valuation just 45 days after a round with a $16 billion valuation. In March, Mercury raised a fresh $300 million and doubled its valuation to $3.5 billion. Brex has not publicly announced new equity VC funding since 2022, when it raised $300 million in a Series D-2 round at a $12.3 billion valuation. It did, however, sell a fresh $260 million of bonds in March 2024, packaged from its spend management receivables which are used to manage that cash-intensive business.\n\nJulie Bort Venture Editor\n\n\n\nYou can contact or verify outreach from Julie by emailing Julie Bort is the Startups/Venture Desk editor for TechCrunch.You can contact or verify outreach from Julie by emailing julie.bort@techcrunch.com or via @Julie188 on X. View Bio"
},
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"ai_summary": "Brex has secured its Payment Institution license in the EU, enabling it to operate across the region and offer financial services such as commercial credit cards and payment processing to European businesses. This move positions Brex as a key player in global financial solutions, catering to high-growth companies with international operations.",
"type": "Geographic Expansion",
"url": "https://www.prnewswire.com/news-releases/brex-secures-eu-payment-institution-license-unlocking-next-phase-of-global-expansion-302524388.html",
"title": "Brex Secures EU Payment Institution License, Unlocking Next Phase of Global Expansion",
"company_name": "Brex",
"publisher": "Prnewswire",
"published_date": "2025-08-07 00:00:00",
"source": "Google",
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"scraped_text": "Bolsters Position as the Only Financial Platform that Works Everywhere Customers Operate SAN FRANCISCO, Aug. 7, 2025 /PRNewswire/ -- Brex, the intelligent finance platform, today announced that it has secured its Payment Institution (PI) license in the European Union, via the Netherlands. This marks a significant step in Brex's mission to serve high-growth businesses across key international markets where they currently operate. With this license, Brex is officially authorized to operate across the entire EU, offering direct issuance of commercial credit cards and payment origination capabilities including direct debits and credit transfers. As part of its ongoing commitment to product expansion, Brex is also exploring the opportunity to secure a separate license to support UK-based customers in the coming months. Underscoring the demand for global support, Brex already serves 1,500 customers with EU operations, and nearly half of current Brex customers operate in more than one country. Until now, however, Brex customers had to be based or headquartered in the U.S. to take full advantage of Brex's platform. The newly acquired license paves the way for Brex to serve more companies across Europe. Brex will offer its full suite of products, including corporate cards, expense management, and treasury tools, to European enterprises who are originated and based in this region. \"Over the last seven years, we've built the global payments infrastructure to support customers in more than 200 countries and 60+ currencies,\" said Pedro Franceschi, CEO and Co-Founder, Brex. \"This license takes us one step further, enabling Brex to directly serve EU-based businesses and their subsidiaries with locally accepted cards, less friction, and best-in-class payment capabilities.\" To date, Brex has made significant strides to operate ahead of U.S.-based competitors when it comes to supporting global businesses. While others rely on third parties and support only a few currencies, Brex's proprietary global payments infrastructure already powers a truly integrated solution. The EU PI license deepens Brex's strategic moat and reinforces its position as the financial platform of choice for companies with global operations. One such customer is Ooni, the global leader in home pizza ovens, with employees spanning the U.K., Germany, China, Australia, New Zealand, Canada, and the U.S. \"One of the attractions of Brex was its global platform. It's one system employees can log into regardless of where they are,\" said Mark Topping, Group Finance Manager at Ooni. \"The team has really embraced the cards and the overall Brex platform because it's so easy to use.\" With Brex, Ooni has been able to unify their global card program, streamline spend management, and reduce reliance on fragmented financial systems - a powerful testament to the value Brex brings to global businesses now expanding across the EU. Brex plans to begin onboarding select customers in the coming months through a phased rollout, with the expectation that they will be fully operational by early 2026. To support these customers, the company has already established offices in the Netherlands with a full board and local teams across sales, operations, and customer success. A dozen team members are currently on the ground, with plans to scale as Brex continues to grow its European footprint. \"We're incredibly proud of what these new licenses will unlock, not only for Brex, but more importantly for the global founders and finance teams we serve,\" Franceschi continued. \"This is just the beginning.\" About Brex Brex is the intelligent finance platform that empowers growing companies to spend smarter and move faster – in 120+ countries. By combining the world's smartest corporate card and high-yield banking with intuitive software for expenses, bill pay, accounting, and travel, Brex enables founders and finance teams to accelerate operations, gain real-time visibility, and control spend effortlessly. Brex's AI-powered automation and world-class service eliminate manual expense and accounting tasks for customers, freeing up 11 million hours of employee effort for higher-impact work. Over 30,000 of the world's best companies, from startups to enterprises, run their finances on Brex – including ServiceTitan, Anthropic, Wiz, Robinhood, Five Guys, and Sonos. Learn more . Contact\n\nDanielle Bereznak\n\npress@brex.com SOURCE Brex"
},
{
"ai_summary": "Startups are rapidly investing in AI infrastructure, with a significant increase in spending on platforms like Snowflake, Oracle, and Anthropic, indicating a strategic shift towards securing data and compute resources necessary for AI development amidst rising demand and competition from major tech firms.",
"type": "Product Launches & Enhancements",
"url": "https://brex.com/journal/brex-benchmark-july-2025",
"title": "Startups are snapping up AI infrastructure",
"company_name": "Brex",
"publisher": "Brex",
"published_date": "2025-08-04 00:00:00",
"source": "Wokelo",
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"scraped_text": "The Brex Benchmark is a monthly snapshot of the top software and AI vendors by dollar spend using Brex. With 30,000+ customers spending billions of dollars on Brex, we have an inside look at the top tools driving modern business. The methodology includes Brex card and bill pay transactions. \"Startups\" are companies with under 250 employees, and \"enterprises\" are those with 250+ employees. The AI “space race” is on, and startups are moving fast to secure capacity. A sharp month-over-month surge in spend on Snowflake, Oracle, and Google suggests early-stage companies aren’t just testing AI tools. They’re increasingly investing in the data and compute backbone to run them. They may be getting ahead of a demand surge that even the biggest players are scrambling to meet. Top US tech giants are pouring hundreds of billions into AI infrastructure. Amazon plans to spend over $100B this year (a 20% YoY increase), with most of it earmarked for AWS. Google CEO Sundar Pichai warns of a “tight supply environment,” and Meta is racing to build U.S. data centers for superintelligence-scale workloads. Startups may not have billions, but they’re making similar moves: securing compute and building data pipelines now. With startup spend on Anthropic also surging (+275% MoM), the stakes to scale AI are skyrocketing. This makes the 2023 Nvidia GPU rush look like just the tip of the AI iceberg. Now, it's a full-on “space race” to lock in AI capacity so it doesn’t become a billion-dollar bottleneck. More than half of startups’ AI spending is on Anthropic. Anthropic spending among startups increased 275% MoM and accounted for more than half of overall startup AI spending in July, suggesting a clear shift away from OpenAI, which fell 23% MoM. Startups continue to build around Anthropic’s Claude for its quality, pricing, and developer friendliness. OpenAI remains the top AI vendor for enterprises. Other takeaways: Cursor spend was up 9% MoM among startups, continuing a multi-month streak of steady growth. The developer darling continues to be a top-3 tool in startups as well as enterprises.\n\nspend was up 9% MoM among startups, continuing a multi-month streak of steady growth. The developer darling continues to be a top-3 tool in startups as well as enterprises. Is the TikTok effect taking over enterprise? Descript, a platform for collaborative editing of video, audio, and transcripts, joined the enterprise top-10 after a 157% MoM spend increase. With Runway up two spots, large companies signal renewed interest in AI-native post-production tools. Startups are moving fast on cloud and compute. Across the SaaS leaderboard, early-stage companies are shifting spend toward foundational tools like cloud and data infrastructure for their AI-led businesses. Snowflake and Oracle joined the startup top-10 with a 2x and 3x increase in MoM spend, respectively, while Google spend rose 26% MoM. It’s clear startups are taking market cues seriously — McKinsey estimates it will take $3 trillion in new data center investment to meet global AI demand, with large investments in data and compute layers. Other notable trends: Shopify dropped spots in both segments, suggesting a pullback in ecommerce spend as startups shift focus from external growth to AI tooling and internal ops.\n\ndropped spots in both segments, suggesting a pullback in ecommerce spend as startups shift focus from external growth to AI tooling and internal ops. Enterprises ramped up Carta spend, potentially signaling a warming of the IPO pipeline or secondary sales.\n\nspend, potentially signaling a warming of the IPO pipeline or secondary sales. Despite Figma’s in startups, enterprises remain loyal to Adobe’s suite of products, with spend up ~10% MoM. But for how long? Sumeet Marwaha is the Head of Data at Brex, supporting Brex in understanding how customers spend, adopt tools, and grow their businesses. All analysis conducted for this report that uses Brex internal customer data is anonymized and aggregated for privacy. To learn more about how we use data in anonymized or aggregated form for these trend reports, email us at privacy@brex.com."
},
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"ai_summary": "Brex is shifting back to in-person work by leasing 100,000 square feet of office space in San Francisco after previously adopting a remote-first model. This move reflects a broader trend among Bay Area companies reestablishing their presence in the office, particularly influenced by the growth of the AI sector.",
"type": "Geographic Expansion",
"url": "https://therealdeal.com/san-francisco/2025/07/31/brex-leases-100000-square-feet-of-offices-in-san-francisco/",
"title": "Brex reverses course on remote work, leases 100K sf offices in SF",
"company_name": "Brex",
"publisher": "The Real Deal",
"published_date": "2025-07-31 00:00:00",
"source": "Wokelo",
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"scraped_text": "After shuttering its San Francisco headquarters to go remote-first, financial services company Brex is doubling down on in-person work with an even bigger office.\n\nThe financial tech firm leased about 100,000 square feet at 270 Brannan Street, the San Francisco Business Times reported. The company plans to move into the space in mid-November, a spokesperson told the Business Times, though it remains unclear if the new space will be designated as Brex’s headquarters.\n\nBrex followed in other companies’ footsteps in 2021 by abandoning its 60,000-square-foot offices at 405 Howard Street and transitioning to a headquarters-less model. At the time, company co-founders Pedro Franceschi and Henrique Dubugras relocated to Los Angeles, though Dubugras relocated to Palo Alto two years later. That year, Brex opened an 8,300-square-foot office at 85 Second Street in San Francisco.\n\n“As [artificial intelligence] continues to take the tech scene by storm, it’s imperative we have a strong presence in San Francisco,” a spokesperson told the Business Times when the company secured the Second Street office. “San Francisco and the Bay Area continue to thrive as a hotspot for startups and founders, attracting some of the brightest minds in the industry.”\n\nBrex is the latest Bay Area-based company to recommit to office space after paring down or leaving its offices altogether during the pandemic.\n\nSIGN UP\n\nIn 2021, Snowflake eliminated its San Mateo headquarters designation, but late last year, the cloud-based data and analytics firm subleased a 773,000-square-foot campus in Menlo Park from Meta. Coinbase also got rid of its San Francisco headquarters designation in 2021; it signed a 150,000-square-foot lease at Mission Rock in May, though it is not going to consider that office its headquarters.\n\nThe AI sector is expected to increase office occupancy and attract tens of thousands of new workers to San Francisco and the Bay Area, according to CBRE. The firm predicts that over the next five years, AI companies will go from occupying 5 million square feet of offices to 21 million and bringing 50,000 to 60,000 new jobs to the region.\n\nBrex employs around 1,100 people globally and boasts about $1.5 billion in funding, a company spokesperson told the Business Times.\n\n— Chris Malone Méndez"
},
{
"ai_summary": "Startups are rapidly adopting AI-powered voice agents to enhance customer service, leveraging tools like Twilio and AssemblyAI for real-time interactions. With increasing investor interest and significant spending on AI technologies, companies are building scalable and human-like voice solutions.",
"type": "Product Launches & Enhancements",
"url": "https://brex.com/journal/brex-benchmark-june-2025",
"title": "Startups racing to build AI voice agents",
"company_name": "Brex",
"publisher": "Brex",
"published_date": "2025-07-01 00:00:00",
"source": "Wokelo",
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"scraped_text": "The Brex Benchmark is a monthly snapshot of the top software and AI vendors by dollar spend using Brex. With 30,000+ customers spending billions of dollars, you get an inside look at the top tools driving modern business. We updated our methodology this month to include Brex card and bill pay transactions to capture a more comprehensive spending picture. \"Startups\" are companies with under 250 employees, and \"enterprises\" are those with 250+ employees. Voice AI is having a moment as it becomes the go-to tech for modern customer service. Our June spend data shows startups layering AI-powered voice solutions on top of communication platforms like Twilio and Bandwidth. The infrastructure handles voice, messaging, and connectivity while speech-to-text tools like Deepgram and AssemblyAI and text-to-speech tool ElevenLabs add intelligence for natural conversations. They’re building AI that processes spoken language and responds with speech fast, enabling startups to create real-time voice agents for natural, two-way conversations with customers. Think voice-enabled AI assistants, automated appointment booking, and scalable 24/7 support that actually feels human. Brex customers like Speechify and Vapi are scaling AI voice products fast, and even VCs are bullish on the space. The Information reported rising investor excitement around voice agent startups, and OpenAI and Anthropic also recently released new audio models for developers. Deepgram, ElevenLabs, and AssemblyAI were also top-10 tools in our May 2025 Brex Benchmark. Top AI vendors — June 2025 Anthropic spending retained the top spot among startup spending, as did OpenAI for enterprises. However, both segments significantly increased spend on their respective No. 2 gen AI vendors — OpenAI for startups, Anthropic for enterprises. Startups spent 20% more with OpenAI, potentially even leveraging its newest audio models for voice agents. Meanwhile, enterprises spent 137% more MoM with Anthropic, moving it ahead of Cursor for the No. 2 spot. Other takeaways: Startups are prioritizing tools that make information more accessible and actionable. They’re spending on tools like Glean to search across sources like Slack and Google Workplace, ReadAI to distill meetings and messages into summaries, and Pinecone to organize and search large volumes of unstructured data.\n\nto search across sources like Slack and Google Workplace, to distill meetings and messages into summaries, and to organize and search large volumes of unstructured data. Visual AI tools are gaining traction in enterprises. Midjourney spending more than tripled MoM among large businesses, while Runway remains popular for video generation even as it dropped from the startup top 10.\n\nspending more than tripled MoM among large businesses, while remains popular for video generation even as it dropped from the startup top 10. Cursor is another AI tool we’re continuing to watch, with 29% more MoM spend among startups and a sticky product deeply embedded in dev workflows. Top SaaS vendors — June 2025 Note: MoM changes are relative to the combined Brex cards and bill pay spend data. Google ousted Atlassian for the No. 1 spot in enterprise spending. Despite newer solutions popping up, Atlassian tools like Jira, Confluence, and Trello are still deeply embedded in product, engineering, and IT workflows. Postman's rise into the enterprise top 10 reflects growing demand for robust APIs to connect AI and other tools. Other notable trends: Startup spending on Amazon rose 27% month-over-month, while Meta and Google saw declines of 28% and 14%, respectively. Since these are among the top ad and cloud platforms for Brex customers, it’s normal to see month-to-month spend swings.\n\nrose 27% month-over-month, while and saw declines of 28% and 14%, respectively. Since these are among the top ad and cloud platforms for Brex customers, it’s normal to see month-to-month spend swings. Enterprises may be exploring similar voice AI approaches as startups, with customer service platform Zendesk and Deepgram cracking their respective top-10 lists.\n\nand cracking their respective top-10 lists. Popular hiring platform Indeed showed a significant MoM spending decrease (54%) in the enterprise. Sumeet Marwaha is the Senior Manager of Data Science at Brex, supporting the Go-To-Market team in understanding how Brex customers spend, adopt tools, and grow their businesses. All analysis conducted for this report that uses Brex internal customer data is anonymized and aggregated for privacy. To learn more about how we use data in anonymized or aggregated form for these trend reports, email us at privacy@brex.com."
},
{
"ai_summary": "Brex is raising new funds at a valuation of $8 billion, significantly increasing its previous worth as it applies for a banking license from the FDIC, with backing from investors like Tiger Global Management and existing partners.",
"type": "Equity Fund-Raising",
"url": "https://www.fintechfutures.com/bankingtech/brex-raising-at-8bn-valuation-following-banking-licence-application",
"title": "Brex raising at $8bn valuation following banking licence application",
"company_name": "Brex",
"publisher": "Fintechfutures",
"published_date": "2025-06-25 00:00:00",
"source": "Google",
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"scraped_text": "Brex, the US-based corporate credit card provider tailored to start-ups, is raising new funds at a valuation of $8 billion.\n\nThe raise, set to roughly triple the San Francisco-founded start-up’s valuation, follows Brex’s application for an Industrial Loan Company (ILC) licence from the Federal Deposit Insurance Corporation (FDIC).\n\nAccording to sources speaking to The Information, Tiger Global Management, a hedge fund and venture investor are among those backing Brex’s latest undisclosed round.\n\nIt’s understood existing investors, such as Ribbit Capital, Greenoaks Capital and DST Global, are also participating in the round.\n\nCapital raising & acquisitions\n\nBrex launched its corporate card back in June 2018 with $57 million in funding from investors such as PayPal’s founders and Y Combinator.\n\nThe start-up went on to raise a $125 million Series C round in October 2018, at a valuation of $1.1 billion, and made its first acquisition.\n\nBy June 2019, it had raised $100 million at a $2.6 billion valuation, having raised an additional $100 million debt round just a couple of months prior with Barclays.\n\nThat same year, it made its first acquisition – blockchain-based digital payments solution, Elph Network.\n\nThen in March 2020, it bought three more start-ups in San Francisco. These included fellow blockchain-focused firm Neji, edtech Compose Labs, and Landria, a firm producing internal knowledge databases.\n\nTwo months later, Brex landed $150 million, marking its most recent closed funding round. Just a week after this raise, the fintech slashed 62 staff members. The cutbacks highlighted the struggle many fintechs faced during the height of the COVID-19 pandemic.\n\n“Brex Bank”\n\nTowards the end of last month, Brex announced it was embarking on the expensive road of a banking licence application.\n\nThe start-up is seeking the same banking licence US digital payments firm Square landed just shy of a year ago. Square also applied for the licence, which allows fintechs to hold FDIC-insured deposits, in the Beehive State.\n\nSo far, Brex has partnered with the likes of UMB Financial, Bank of the West, and – most recently – Radius Bancorp. Through these firms, Brex has offered its corporate credit cards and held deposits.\n\nSilicon Valley Bank’s former chief digital officer Bruce Wallace will head up what the fintech is calling “Brex Bank” as its CEO.\n\nWhilst Jean Perschon, UBS’s former chief financial officer (CFO) for its US arm, will serve as Brex Bank’s CFO. And Doyle Arnold, Zions Bancorp’s ex-chief financial officer, will serve as the bank’s chairman.\n\nRead next: US corporate card provider Brex applies for banking licence in Utah"
},
{
"ai_summary": "According to Brex data, Anthropic leads AI spending among startups, surpassing OpenAI by over two times in May, while OpenAI dominates enterprise spending by four times, indicating significant trends in AI tool adoption among startups and enterprises.",
"type": "Product Launches & Enhancements",
"url": "https://brex.com/journal/brex-benchmark-may-2025",
"title": "Brex data: Anthropic tops startup AI spend",
"company_name": "Brex",
"publisher": "Brex",
"published_date": "2025-06-05 00:00:00",
"source": "Wokelo",
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"scraped_text": "Every month, our customers spend billions of dollars on Brex. We're excited to share with you a glimpse into how they’re spending that money with The Brex Benchmark, a monthly snapshot of the top software and AI vendors by dollar spend on Brex, as well as overall SaaS and AI adoption rates across the Brex ecosystem. The goal of The Brex Benchmark is to help you understand where startups, enterprises, and other high-growth companies are investing in their technology stacks in 2025 and beyond. You can look forward to refreshed data charts with new trends and insights every month. You’ll notice we’ve broken out AI tools from SaaS tools, and that’s for two reasons: 1. to better track the defining technology shift of our era, and 2. credit-based pricing models make AI spending patterns look different from traditional software since costs scale directly with usage. From industry-standard SaaS products like Google and Twilio to emerging AI code and design tools like Cursor and Runway, here's an inside look at which vendors Brex customers are using to build the future faster. Note: We'll define \"startups\" as companies with under 250 employees and \"enterprises\" as those with 250+ employees. Top AI vendors Anthropic leads AI spending among startups — more than 2x OpenAI spending in May — and suggests Claude is the foundational model of choice for startups building with AI. However, OpenAI outpaced Anthropic spending by 4x in the enterprise, potentially reflective of OpenAI's longer market presence and breadth of offerings. Other AI spending insights: Startups and enterprises are investing heavily in Cursor for AI-powered coding and development, with organizations prioritizing AI-assisted workflows. Cloud-based vector database service Pinecone , a favorite among developers, is also a popular tool in companies of all sizes.\n\nfor AI-powered coding and development, with organizations prioritizing AI-assisted workflows. Cloud-based vector database service , a favorite among developers, is also a popular tool in companies of all sizes. One fast-growing AI app development tool in both segments is Replit (“the safest place for vibe coding”), which did not appear in April’s top 10 for either segment.\n\n(“the safest place for vibe coding”), which did not appear in April’s top 10 for either segment. In both segments, ElevenLabs and Runway are popular AI-generated media and voice synthesis tools accelerating audio and visual work, with image generation platform Midjourney a top-7 tool in the enterprise. Top SaaS vendors The top-10 SaaS tools remained the same for both segments in April and May 2025. Google continues to dominate startup spending, reflecting the importance of Google Workspace, Cloud Platform, and advertising services for growing companies. Project management and collaboration platform Atlassian leads enterprise spending with tools like Jira and Confluence. Atlassian is also among startups, ranking third over the past two months. Twilio is a top tool across both segments, holding the No. 2 spot for startups and enterprises in May. Twilio's communication infrastructure as a service helps companies add SMS, voice, video, and messaging to their apps, demonstrating both the platform's universal need and robust scalability. Other SaaS spending trends: Adobe’s roots run deep in both segments for creative software, but startups are gravitating more toward Figma’s collaborative, cloud-based design platform.\n\nroots run deep in both segments for creative software, but startups are gravitating more toward collaborative, cloud-based design platform. Indeed spending showed a slight uptick MoM among larger organizations, potentially indicating plans to boost hiring this summer.\n\nspending showed a slight uptick MoM among larger organizations, potentially indicating plans to boost hiring this summer. GoDaddy continues to be one of the most popular website hosting platforms across segments, with Squarespace also a top tool among startups. We expect to see these in future Brex Benchmarks since businesses rarely migrate core web infrastructure.\n\ncontinues to be one of the most popular website hosting platforms across segments, with also a top tool among startups. We expect to see these in future Brex Benchmarks since businesses rarely migrate core web infrastructure. Direct mail platform Stannp.com was a top-10 SaaS tool in the enterprise. This data supports a rising marketing trend of going analog to cut through the digital noise and directly connect with core audiences. Sumeet Marwaha is the Senior Manager of Data Science at Brex, supporting the Go-To-Market team in understanding how Brex customers spend, adopt tools, and grow their businesses. All analysis conducted for this report that uses Brex internal customer data is anonymized and aggregated for privacy. To learn more about how we use data in anonymized or aggregated form for these trend reports, email us at privacy@brex.com."
},
{
"ai_summary": "The Brex Business Account is a competitive cash management option for incorporated businesses, offering high interest rates and unlimited free transactions, but lacks physical branches and cash deposit capabilities, making it less suitable for those needing traditional banking features.",
"type": "Product Launches & Enhancements",
"url": "https://www.businessinsider.com/personal-finance/banking/brex-cash-review",
"title": "Brex Business Account Review 2025: Pros, Cons, and Alternatives",
"company_name": "Brex",
"publisher": "Businessinsider",
"published_date": "2025-03-10 00:00:00",
"source": "Google",
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"scraped_text": "lighning bolt icon An icon in the shape of a lightning bolt.\n\nlighning bolt icon An icon in the shape of a lightning bolt. Impact Link\n\nBusiness Insider's personal finance team compared the Brex Business Account (formerly known as the Brex Cash Account) to the best business checking accounts and found its a standard offering.\n\nIt's a good option if you have an incorporated business and are looking for a rewards business credit card, unlimited free monthly transactions, and a high interest rate. If you want more business banking options or want to open a business bank account that lets you deposit cash, other business checking accounts will be a better fit.\n\nBrex Business Banking Options\n\nBrex Business Account is a cash management account. A cash management account is a type of account you can find from fintech companies. It serves as an alternative option to traditional bank accounts.\n\nSome of Brex's advanced features include a business rewards credit card and a high interest rate on funds you deposit into a money market fund. It also has tools that help you auto-fill invoices, manage your bills, and more.\n\nBrex Business Account Fees no monthly service fee Annual Percentage Yield (APY) 3.99% Minimum Opening Deposit $0 Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. No minimum opening deposit\n\nCheck mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees\n\nCheck mark icon A check mark. It indicates a confirmation of your intended interaction. Up to $6 million is FDIC-insured in one account\n\nCheck mark icon A check mark. It indicates a confirmation of your intended interaction. Ability to earn a high interest rate\n\nCheck mark icon A check mark. It indicates a confirmation of your intended interaction. Unlimited free monthly transactions\n\nCheck mark icon A check mark. It indicates a confirmation of your intended interaction. Automated bill pay and expense management tools\n\nCheck mark icon A check mark. It indicates a confirmation of your intended interaction. Earn up to 7x cash back with rewards credit card and redeem rewards in multiple ways Cons con icon Two crossed lines that form an 'X'. No physical branches\n\ncon icon Two crossed lines that form an 'X'. Only includes a business credit card, no debit card\n\ncon icon Two crossed lines that form an 'X'. No way to deposit cash\n\ncon icon Two crossed lines that form an 'X'. No ATM access\n\ncon icon Two crossed lines that form an 'X'. Only available for incorporated businesses Insider’s Take The Brex Business Account is a good option if you have an incorporated business and are looking for a rewards business credit card, unlimited free monthly transactions, and high interest rate. You’ll want to look elsewhere if you want a business debit card and options for depositing cash. Show Pros, Cons, and More chevron down icon An icon in the shape of an angle pointing down.\n\nBrex Business Account Overview\n\nBrex is an online fintech company that provides services for businesses. Brex is not a bank, but it is partnered with several financial institutions to provide banking services, like the FDIC Sweep Program. You can find a list of banks partnered with Brex here.\n\nIt has a business account, rewards credit card, and business services like expense management and financial planning tools.\n\nThe Brex Business Account has two main strengths: It's affordable, and it has advanced features you might not find with other business accounts.\n\nAs for affordability, Brex has a $0 minimum opening deposit, and there's no monthly service fee. You can also make an unlimited number of free monthly transactions. Many business checking accounts allow a certain number of withdrawals per month, then charge a small fee for each additional transaction.\n\nBut Brex isn't the best choice if you're looking for a simple business account that fills your basic needs. You can't use ATMs or deposit cash.\n\nBrex Business Account Key Features and Benefits\n\nThe Brex Business Account comes with different money storage options: a checking account, a money market fund, and a cash sweep program. All three accounts involve storing your money with different outside vendors. Your three money storage options are:\n\nVault: Keep your money in the Vault to take part in a cash-sweep program. This account is FDIC-insured by Brex's partner banks. Because Brex has multiple partner banks, your funds are insured for up to $6 million. Uninvested cash does not earn any interest, though.\n\nTreasury: Invest your money in a money market fund that yields 3.99% APY. Invested money is not FDIC-insured, but can be a good tool for earning more with your account.\n\nChecking: Put your money where it will be easiest to automate bills and payments with ACH and checks. This checking account is the only money storage option that lets you transfer funds to and from external sources. Brex also allows you to send wires in over 40 currencies. Your money is insured up to $250,000 in this account, and it does not earn any interest.\n\nIn comparison, a bank account cannot be invested, and it's always FDIC- or NCUA-insured at a federally insured financial institution.\n\nBrex Fees and Charges\n\nThe Brex Business Account has no account opening fees, no monthly service fee, and no wire transfer fees.\n\nBrex has three subscription plans. All the plans have the Brex Business Account, but they have different tools and services to support your business.\n\nThe Essential Plan is best for startup companies and is no cost. The Premium Plan is most suited for mid-sized companies that are growing and is $12 user/month. The Enterprise Plan is for global companies and has custom pricing, so you must contact sales for more information.\n\nBrex Business Account Pros and Cons\n\nBrex Business Account Pros\n\n$0 minimum opening deposit and no monthly service fee\n\nEarn 3.99% APY by investing money in a money market fund\n\nNon-invested money is FDIC-insured for up to $6 million\n\nUnlimited free monthly transactions\n\nAutomated bill pay and expense management tool\n\nBrex Business Account Cons\n\nNo physical locations\n\nOnly available to incorporated businesses\n\nNo ATM network and cannot use a Brex card to deposit cash\n\nNo interest earned on funds not invested in a money market fund\n\nBrex Business Account Alternatives\n\nBrex Business Account vs. Axos Business Banking\n\nAxos Bank is the better option if you want a more traditional business banking experience. Axos Bank has business checking, savings, CD, and money market accounts, so you can choose the accounts that fit your needs and do all of your banking with the same company. It has a great free business checking account and offers unlimited out-of-network ATM fee refunds.\n\nYou may prefer Brex for more niche perks, like a rewards credit card or a high yield on invested funds.\n\nAxos Business Banking Review\n\nBrex Business Account vs. Bluevine Business Checking\n\nThe Bluevine Business Checking Account pays 1.30% APY on balances up to $250,000. To qualify for this rate, you must either spend $500 per month using your Bluevine debit card or receive customer payments of $2,500 or more each month.\n\nWhile this is a lower rate than what you'll earn on invested funds with Brex, you'll earn it on your regular balance — which means you can earn a competitive interest rate and receive FDIC insurance through Bluevine's partner bank simultaneously.\n\nBrex will be better if you need more FDIC insurance, though. With Bluevine, up to $3 million is secure in an account. Because Brex has multiple partner banks, you can insure up to $6 million.\n\nBluevine Business Checking Review\n\nBrex User Experience and Platform\n\nThe Brex mobile app has 4.9 out of 5 stars in the Apple store and 4.4 out of 5 stars in the Google Play store. Keep in mind that Brex has received fewer than 7,000 reviews in either app store, though. Traditional banks with business banking products have received significantly more reviews.\n\nBrex provides 24/7 customer support, both via live chat and over the phone.\n\nIs Brex Trustworthy?\n\nThe Better Business Bureau gives Brex an A+ rating. A strong BBB grade indicates that a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.\n\nBrex also has not been involved in any recent public controversies.\n\nWhy You Should Trust Us: How We Reviewed the Brex Business Account\n\nAt Business Insider, we used our bank account methodology to review Brex. For business checking accounts, we look at minimum deposits, monthly fees, free transaction limits, ATM access, customer service, mobile app ratings, miscellaneous features, and the company's ethics and security.\n\nWe assign each category a rating between 0 and 5, then calculate the weighted average to assign Brex a star rating. Our scale for star ratings is one to five stars. A one-star rating indicates a low score, while a five-star rating indicates a high score.\n\nBrex Business Account FAQs\n\nIs Brex a legit bank? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Brex is a legitimate fintech company, but it is not a bank. It is backed by multiple banks that provide FDIC insurance, so up to $6 million is safe should Brex shut down.\n\nWhat types of rewards can businesses earn with Brex? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. With the Brex Credit Card, you can use points for gift cards, travel accommodations, and statement credits.\n\nIs there a fee to open a Brex Business Account? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. There aren't any fees for opening the Brex Business Account. You can also open an account with $0.\n\nHow user-friendly is the Brex platform? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Brex has overall solid ratings in the Google Play and Apple store. Keep in mind it doesn't have as many reviews as other business banking options, though.\n\nIs Brex a good business account? Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Brex is a good business account if you have an incorporated business, want a competitive business rewards credit card, and would like to earn a high interest rate. It's relatively affordable, with a $0 minimum deposit, no monthly service fee, and unlimited monthly transactions. But if you want to use ATMs or need to deposit cash, it's not a good business account for your company."
},
{
"ai_summary": "Revolut CEO Nik Storonsky criticized European startups for not working hard enough and overvaluing work-life balance, stating that this cultural mindset contributes to Europe's lag behind the US in investment and talent. He emphasized the challenges posed by Europe's fragmented geography and regulatory environment.",
"type": "Executive Commentary & Interviews",
"url": "https://tech.eu/2025/03/03/european-startups-not-working-hard-enough-to-achieve-success-says-revolut-boss/",
"title": "European startups not “working hard enough to achieve success”, says Revolut boss",
"company_name": "Brex",
"publisher": "Tech.eu",
"published_date": "2025-03-03 00:00:00",
"source": "Wokelo",
"author": "",
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"scraped_text": "The CEO of Europe’s most valuable tech startup has criticised the mentality of European startups saying they are not working hard enough to achieve success and value a work-life balance too highly. The criticism from Revolut co-founder Nik Storonsky follows comments made last week by the co-founders of payment giant Stripe, who made a plea for capital markets, regulatory, and labour reform across Europe, saying the continent was facing an “existential\" crisis. Europe’s startup ecosystem lags behind the US in terms of investment, access to capital and talent. For example, in 2023 European startups raised less than half the funding, $52bn of those in the US, $138bn. Speaking on a podcast with Henrique Dubugras, founder and chairman of fintech Brex, Storonsky was questioned about the lack of successful startups and tech firms emanating from Europe compared to the US and China. Storonsky said: “I think it is a cultural thing. People are more kind of, you know, protected, entitled, and they value kind of work-life balance much more compared to US or China. “As a result, you just don’t have people working hard enough to achieve success.” Allied to that, Storonsky said that Europe was behind the US in terms of wealth but Europeans had better job security due to regulations which made it “harder to build a large company”. Stroronsky, who is Russian-born, also said Europe’s fragmented geography and fragmented regulatory regime, meaning that startups had to launch country-by-country, unlike in the US, was also a hindrance. However, the CEO pointed out that, in terms of recruitment, there was still talent in Europe at the elite level to help build successful startups. Ad Last year, Nicolai Tangen, the boss of Norway’s $1.6tn Norges Bank Investment Management (The Petroleum fund), said: “Europe is less hard-working, less ambitious, more regulated, and more risk-averse than the US, with the gap between the two continents only getting wider.” In August last year, Revolut was valued at $45 billion, following an employee secondary share sale, making it Europe’s most valuable startup.\n\nFollow the developments in the technology world. What would you like us to deliver to you? Weekly Newsletter\n\nEvent Announcements\n\nDaily Newsletter Save my choices Your subscription registration has been successfully created."
},
{
"ai_summary": "Brex has experienced significant growth in its enterprise business, achieving an 80% revenue increase and gaining notable clients like Anthropic and Robinhood, as companies seek integrated financial solutions for better spend management amid economic challenges.",
"type": "Partnerships & Alliances",
"url": "https://www.crowdfundinsider.com/2025/02/236693-brex-grows-enterprise-business-as-anthropic-robinhood-others-select-fintech-platform-as-spend-solution/",
"title": "Brex Grows Enterprise Business as Anthropic, Robinhood, Others Select Fintech Platform as Spend Solution",
"company_name": "Brex",
"publisher": "Crowdfund Insider",
"published_date": "2025-02-25 00:00:00",
"source": "Wokelo",
"author": "Omar Faridi",
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"scraped_text": "Brex Grows Enterprise Business as Anthropic, Robinhood, Others Select Fintech Platform as Spend Solution By\n\nListen to this article 0:00 / 1:15 1X BeyondWords Brex, the spend platform for businesses from startups to enterprises, announced its enterprise business grew revenue “80%, while net revenue retention was nearly 140% YoY.” This past year, Brex’s overall revenue growth reportedly “grew threefold with net revenue retention up 15 points.” Brex now serves public companies and global industry platforms such as Anthropic, Arm (NASDAQ: ARM), Robinhood (NASDAQ: HOOD), ServiceTitan (NASDAQ: TTAN), Sonos (NASDAQ: SONO) and Wiz. In total, Brex’s enterprise customers have an “estimated market cap of more than $2.9T.” The continued addition of blue-chip customers “underscores the rapid growth in Brex’s enterprise business over the past year, following triple-digit growth the year prior.” As enterprise CFOs and finance leaders navigate an evolving business and economic landscape – “facing inflation, potential tariffs, rising costs of capital and more – they’ve had to adapt how they manage spend and the platforms they use.” Main priorities now reportedly include “vendor consolidation, seamless global operations, accounting automation, and more granular spend controls.” CFOs no longer want to rely on point solutions and “disparate third-party tools to manage their company’s finances.” Instead, they are choosing integrated, interoperable solutions that help them reduce overhead and “gain real-time visibility to empower them to make better business decisions.” Today, Brex is the platform positioned to meet all of these needs, with finance leaders trusting Brex to “deliver an implementation experience and support.” Pedro Franceschi, CEO of Brex said: “Our proprietary global financial infrastructure is the only solution that can reliably support companies with global, multi-currency operations, offering locally issued corporate cards, local settlement, and local reimbursements across 50+ countries. It’s a strong market signal when leading enterprise businesses like Arm, Robinhood, ServiceTitan, Sonos, Wiz, and so many more confidently use Brex to control spend, operate globally, automate their close, and make every dollar count.” Gaurav Saxena, Senior Director at Robinhood said: “Before Brex, we had multiple point-solutions for spend management. This was unsustainable, and did not facilitate effective control, transparency, or scalability. With Brex, we can easily manage our global spend in one place.” Connor Theilmann, Chief Business Officer at ServiceTitan said: Simplifying our financial workflows and gaining real-time visibility into our spend data was essential for us when looking for a corporate card and spend management solution – and we found that with Brex. Now we have a consolidated financial stack that directly integrates with the tools we already use, allowing us better visibility and control.” As covered, Brex is the modern spend platform, “combining the corporate card with integrated expense management, banking, bill pay, accounting automation, travel.” Brex explains that it makes it easy to control spend “before it happens, automate manual work, and optimize your finances.” That’s why companies from startups to enterprises — “including Anthropic, SeatGeek, and DoorDash — use Brex to make every dollar count.” Founded in 2017, Brex says that it enables billions of dollars in transactions every year across 120 countries."
},
{
"ai_summary": "Brex's enterprise business has experienced an impressive 80% revenue growth and nearly 140% net revenue retention year-over-year, attracting major clients such as Anthropic, Arm, and Robinhood, underscoring its position as a leading modern spend platform in a challenging economic environment.",
"type": "Partnerships & Alliances",
"url": "https://www.marketscreener.com/quote/stock/SERVICETITAN-INC-179888222/news/Brex-Grows-Enterprise-Business-80-as-Anthropic-Arm-Robinhood-ServiceTitan-Sonos-Wiz-and-More-49144405/",
"title": "Brex Grows Enterprise Business 80% as Anthropic, Arm, Robinhood, ServiceTitan, Sonos, Wiz, and More Select Brex as their Modern Spend Platform",
"company_name": "Brex",
"publisher": "MarketScreener",
"published_date": "2025-02-24 00:00:00",
"source": "Wokelo",
"author": "MarketScreener",
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"scraped_text": "SAN FRANCISCO, Feb. 24, 2025 /PRNewswire/ -- Brex, the modern spend platform for growing businesses from startups to enterprises, today announced its enterprise business grew revenue 80%, while net revenue retention was nearly 140% YoY. This past year, Brex's overall revenue growth grew threefold with net revenue retention up 15 points. https://mma.prnewswire.com/media/2212643/Brex_Logo.html\" target=\"_blank\" rel=\"nofollow\"> https://mma.prnewswire.com/media/2212643/Brex_Logo.jpg\" title=\"Brex (PRNewsfoto/Brex)\" alt=\"Brex (PRNewsfoto/Brex)\"/> Brex now serves over 150 public companies and global industry leaders such as Anthropic, Arm (NASDAQ: ARM), Robinhood (NASDAQ: HOOD), ServiceTitan (NASDAQ: TTAN), Sonos (NASDAQ: SONO) and Wiz. In total, Brex's enterprise customers have an estimated market cap of more than $2.9T. The continued addition of blue-chip customers underscores the rapid growth in Brex's enterprise business over the past year, following triple-digit growth the year prior. As enterprise CFOs and finance leaders navigate an evolving business and economic landscape – facing inflation, potential tariffs, rising costs of capital and more – they've had to adapt how they manage spend and the platforms they use. Main priorities now include vendor consolidation, seamless global operations, accounting automation, and more granular spend controls. CFOs no longer want to rely on point solutions and disparate third-party tools to manage their company's finances. Instead, they are choosing integrated, interoperable solutions that help them reduce overhead and gain real-time visibility to empower them to make better business decisions. Today, Brex is the only platform uniquely positioned to meet all of these needs, with finance leaders trusting Brex to deliver a premium implementation experience and best-in-class support. \"In the past year, Brex has proven itself to be the leader in spend management for enterprise businesses,\" said Pedro Franceschi, CEO of Brex. \"Our proprietary global financial infrastructure is the only solution that can reliably support companies with global, multi-currency operations, offering locally issued corporate cards, local settlement, and local reimbursements across 50+ countries. It's a strong market signal when leading enterprise businesses like Arm, Robinhood, ServiceTitan, Sonos, Wiz, and so many more confidently use Brex to control spend, operate globally, automate their close, and make every dollar count.\" \"We chose Brex as our spend provider because they truly understand the nuances of managing the financial complexities of a rapidly growing global company. Not only is Brex uniquely able to issue local cards in the currencies we operate in today, BrexPay for Navan also enables us to achieve 100% reconciliation of our global travel and expenses,\" said Adam Dix, Head of Finance Operations at Anthropic. \"Before Brex, we had multiple point-solutions for spend management. This was unsustainable, and did not facilitate effective control, transparency, or scalability. With Brex, we can easily manage our global spend in one place,\" said Gaurav Saxena, Senior Director at Robinhood. Simplifying our financial workflows and gaining real-time visibility into our spend data was essential for us when looking for a corporate card and spend management solution - and we found that with Brex. Now we have a consolidated financial stack that directly integrates with the tools we already use, allowing us better visibility and control,\" said Connor Theilmann, Chief Business Officer at ServiceTitan. About Brex\n\nBrex is the modern spend platform, combining the world's smartest corporate card with integrated expense management, banking, bill pay, accounting automation, travel, and more. Brex makes it easy to control spend before it happens, automate manual work, and optimize your finances. That's why over 30,000 companies from startup to enterprises — including Anthropic, SeatGeek, and DoorDash — use Brex to make every dollar count. Founded in 2017, Brex enables tens of billions of dollars in transactions every year across 120 countries. To learn more, visit brex.com. Contact\n\nDanielle Bereznak, Director, External Communications\n\npress@brex.com https://c212.net/c/img/favicon.png?sn=SF24701&sd=2025-02-24\"/> View original content to download multimedia:https://www.prnewswire.com/news-releases/brex-grows-enterprise-business-80-as-anthropic-arm-robinhood-servicetitan-sonos-wiz-and-more-select-brex-as-their-modern-spend-platform-302382964.html SOURCE Brex"
},
{
"ai_summary": "The 2024 Controller of the Year Awards announced its winners on February 11, 2025, recognizing top corporate finance professionals across various categories, with Manoj Kumar Vandanapu from UBS awarded the National Controller of the Year title.",
"type": "",
"url": "https://www.prnewswire.com/news-releases/2024-controller-of-the-year-awards---winners-announced-302373909.html",
"title": "2024 Controller of the Year Awards - Winners Announced",
"company_name": "Brex",
"publisher": "PR Newswire",
"published_date": "2025-02-11 00:00:00",
"source": "Wokelo",
"author": "Controllers Council",
"countries": [],
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"scraped_text": "CHICAGO, Feb. 11, 2025 /PRNewswire/ -- Winners of the 2024 Controller of the Year Awards have been selected after a nomination period and judging process that began in October 2024. The fifth annual program is produced by the Controllers Council , a member association and community focused on career development, training resources, research, and recognition. Corporate Controllers and related titles that have Controller responsibilities including VPs, CFOs, Chief Accounting Officers, and related roles are eligible to enter. Applicants can self-nominate or be nominated by a colleague via a brief online survey that requests anonymous information on 2024 financial performance, work experience, volunteer or philanthropic activities, and educational background. All nominations were screened by an algorithm and then judged by Controllers Council Board Advisors. The following Winners and Runners-Up are announced for 8 categories based on size and type, along with public or private classifications, where applicable. Category/Classification : 2024 Winners . Company/Org , Title 2024 National Controller of the Year: Manoj Kumar Vandanapu, UBS, Finance Controller Enterprise/Public/Winner: Gene Liu, Atlassian, Chief Accounting Officer\n\nEnterprise/Public/Runner-Up: Ting Song, JP Morgan Chase, Executive Director\n\nEnterprise/Private/Winner: Kevin Moore, Brex, Controller Medium/Private/Winner: Alicia Allen, Pinnacol Assurance, Chief Accounting Officer\n\nMedium/Private/Runner-Up: Michael LaBorde, 8020 Consulting, CFO Small/Public/Winner : Kimberly Hollinger, Wag Group Co., Corporate Controller\n\nSmall/Private/Winner: Sondra Dankberg, Chosen Foods, Controller\n\nSmall/Private/Runner-Up: Anthony Davlin, Enviromatic Corporate of America, Controller Not-For-Profit/Winner: Dorian Davis, WETA, Corporate Controller\n\nNot-For-Profit/Runner-Up: Lovely Kuriakose, COLA Inc, Controller/Treasurer Government: Matt Magee, City of Ordessa, Controller \"Controllers and related corporate finance executives continued to achieve excellence in 2024, and the Controller of the Year Awards recognizes some of best and the brightest,\" states Neil Brown, Controllers Council Executive Director. All winners will be notified by email and receive a frame-quality Certificate. The 2024 National Controller of the Year will receive a gold-plated and engraved statuette/trophy manufactured by the makers of the Oscar® Awards. Applications and registration for the 2025 Controller of the Year Awards will begin in October of 2025 at the following link: https://controllerscouncil.org/recognition/ ABOUT Controllers Council\n\nControllers Council™ is a national member association, community and platform of more than 100,000 Controllers, CFOs, and corporate accounting and finance professionals focused on career development and training, best practice resources, networking, recognition and more. Programs include continuing professional education (CPE), a national Career Center, strategic research studies, webcasts with expert panelists on trending topics, articles and whitepapers. Controllers Council publishes the annual CFO/Controller Sentiment™ Study, the Corporate Finance & Accounting Talent Study, the CFO/Controller Financial Performance Index™ (FPI); and produces the annual Controller of the Year™ Awards, Meet the Controller™ Interview Series, the Controllers for a Cause™ Scholarship Fund, and the upcoming Controllership 2030™ - Predictions Panel and study. For more information, visit www.ControllersCouncil.org. SOURCE Controllers Council"
},
{
"ai_summary": "American Express CEO Steve Squeri highlighted the company's vigilance towards fintech competitors like Ramp and Brex during a strong earnings report, expressing confidence in Amex's offerings and noting the firm's focus on small businesses despite challenges. Squeri also commented on the potential Capital One-Discover acquisition, indicating it would shape the competitive landscape.",
"type": "Executive Commentary & Interviews",
"url": "https://www.americanbanker.com/payments/news/amex-earnings-match-wall-street-estimates",
"title": "'We keep an eye on Brex and Ramp': Amex CEO on fintech rivals",
"company_name": "Brex",
"publisher": "American Banker",
"published_date": "2025-01-24 00:00:00",
"source": "Wokelo",
"author": "John Adams",
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"scraped_text": "Amex Chairman and CEO Steve Squeri During an otherwise strong earnings report, American Express CEO Steve Squeri said his firm is keeping watch on the progress of rivals, such as small-business-focused fintechs and potential competition that would result from Discover's acquisition of Capital One. During analyst questioning on Friday, Squeri was asked about the progress of firms like Ramp and Brex, which offer small-business payments technology. Other payment firms such as Stripe and Block also sell payments and offer credit to small businesses. \"We feel good about the progress that we are making, and yes, we keep an eye on Ramp and Brex. They both have good products and are making some inroads and we will make sure we are responding to that,\" said Squeri, who would not comment on whether Amex was pursuing acquisitions in the fintech industry. He also suggested Amex's mix of loyalty programs and customer experience matches consumer preferences more than the \"cash back\" focus of consumer payment fintechs. Squeri also weighed in on the potential Capital One acquisition of Discover, a deal that could create one of the largest payment and card companies in the U.S. The Capital One-Discover deal ran into political headwinds during the Biden administration. The Trump administration is more likely to take a friendly posture to large acquisitions in the financial services industry. \"It's a really good deal for them,\" Squeri said. \"[Capital One] will have their hands full with integrating Discover over the next few years. We will evolve with our regular product refreshes.\"\n\nBullish on consumers For the quarter ending Dec. 31, Amex reported net income of $2.17 billion, or $3.04 per share and total revenue net of interest expense of $17.18 billion, in line with Zacks' analysts consensus estimates of $3.03 per share on revenues of $17.18 billion. Earnings per share for the fourth quarter of 2024 was up from 2023's fourth-quarter EPS of $2.62. The company additionally reported full-year revenue of $65.9 billion, up 10% on a foreign exchange-adjusted basis over 2023, record net income of $10.1 billion and EPS of $14.01, up 25% over 2023. For the full year 2025, Amex projects revenue growth between 8% and 10%, and EPS between $15 and $15.50. Analysts have forecast 2025 EPS of $15.24. Consumer spending trends in the first few weeks of 2025 were in line with a strong holiday season, Amex said, noting that could push 2025's outlook to the high end of its projection. \"Consumer sentiment is higher than it has been for some time,\" Squeri said. \"That's what gives us hope for the year.\" Credit cards What Capital One would get from buying Discover Amex recorded record levels of annual card member spending, record net card fee revenues and a record 13 million new card acquisitions, Squeri said. \"We are encouraged by accelerating billings growth as we believe it will be a key factor for American Express to meet its aspirational target of at least 10% revenue growth,\" the analyst firm William Blair said in a research note. \"We believe the company has multiple levers to support midteens EPS growth in the current environment.\"\n\nWhere Amex is placing bets Amex also asserted that while small businesses have struggled in recent years, the firm views the sector as a strong long-term bet. Amex has used its acquisition of small-business lender Kabbage in 2020 to support its diversification beyond travel payments and as a way to cross-sell to younger consumers to build share in international markets, where it lags behind Visa and Mastercard. \"With SME, we still continue to acquire new customers at the same rate, organic spending has still not come back to the level we saw pre-Covid,\" Squeri said. Amex in 2024 increased investments in its core hospitality and travel verticals, entering a deal with ticketing platform Tock and adding a $100 yearly statement credit for gold card users at Resy-linked U.S. restaurants. The card company's other activities in the second half of 2024 included acquiring 50% of the Swisscard venture that Amex did not own. The deal, which should close early this year, is part of Amex's attempt to expand outside of the U.S. Mastercard and Visa lead Amex in international markets, with Amex's share in Europe running from 1% to about 10%, depending on the country, according to Statista. Amex's market share in Switzerland is about 20%, according to Ask Wonder. By taking full control of Swisscard, Amex hopes to gain share of payments at restaurants and small businesses. The strategy will face challenges as the deal stipulates that Swisscard will issue cards for Visa and Mastercard as well as Amex. Earlier in 2024, Amex signed an updated agreement with payment processor Worldpay , a move designed to increase the number of locations where American Express cards can be used in the U.K. The two firms are also collaborating on technology that is designed to improve the checkout experience for Worldpay merchants, which can also receive a single statement for reconciliation and gain access to a simpler onboarding process. Throughout the recent economic stress in the payments technology industry and period of higher inflation, Amex has stressed that its consumer base, which consists of a high amount of higher income and mass affluent customers, is shielded from weakness. \"Both top and bottom line results posed no big surprises, while card spending volume and growth were strong across all the segments driven by holiday season sales. Credit is also improving,\" Jeffries said in a research note. Among other major U.S. card companies, Visa and Mastercard are both scheduled to report earnings on Jan. 30.\n\n"
},
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"ai_summary": "Brex has secured USD 235 million in funding to enhance its global corporate card offerings and associated expense management solutions, facilitated by Citi and TPG Angelo Gordon. This investment will support the company's growth amid increasing reliance on credit cards by small to medium enterprises.",
"type": "Equity Fund-Raising",
"url": "https://thepaypers.com/payments-general/brex-secures-usd-235-million-to-accelerate-card-product-growth--1271757",
"title": "Brex secures USD 235 million to accelerate card product growth",
"company_name": "Brex",
"publisher": "Paypers",
"published_date": "2025-01-15 00:00:00",
"source": "Wokelo",
"author": null,
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"scraped_text": "This expands the company’s ability to provide global corporate cards and solutions for expense management, travel, banking, and bill pay. Citi serves as a senior lender for the credit facility, and it was joined by TPG Angelo Gordon as a participating lender.\n\n\n\n\n\n\n\n\n\n\n\nCorporate card solutions\n\nA report by GRENKE UK notes how over half of SMEs are relying on credit cards for financing, despite the drawbacks and inefficiencies associated with this method.\n\nMost small businesses have credit as another source of liquidity besides cash, often with credit cards playing a role. In 2019, there was USD 368 billion in small business commercial and industrial loans outstanding, and over 46% of this amount was for loans less than USD 100,000.\n\nThis credit facility, combined with Brex's existing warehouse facilities and securitisation trust, through which the company has closed three securitization issuances to date, will help provide global corporate cards coupled with expense management, travel, banking, and bill pay solutions to customers ranging from startups to global enterprises.\n\nTPG aims to provide capital support to Brex in pursuit of modern spend management solutions for businesses of all sizes.\n\n\n\n\n\nBrex’s latest updates\n\nThe news of Brex’s credit facility followed partnerships and new product introductions announced by the company.\n\nThe company executed three major releases in 2024. In winter, it introduced an AI-powered bill pay and expense flagging solution, to automatically detect out-of-policy spend on receipts.\n\nFollowing this, the company launched an AI-powered accounting with a continuous close card control centre to manage cards at scale, and a UI solution with more than 100 improvements, according to Brex.\n\nTheir fall release featured an impact dashboard that helps users control spend, save time, and earn more money, with benchmarks against peers, as well as AI-based search and global bill pay.\n\nBrex also teamed up with Navan in October 2024 to launch a new joint offering for enterprises that implements travel payments into one workflow using the Navan travel management system."
},
{
"ai_summary": "Brex has secured a $235 million credit facility with Citi and TPG Angelo Gordon to help accelerate the growth of its card products.",
"type": "Equity Fund-Raising",
"url": "https://www.brex.com/journal/press/brex-secures-235-million-credit-facility-tpg-citi",
"title": "Brex Secures $235 Million Credit Facility with Citi and TPG Angelo Gordon to Accelerate Card Product Growth",
"company_name": "Brex",
"publisher": "Brex",
"published_date": "2025-01-14 00:00:00",
"source": "Wokelo",
"author": null,
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"scraped_text": "Brex Inc. | 650 S 500W Suite 300 | Salt Lake City, UT 84101 Brex is a financial technology company, not a bank. The Brex business account consists of Checking, a commercial checking account provided by Column N.A., Member FDIC, and Treasury and Vault, cash management services provided by Brex Treasury LLC, Member FINRA/SIPC. Securities are offered through Brex Treasury LLC. Funds in Treasury are not FDIC-insured. Funds in Vault at program banks are eligible for FDIC insurance. Funds are not FDIC-insured until they arrive at program banks. Conditions apply. Investing in securities involves risk and loss of money. Yield and return are variable and fluctuate. Past performance is not a guarantee of future results. This is not an offer to, or implied offer, or a solicitation to, buy or sell any securities. Brex Treasury LLC does not provide legal, tax, or investment advice. The latest statement of financial condition for Brex Treasury LLC is available here. The Brex Mastercard® Corporate Credit Card is issued by Emigrant Bank or Fifth Third Bank N.A, pursuant to licenses by Mastercard International Inc., or Airwallex (Netherlands) B.V. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Inc. The Brex Commercial Card is issued by Sutton Bank, pursuant to a license from Visa® U.S.A. Inc. Valid only in the US. Card can be used where Visa® debit cards are accepted. No ATM access. All loans are subject to approval, including underwriting, credit, and collateral approval, as well as availability restrictions. Nothing herein should be construed as a commitment to lend.\n\nCertain payment services are provided by Brex Payments LLC, a licensed money transmitter (NMLS #2035354). Some Brex products have associated fees. Plans start at $0 per user, per month, and more advanced features are available for $12 per user, per month."
},
{
"ai_summary": "Brex has secured a $235 million credit facility to enhance its global corporate card offerings and improve solutions for expense management, travel, banking, and bill pay. The funding, provided by Citi and TPG Angelo Gordon, aims to strengthen Brex's market position and support its growing product suite.",
"type": "Equity Fund-Raising",
"url": "https://www.pymnts.com/credit-cards/2025/brex-secures-235-million-dollar-credit-facility-global-corporate-cards/#:~:text=Brex%20secured%20a%20%24235%20million,Jan.%2013)%20press%20release.",
"title": "Brex Secures $235 Million Credit Facility for Global Corporate Cards",
"company_name": "Brex",
"publisher": "PYMNTS.com",
"published_date": "2025-01-13 00:00:00",
"source": "Wokelo",
"author": "PYMNTS",
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"scraped_text": "Brex secured a $235 million credit facility to expand its ability to provide global corporate cards and solutions for expense management, travel, banking and bill pay.\n\nBy completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions .\n\nComplete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.\n\nThe credit facility was provided by senior lender Citi and participating lender TPG Angelo Gordon, Brex said in a Monday (Jan. 13) press release.\n\nIt joins the company’s existing warehouse facilities and master securitization trust, according to the release.\n\n“This transaction highlights the continued momentum of Brex’s card offering and our entire product suite,” Brex Chief Financial Officer Ben Gammell said in the release. “Our capital position remains exceptionally strong, and this credit facility, which follows our largest and most robust securitization to date, allows us to further scale our card solution and empower our customers in making every dollar count.”\n\nWe’d love to be your preferred source for news. Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks! Add as Preferred Source\n\nCorporate credit cards stand out as the preferred choice for 52% of small- to medium-sized businesses (SMBs) searching for alternative financing, according to the PYMNTS Intelligence report “What’s Next in Credit: Why SMBs Prefer Corporate Credit Cards for Short-Term Financing.”\n\nThe report found that nearly 92% of the surveyed firms said they opted for corporate cards as a working capital solution because of the ability to cover predictable expenses, and almost 80% mentioned using business cards to address unexpected expenses.\n\nAdvertisement: Scroll to Continue\n\nThe news of Brex’s credit facility followed partnerships and new product introductions announced by the company.\n\nThe company said in October that it revamped its partnership program designed for accounting, bookkeeping and outsourced and fractional CFO firms. As part of the revamp, the Brex Accounting Partnership Program added new product experiences, services and dedicated programs for accounting professionals.\n\nBrex also teamed up with Navan in October to launch a new joint offering for enterprises that streamlines travel payments into one workflow when using the Navan travel management system. With the combination of Navan’s travel services and Brex’s global corporate cards, BrexPay for Navan provides an integrated business travel and payments solution.\n\nIn September, Brex launched an embedded payments solution designed to make it easy for B2B software vendors to accelerate customer workflows with Brex virtual cards. Brex Embedded complements the company’s corporate card and spend management platform for startups and enterprises.\n\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter."
},
{
"ai_summary": "Brex has secured a $235 million credit facility to enhance its global corporate card offerings and expense management solutions, supported by Citi and TPG Angelo Gordon. This financing aims to further scale Brex's card solutions, which are increasingly favored by small- to medium-sized businesses for managing predictable and unexpected expenses.",
"type": "Equity Fund-Raising",
"url": "https://www.pymnts.com/credit-cards/2025/brex-secures-235-million-dollar-credit-facility-global-corporate-cards/",
"title": "Brex Secures $235M Credit Facility for Global Corporate Cards",
"company_name": "Brex",
"publisher": "Pymnts",
"published_date": "2025-01-13 00:00:00",
"source": "Google",
"author": "",
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"scraped_text": "Brex secured a $235 million credit facility to expand its ability to provide global corporate cards and solutions for expense management, travel, banking and bill pay.\n\nThe credit facility was provided by senior lender Citi and participating lender TPG Angelo Gordon, Brex said in a Monday (Jan. 13) press release.\n\nIt joins the company’s existing warehouse facilities and master securitization trust, according to the release.\n\n“This transaction highlights the continued momentum of Brex’s card offering and our entire product suite,” Brex Chief Financial Officer Ben Gammell said in the release. “Our capital position remains exceptionally strong, and this credit facility, which follows our largest and most robust securitization to date, allows us to further scale our card solution and empower our customers in making every dollar count.”\n\nCorporate credit cards stand out as the preferred choice for 52% of small- to medium-sized businesses (SMBs) searching for alternative financing, according to the PYMNTS Intelligence report “What’s Next in Credit: Why SMBs Prefer Corporate Credit Cards for Short-Term Financing.”\n\nThe report found that nearly 92% of the surveyed firms said they opted for corporate cards as a working capital solution because of the ability to cover predictable expenses, and almost 80% mentioned using business cards to address unexpected expenses.\n\nThe news of Brex’s credit facility followed partnerships and new product introductions announced by the company.\n\nThe company said in October that it revamped its partnership program designed for accounting, bookkeeping and outsourced and fractional CFO firms. As part of the revamp, the Brex Accounting Partnership Program added new product experiences, services and dedicated programs for accounting professionals.\n\nBrex also teamed up with Navan in October to launch a new joint offering for enterprises that streamlines travel payments into one workflow when using the Navan travel management system. With the combination of Navan’s travel services and Brex’s global corporate cards, BrexPay for Navan provides an integrated business travel and payments solution.\n\nIn September, Brex launched an embedded payments solution designed to make it easy for B2B software vendors to accelerate customer workflows with Brex virtual cards. Brex Embedded complements the company’s corporate card and spend management platform for startups and enterprises.\n\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter."
},
{
"ai_summary": "The article discusses the resurgence of business travel in 2025, highlighting the need for better expense management and the adoption of virtual cards as companies increase travel budgets for face-to-face meetings. Key developments include partnerships between financial and travel services to streamline travel payments and enhance cost control.",
"type": "Partnerships & Alliances",
"url": "https://www.pymnts.com/spend-management/2025/business-travel-bounce-in-2025-demands-better-expense-management-and-virtual-cards/",
"title": "Business Travel Bounce in 2025 Demands Better Expense Management and Virtual Cards",
"company_name": "Brex",
"publisher": "PYMNTS.com",
"published_date": "2025-01-06 00:00:00",
"source": "Wokelo",
"author": "PYMNTS",
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"scraped_text": "The corporate road warrior may log many a mile in 2025.\n\nThe pandemic is but a memory; the face-to-face meeting, the conventions, the trade shows and meet-ups with vendors and suppliers look to be on a sustainable rebound.\n\nIn the waning weeks of last year, the Global Business Travel Association corporate travel firms said that business travel met or exceeded expectations in 2024. More than two-thirds of firms say they are optimistic for 2025. A majority of corporates see boosting their own travel budgets for in-person meetings and conferences.\n\nThree in five buyers of commercial travel services say their employees are attending more meetings and conferences than had been seen last year. For the companies sending those employees out, controlling costs remains paramount and has been cited by 78% of firms queried.\n\nCorporate Cards and Reconciliation\n\nCorporate cards and expense management systems are being linked to help streamline the efforts to monitor and reconcile costs. In one announcement, Brex and Navan said in October that they have launched a new joint offering for enterprises that streamlines travel payments into one workflow. BrexPay for Navan provides an integrated business travel and payments solution by pairing Navan’ travel services and Brex’s global corporate cards. And in May, as reported by PYMNTS, American Express teamed with travel and expense software provider Emburse.\n\nThrough the joint efforts, customers connect their card programs to Emburse Spend to issue virtual cards, a payment option that replaces a physical card number with a digital card number. The program is designed for American Express business, corporate and corporate purchasing card customers embracing a single solution for virtual card issuance, card reconciliation and expense management.\n\nSeparately, Mastercard and NatWest partnered to introduce a mobile virtual card payment tool for businesses in the United Kingdom. Approval2Buy is the first service in Europe to use Mastercard’s mobile virtual card app, per the companies’ announcements. And just weeks ago, global travel and expense management firm Mesh Payments said it was working with SoFi Bank as its sponsor bank and with Galileo Financial Technologies to integrate Mesh’s expense and card infrastructure with Galileo’s payments processing platform.\n\nCommercial Travel Firms\n\nSome of the same trends that are changing corporate travel — the shift to digital payments, more robust back end processes, virtual cards — are also in evidence for the commercial travel firms serving enterprise clients.\n\nAs PYMNTS Intelligence found, in its Growth Corporates Working Capital Index, commissioned by Visa, use of working capital solutions, including virtual cards, is set to grow by 25% for commercial travel firms. Business expansion is among the top reasons that corporations embrace working capital. The data show that 87% of commercial travel firms are likely to use at least one corporate travel solution in the current year — and 73% of firms surveyed in this vertical said they’d do so to use those solutions strategically."
},
{
"ai_summary": "Brex has revamped its Accounting Partnership Program for accounting and CFO firms, introducing new tools and services to enhance efficiency and support growth, following a recent restructuring aimed at improving company dynamics.",
"type": "Partnerships & Alliances",
"url": "https://www.pymnts.com/partnerships/2024/brex-launches-revamped-partnership-program-for-accounting-firms/",
"title": "Brex Launches Revamped Partnership Program for Accounting Firms",
"company_name": "Brex",
"publisher": "PYMNTS.com",
"published_date": "2024-10-22 00:00:00",
"source": "Wokelo",
"author": "PYMNTS",
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"scraped_text": "Brex has revamped its partnership program designed for accounting, bookkeeping and outsourced and fractional CFO firms.\n\nThe Brex Accounting Partnership Program now includes new product experiences, services and dedicated programs for accounting professionals, the company said in a blog post.\n\n“We made it a priority to recommit to our accounting partnership program and help make it a growth accelerator for firms,” Pedro Franceschi, CEO and co-founder of Brex, said in the post. “This upgraded experience will extend the power of our spend and accounting solutions at scale and enable partner firms to serve their clients more efficiently.”\n\nThe Brex financial operations platform includes a comprehensive range of tools that auto-syncs data to the client’s enterprise resource planning (ERP) system of choice; an interface called Brex ProAccess that helps accounting firms manage all their Brex clients in one place; and an integration ecosystem that includes thousands of ERP, human resources information system (HRIS) and other integrations, according to the post.\n\nOther key features for Brex accounting partners include multi-entity capabilities, multicurrency support, direct data access, premium integrations and artificial intelligence (AI)-powered accounting features, the post said.\n\nThe revamped partnership program also offers accounting firms custom onboarding offers for their clients, streamlined account management across all their Brex customers and a listing on Brex’s accounting directory, per the post.\n\n“Brex has already transformed financial operations for tens of thousands of businesses, offering a comprehensive suite of products for banking, corporate cards, spend management, bill pay and travel,” the post said. “Now, we’re reaffirming our commitment to the backbone of financial operational excellence: accounting firms.”\n\nThe launch of this revamped program comes about 10 months after Brex laid off about 20% of its workforce as part of a restructuring that Franceschi said aimed to make Brex “a high-velocity company.”\n\nFranceschi said when announcing the move in January that there is a “massive opportunity ahead” for the company’s spend management solutions but that the Brex organization grew too quickly and was not moving as quickly as it did in the past.\n\nOn Oct. 15, the company teamed up with Navan to launch a new joint offering for enterprises that streamlines travel payments into one workflow when using the Navan travel management platform.\n\nIn September, Brex launched an embedded payments solution designed to make it easy for B2B software vendors to accelerate customer workflows with Brex virtual cards."
},
{
"ai_summary": "Pangea, a startup connecting businesses with marketing and design talent, successfully saved $75K annually by switching to Brex for better banking services that eliminate fees and improve financial visibility, addressing previous challenges faced with JP Morgan Chase.",
"type": "Partnerships & Alliances",
"url": "https://brex.com/resources/customer/pangea",
"title": "Pangea uses Brex to make every dollar count and saves $75K a year.",
"company_name": "Brex",
"publisher": "Brex",
"published_date": "2024-10-18 00:00:00",
"source": "Wokelo",
"author": "",
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"scraped_text": "Company: Pangea brings top talent to businesses. Pangea.app is a marketplace for contract-to-hire marketing and design talent. Founded in 2016, the startup uses AI to connect companies with marketing and design talent in seconds. Pangea was part of the Y Combinator Class of 2021 and employs five people remotely. Challenges: Pangea was losing money to banking fees and ghost charges. Pangea began as a freelance college talent marketplace but pivoted to connect organizations with marketing and design professionals. That pivot yielded some early success, and Pangea co-founder Adam Alpert saw a path forward without having to raise money in a tough venture capital environment. Alpert shifted focus to lean profitability and zero-based accounting methodologies to make every dollar count. However, its banking partner wasn’t helping that strategy. According to Adam, JP Morgan Chase started charging $300 a month, and their lack of automatic allocation led to considerable overdraft fees and cash flow headaches. Adam had a pretty good idea of what he needed — and wasn’t getting — from his current bank: “I wanted to keep a certain amount in our checking account every week for payroll or expenses or whatever. Everything else should be either in a sweep account or a treasury. But our bank didn’t have that. I could only set up recurring fixed-amount transfers, but sometimes things would get out of whack and our accounts would get overdrawn. It was a nightmare.” Further hindering Pangea’s financial strategy was a lack of visibility into company spend. “Employees would put subscriptions on my company card, and if that person left, we’d keep getting charged,” he said. “We only got visibility into those ghost charges in QuickBooks at the end of the month.”"
},
{
"ai_summary": "Brex and Navan have launched BrexPay for Navan, an integrated solution that combines travel management and payments, offering significant advantages such as higher limits and automated processes for enterprises to streamline their travel expenses.",
"type": "Product Launches & Enhancements",
"url": "https://www.pymnts.com/travel-payments/2024/brex-and-navan-launch-integrated-business-travel-and-payments-solution/",
"title": "Brex and Navan Launch Integrated Business Travel and Payments Solution",
"company_name": "Brex",
"publisher": "PYMNTS.com",
"published_date": "2024-10-15 00:00:00",
"source": "Wokelo",
"author": "PYMNTS",
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"scraped_text": "Brex and Navan have launched a new joint offering for enterprises that streamlines travel payments into one workflow when using the Navan travel management system.\n\nThe new BrexPay for Navan provides an integrated business travel and payments solution by bringing together Navan’s travel services and Brex’s global corporate cards, the companies said in a Tuesday (Oct. 15) press release.\n\n“By combining Brex’s fast onboarding, global acceptance and homegrown financial stack with Navan’s end-to-end business travel offering into one solution, customers now have access to a payments and travel experience that is beyond any other corporate travel and payments solution,” Brex CEO Pedro Franceschi said in the release.\n\nWith BrexPay for Navan, customers can access up to 40x higher limits than legacy cards, local currency cards in more than 50 countries, and savings in foreign exchange fees and manual bank transfers, according to the release.\n\nThey can also scale their travel program, reduce costs, increase compliance and boost adoption, the release said.\n\nThe solution also saves enterprises time each month by enabling automated receipts, accounting and payment reconciliation, per the release.\n\n“With BrexPay for Navan, modern, global enterprises can scale their business, increase efficiencies and turn business travel into a strategic lever for growth,” Navan CEO and Co-founder Ariel Cohen said in the release.\n\nTech-driven expense management solutions can streamline processes, provide better control over budgetsand offer a healthier view of financials, Brex Chief Product Officer Karandeep Anand told PYMNTS in an interview posted in August 2023.\n\nLeveraging cards for transactions provides businesses with enhanced visibility and control over their expenses.\n\n“Once you go digital, there’s a lot of extra metadata that’s flowing between the systems so you’re no longer sitting and doing reconciliation and closing the books manually, because you already know what the invoice was, what the fees were, whether the payment was or was not settled, all of this is very quickly captured without human input,” Anand said. “And that’s important, because accounting teams just can’t keep scaling — you can’t keep having humans constantly in the process to pay out, track the payments, reconcile them, it very quickly becomes very error-prone.”\n\nFor all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter."
},
{
"ai_summary": "Brex has opened a new 6,000 square-foot office in Seattle and plans to double its workforce there from around 35 employees over the next year, alongside recent layoffs and executive changes.",
"type": "Geographic Expansion",
"url": "https://www.geekwire.com/2024/corporate-credit-card-company-brex-opens-seattle-office-with-plans-to-double-headcount/",
"title": "Corporate credit card company Brex opens Seattle office with plans to double headcount",
"company_name": "Brex",
"publisher": "GeekWire",
"published_date": "2024-10-02 00:00:00",
"source": "Wokelo",
"author": "Taylor Soper",
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"scraped_text": "(Brex Photo)\n\nBrex officially moved into its new Seattle office as the fintech company plans to double the size of its workforce in Seattle over the next year.\n\nThe San Francisco-based company has around 35 employees in Seattle.\n\nThe 6,000 square-foot office is located at the Metropolitan Park West Tower, just off Interstate-5 near downtown Seattle.\n\nBrex, which offers a corporate credit card and spending management software, was valued at more than $12 billion in 2022. It laid off 20% of its staff earlier this year and lost two key executives. The company has about 1,100 total employees.\n\nBrex President Karandeep Anand and CTO James Reggio both live in the Seattle region.\n\nBrex joins a number of other companies that operate satellite engineering offices in the Seattle area.\n\nEditor’s note: Story updated with new headcount data."
},
{
"ai_summary": "Brex has launched an embedded payments tool, Brex Embedded, allowing software vendors to integrate its payment capabilities, helping to expand its market reach beyond direct sales and tap into the $1.5 trillion B2B payment market.",
"type": "Product Launches & Enhancements",
"url": "https://www.paymentsdive.com/news/brex-launches-global-embedded-payments-solution/727444/",
"title": "Brex rolls out embedded payments tool",
"company_name": "Brex",
"publisher": "Payments Dive",
"published_date": "2024-09-19 00:00:00",
"source": "Wokelo",
"author": "Rajashree Chakravarty",
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"scraped_text": "First published on\n\nBrex, the expense management fintech, has launched an embedded payments tool to chase the potential the company sees with partnerships, expanding its reach beyond direct sales. “This fundamentally opens up a big way of going to market through these other partners versus only selling directly,” Karandeep Anand, Brex’s chief product officer and president, told Banking Dive. “It opens up a massive time and opportunity for us” to capture a larger slice of the $1.5 trillion business-to-business payment pie. Access now ➔ Trendline Inside the rise of digital wallets As more companies aim to offer digital wallets the rise in competition is sharpening their features. Access now ➔ Trendline Inside the rise of digital wallets As more companies aim to offer digital wallets the rise in competition is sharpening their features. The new Brex application programming interface-driven tool combines providers using various integrations, including Mastercard’s virtual card platform, which allows software vendors to integrate Brex’s corporate card and payments capabilities into their platform without taking on underwriting, onboarding, and credit risk, the company announced Wednesday. The tool, called Brex Embedded, enables software vendors to embed Brex virtual cards with higher limits, competitive rewards, local currency payments in some 50 countries, and quick customer onboarding, the company said. The fintech launched the tool broadly Wednesday, but it’s already in use by clients like Sabre, Coupa, DoorDash, Boomi, and ScaleAI. Sherri Haymond, co-president of global partnerships at Mastercard, noted how large enterprises have transformed businesses in the digital landscape and the need to offer innovative solutions. The new Brex tool “puts corporations in control with a simple, safe and easy way to manage connected payments experiences,” Haymond said in a statement Wednesday. The test programs the fintech ran with Coupa and Sabre materially shaped what the embedded tool needed to look like, according to Anand. Though the current solution is based on customer feedback, there’s an opportunity for the company to build out the tool, he added. Issuing credit cards using an API is the easy part, Anand said. “The hard part about building a fintech is, how do you do risk? How do you do credit modeling?” Anand said. “While we own credit card offering, we own expanding software, we also want to power hundreds and thousands of other businesses which want to embed payments into their product.” Access now ➔ Trendline Inside the rise of digital wallets As more companies aim to offer digital wallets the rise in competition is sharpening their features. Keep up with the story. Subscribe to the Payments Dive free daily newsletter Founded in 2017, Brex, the brainchild of immigrants, has built the corporate credit card for startups, he said. As startups like DoorDash grew, Brex created a software stack to orchestrate a growing company’s expense management, travel, accounts payable and procurement in addition to payment methods. A ‘hardened’ platform “When you’re touching somebody’s money, you are in a trust game,” Anand said. Having a global payments footprint has “hardened” the stack of payment solutions through the number of licenses, approvals, and checks the platform required, he noted. “We co-create and harden with early adopters,” Anand said. “So, by the time it goes on, it is compliance-hardened, regulatory-hardened, and enterprise-grade before it gets opened up.” As Brex readies to become a public company — the timing depends on market condition — investments in compliance and regulatory policies become more critical, he said. Three-way win Brex customers that used to be non-digital required weeks and months to get their workflow payments done, Anand said. A faster process improves user experience, he noted. And for software partners, offering the embedded tool can attract more customers and create increased revenue through payments processing share, Anand said. Meanwhile, those vendors avoid the costs of building in-house risk solutions for know-your-customer and fraud checks. “This is a unique offering in the sense it’s not even win-win, it’s a three-way, win-win-win across the customer, Brex and the partner,” Anand said."
},
{
"ai_summary": "Brex has launched Brex Embedded, an API-driven payments solution that allows B2B software vendors to easily integrate Brex virtual cards into their platforms and streamline global payments, backed by a partnership with Mastercard.",
"type": "Product Launches & Enhancements",
"url": "https://www.prnewswire.com/news-releases/brex-announces-brex-embedded-to-unlock-global-payments-everywhere-302251099.html",
"title": "Brex announces Brex Embedded to unlock global payments everywhere",
"company_name": "Brex",
"publisher": "PRNewswire",
"published_date": "2024-09-18 00:00:00",
"source": "Wokelo",
"author": "Brex",
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"scraped_text": "Backed by an expanded partnership with Mastercard, B2B software vendors can easily embed Brex virtual cards into financial workflows and generate new, risk-free revenue streams on a global scale SAN FRANCISCO, Sept. 18, 2024 /PRNewswire/ -- Brex, the corporate card and spend management platform for startups and enterprises, today announced Brex Embedded payments – a new API-driven payments solution that makes it easy for B2B software vendors to accelerate customer workflows with Brex virtual cards. By integrating with providers across categories like procurement, travel, and enterprise resource planning (ERP), Brex continues to expand its enterprise footprint, which already includes hundreds of customers like Atari, Sonos, and Five Guys. Global B2B payment volume has skyrocketed over the past decade and businesses around the world are increasingly embedding payments into their products to help streamline their customers' workflows to generate new revenue streams. But building financial services capabilities in-house is costly, time-consuming, and creates significant regulatory and financial risk. Brex Embedded leverages proprietary APIs and issuing integrations—including Mastercard's innovative virtual card platform —to enable any software vendor to seamlessly integrate Brex's global corporate card and payments capabilities directly into their platform, without the overhead of underwriting, onboarding, and credit risk. For Brex Embedded partners, their customers can make fast, secure global payments in virtually any currency, all while automating their existing financial workflows and payment reconciliation. \"Brex's vertically integrated corporate cards, payment processing, and global money movement infrastructure has been used by tens of thousands of companies to help them save and control spend for the past 7 years,\" said Pedro Franceschi, CEO at Brex. \"We're excited to democratize access to Brex's best-in-class payments technology with Brex Embedded payments and unlock global payments everywhere.\" \"In recent years, large enterprises have transformed the way they do business to meet the fast-paced nature of today's digital world,\" said Sherri Haymond, Co-President of Global Partnerships at Mastercard. \"At the forefront of that change is the digitization of B2B experiences and the need for innovative, global offerings to meet those expectations. We're thrilled to expand our partnership with Brex to launch Brex Embedded, which puts corporations in control with a simple, safe and easy way to manage connected payments experiences.\" Brex Embedded payments gives software vendors, such as Sabre and Coupa, a single point of integration that allows them to embed Brex virtual cards with up to 40x higher limits, industry-leading rewards, and local currency payments in 50+ countries–saving end customers time and money. With Brex, these software vendors can onboard global customers in days, instead of months, and ensure all spend conducted on their platforms is automatically reconciled for accounting. Hundreds of customers like DoorDash, Boomi, and ScaleAI are already processing nearly $1 billion in annualized payment volume using Brex Embedded payments while saving an average of 440 hours per year on manual GL coding and reconciliation and hundreds of thousands annually on FX fees. \"Sabre is excited to partner with Brex through Brex Embedded payments in Sabre Direct Pay,\" said Patricio Boccardo, Managing Director of Sabre Direct Pay. \"This partnership brings unparalleled value to our customers, offering a truly global solution with issuance in over 50 countries on a single platform. With faster onboarding, enhanced data and reconciliation capabilities, and improved payment acceptance, our customers now have access to the most comprehensive global payments solution.\" \"Brex Embedded payments is transformative for Coupa customers. We are excited to be leveraging these capabilities through our partnership,\" said Bill Wardwell, GM of Coupa Pay & Treasury. \"By integrating payments into the Coupa platform, organizations can automate their business spend-to-payments lifecycle in one place while gaining greater visibility and control over their total spend. Brex's robust credit process and balance sheet makes onboarding faster.\" To learn more, visit brex.com/embedded . Contact\n\nDanielle Bereznak, Director, External Communications\n\n[email protected] About Brex\n\nBrex offers the world's smartest corporate cards, treasury solutions, and intuitive software for travel and expenses — all on one AI-powered platform that transforms finance teams from no-sayers to growth drivers by making it easy to empower employees to spend with confidence. Tens of thousands of companies from startups to public enterprises, including Flexport, ScaleAI, DoorDash, and Compass, use Brex to proactively control spend, increase efficiency, and reduce costs on a global scale. SOURCE Brex WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+\n\nNewsrooms &\n\nInfluencers 9k+\n\nDigital Media\n\nOutlets 270k+\n\nJournalists\n\nOpted In GET STARTED"
},
{
"ai_summary": "Brex is enhancing its B2B services with new products and platform upgrades to retain clients and attract new ones, especially startups, amid a challenging economy and increased competition in the payment industry. The company is focusing on diversifying accounts and simplifying banking for businesses, particularly in the wake of the Silicon Valley Bank collapse.",
"type": "Product Launches & Enhancements",
"url": "https://www.americanbanker.com/payments/news/how-brex-is-fighting-to-keep-b2b-clients",
"title": "How Brex is fighting to keep B2B clients",
"company_name": "Brex",
"publisher": "American Banker",
"published_date": "2024-07-09 00:00:00",
"source": "Wokelo",
"author": "John Adams",
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"scraped_text": "Brex hosts its recent customer appreciation day. The firm has expanded services for business users. Brex In a challenging economy with higher prices and corporate downsizing, the competition among B2B payment companies is being defined by combining multiple products to keep clients from fleeing to other providers. Brex, for example, has added a series of products and platform upgrades to reach business users, with a focus on enabling startups to get up and running and retain existing customers, including those that came from the defunct Silicon Valley Bank. Brex, which has traditionally focused on business payments, is expanding following a downsizing in early 2024 that was partly due to the economic challenges facing the company's target market of technology-focused companies. \"We want clients to come with us as they grow and add resources,\" said Erica Dorfman, executive vice president of global financial products at Brex. \"To do that, they need to be on our platform.\" Brex's new features include checking, access to new business accounts through a partnership with Stripe and treasury accounts that include auto-transfers with no fees. \"This gives us more of a treasury management framework,\" Dorfman said of the strategy to enable myriad business functions that go well beyond sending and receiving payments. The Stripe partnership enables firms to apply for Brex business accounts immediately after incorporation, providing full access to banking while the Internal Revenue Service is still processing the client's Employer Identification Number filing. The EIN is required to access banking services, file for business licenses and perform other corporate tasks. Brex is reimbursing the cost of incorporation (about $500) through the Stripe partnership, and is offering a faster execution of the EIN, which can take several months. \"Having everything in one place makes it easier to operate a business, whether it's banking, bill pay, cards or expense management,\" Dorfman said. Other new Brex products include a \"vault\" account, where funds can be diversified across more than 20 partner banks with up to $6 million of Federal Deposit Insurance Corporation coverage — a move that follows the 2023 collapse of Silicon Valley Bank and the subsequent migration of numerous SVB clients to Brex . The collapse of SVB created fears of having funds stored in centralized accounts well over the FDIC-insured limit. On the day SVB closed, numerous companies were unsure if they could meet payrolls, which could have resulted in SVB's clients needing to lay off workers or close. The fallout from that short-lived crisis created a need to diversify business accounts. Payments BNY Mellon using open banking to cut friction from B2B payments \"Prior to the SVB collapse, many startups didn't prioritize bank deposit diversification nor did they fully understand the risks of having most of their deposits in an uninsured bank,\" Brex wrote in a July 1 2024 blog post . Brex faces multiple competitors that are also enhancing business-payment support. To provide a simpler, more comprehensive source of business services, many banks and payment companies have enhanced their B2B products to reach businesses that are shedding relationships to cut costs. Bank of America , for example, recently launched CashPro Insights, which is designed to provide a more detailed view of a company's financial positions, including incoming and outgoing payments, bills, supply-chain issues and security risks. BNY Mellon has expanded its B2B service by adding open banking, or the ability to access multiple products through a single account registration. And JPMorgan Chase is using distributed-ledger technology to support more flexible terms for business payments and banking. JPMorgan's distributed ledger supports the use of \"smart contracts,\" which execute payments when certain conditions are met, in effect supporting \"programmable money.\" \"There is a trend toward embedding multiple solutions under one umbrella,\" said Robin LoGiudice, a strategic advisor at Datos. \"For account payable automation you see a huge variety of providers. But these firms are not only selling AP as a standalone, but are moving toward selling a suite of payment or financial products.\" Cross-border payment processing has become a major point of competition among payment companies since businesses increasingly operate across borders. One reason is the rise of B2B2X business models — combining B2B transactions with multiple third parties that work with the business' clients, such as resellers — and online marketplaces, according to Meng Liu, a senior analyst at Forrester. For the companies in Brex's or the banks' position, the \"X\" refers to supporting connections between the business client and external partners. Several factors complicate these payments, Liu said, adding that payment infrastructures vary by country; regulations governing cross-border transactions are fragmented by geography; and firms are plagued by complex internal business processes and operations. \"Banks, card networks and fintechs are developing cross-border payment solutions for B2B to address these pain points,\" Liu said. \"Fintechs and banks are competing by using digital technologies and innovation to simplify money movement across borders.\" As a business account provider, Brex has harnessed digital technologies like artificial intelligence, virtual cards and virtual accounts to enhance cross-border payments, according to Liu. \"These innovations offer faster, more cost-effective and flexible processing,\" Liu said. \"Looking ahead, the competition will revolve around robust AI capabilities and the strength of business networks, such as supplier and buyer connections.\"\n\n"
},
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"ai_summary": "Brex has partnered with Stripe Atlas to provide startups with immediate banking access as soon as they incorporate, allowing them to apply for Brex business accounts even while awaiting their EIN, thereby streamlining financial management from the outset. New customers who incorporate through Stripe Atlas can also receive a reimbursement of the $500 incorporation fee.",
"type": "Partnerships & Alliances",
"url": "https://www.prnewswire.com/news-releases/brex-partners-with-stripe-atlas-to-deliver-faster-banking-access-for-startups-302174807.html",
"title": "Brex Partners with Stripe Atlas to Deliver Faster Banking Access for Startups",
"company_name": "Brex",
"publisher": "PRNewswire",
"published_date": "2024-06-18 00:00:00",
"source": "Wokelo",
"author": "Brex",
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"scraped_text": "Founders can now access banking services through Brex* as soon as they've incorporated with Stripe Atlas SAN FRANCISCO, June 18, 2024 /PRNewswire/ -- Brex, the leading all-in-one financial stack supporting 1 out of 3 startups in the U.S.**, today announced that companies incorporated with Stripe Atlas can apply for Brex business accounts immediately after incorporation, making it faster for a company to manage their finances and get their businesses off the ground. Continue Reading\n\nBrex Partners with Stripe Atlas to Deliver Faster Banking Access for Startups If a company incorporates with Stripe Atlas and qualifies for a Brex Business Account, for a limited time, Brex will reimburse 100% of the Stripe Atlas cost for Delaware C-Corp incorporation for new customers -- a $500 value.*** Companies that incorporate through Stripe Atlas will be able to apply for Brex business accounts while the IRS is still processing their EIN (Employer Identification Number) filing. An approved EIN is usually required to access many essential business operations and services, like opening bank accounts, obtaining business licenses, paying federal taxes, and hiring employees, and can also be required by vendors as proof of legitimacy. \"Founders need a banking partner who is immediately ready to support their vision while they jumpstart operations, and international founders, in particular, are at a disadvantage – non-US founders often have to wait 5+ weeks to receive an EIN from the IRS, delaying just about every aspect of their business,\" said Jason Mok, Head of Startups and Strategic Partnerships at Brex. \"It's critical for startups to proactively manage their finances, especially at the beginning. Brex makes it easier for founders to focus on the important work of getting their business off the ground fast.\" For founders looking to take advantage of this new capability, this is what they can expect: Founders use Stripe Atlas to incorporate their business as a Delaware C-Corp incorporation. Using Stripe Atlas to generate and file incorporation documents takes as little as 10 minutes, and all Stripe Atlas users get priority processing with Delaware so they're incorporated in 1 business day.\n\nso they're incorporated in 1 business day. Next, founders can be routed to sign up for a Brex business account directly from Stripe Atlas.\n\nIf they qualify and are approved, companies can begin using their Brex business account right away, even as they await their EIN from the IRS.\n\nFollowing successful Brex business account opening, Brex will reimburse in full the Stripe Atlas fee for Delaware C-Corp incorporation, a value of $500. This past March marked one year since SVB entered receivership, serving as a reminder of how Brex has been on the front lines of supporting startups and enterprises alike in becoming more intentional and strategic about managing their finances. Between March 9 and March 16 2023, Brex took in 4,000 customers and $2 billion in deposits, and within 48 hours Brex established a $1B emergency bridge loan to help impacted companies make payroll. More than 90% of the customers that signed up during that week are still active Brex customers, and more than 1/3 of customers now use Brex business accounts. This comes as the latest of Brex's commitment to helping the fastest-growing startups get the most out of every moment of their journey from day one. In addition to business accounts , Brex offers a full financial stack for early-stage companies: Unlock operating capital with higher credit limits — without a personal guarantee — and easily issue corporate cards + reimbursements\n\nwith higher credit limits — without a personal guarantee — and easily issue corporate cards + reimbursements Pay vendors faster with automated bill pay and simplify all of your onboarding and payment processes.\n\nwith automated bill pay and simplify all of your onboarding and payment processes. Extend runway with over $400K in discounts, founder-friendly rewards, exclusive invites to events with VCs in our network, and more. To learn more about this new capability and how Brex supports founders throughout their journey, visit: https://www.brex.com/journal/brex-partners-with-stripe-atlas Get started here with Brex and Stripe Atlas today to fast-track your time to market *Brex is a financial technology company, not a bank. Checking accounts and banking services provided by Column N.A., Member FDIC. Treasury and Vault accounts are provided by Brex Treasury LLC, Member FINRA/SIPC. ** Market share of customers activated on Brex out of all US-headquartered startups with <50 employees and have raised a professionally invested round in the last 8 quarters. *** Terms and conditions apply, and are subject to change. Offer not available for existing Brex Business Account customers. New customers must complete the Stripe Atlas process for a Delaware C-Corp and apply for and qualify for a Brex Business Account to take advantage of this promotion. Qualifying for a Brex Business Account is not guaranteed - learn more about eligibility criteria in the Brex Business Account Customer Agreement. $500 will be provided in the form of reward points, which are eligible for cash back, one month after opening a Brex Business Account. If we determine that you have engaged in abuse or misuse in connection with this promotion, we may cancel the rewards points or terminate your Brex account. We may modify or revoke this offer at any time. About Brex\n\nBrex is the AI-powered spend platform. We transform finance teams from reactive no-sayers to proactive growth drivers. With Brex, companies spend with confidence by empowering employees to make smarter financial decisions from anywhere. Brex provides corporate cards, banking, treasury, and global payments, plus intuitive software for travel and expenses, that make it easy to plan and track all company spend in one place, in real time. Tens of thousands of companies from startups to global enterprises — including DoorDash, Flexport, and Compass — use Brex to proactively control spend, reduce costs, and increase efficiency on a global scale. Media Contact: press@brex.com SOURCE Brex"
},
{
"ai_summary": "Brex has announced that companies incorporating through Stripe Atlas can immediately apply for Brex business accounts, streamlining financial management for startups. Additionally, Brex will reimburse the incorporation fee for new customers, enhancing support for founders in launching their businesses.",
"type": "Partnerships & Alliances",
"url": "https://www.finextra.com/pressarticle/101212/brex-to-offer-business-accounts-to-stripe-atlas-customers",
"title": "Brex to offer business accounts to Stripe Atlas customers",
"company_name": "Brex",
"publisher": "Finextra",
"published_date": "2024-06-18 00:00:00",
"source": "Wokelo",
"author": "Finextra",
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"scraped_text": "Home Announcements Startups Brex to offer business accounts to Stripe Atlas customers External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Brex to offer business accounts to Stripe Atlas customers Brex, the leading all-in-one financial stack supporting 1 out of 3 startups in the U.S., today announced that companies incorporated with Stripe Atlas can apply for Brex business accounts immediately after incorporation, making it faster for a company to manage their finances and get their businesses off the ground. 0 External This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. After a company incorporates with Stripe Atlas, for a limited time, Brex will reimburse 100% of the Stripe Atlas cost for Delaware C-Corp incorporation for new customers — a $500 value. Any time a company incorporates through Stripe Atlas, they will be able to apply for and immediately start using Brex business accounts while the IRS is still processing their EIN (Employer Identification Number) filing. An approved EIN is required to access many essential business operations and services, like opening bank accounts, obtaining business licenses, paying federal taxes, and hiring employees, and can also be required by vendors as proof of legitimacy.\n\n\n\n“Founders need a banking partner who is immediately ready to support their vision while they jumpstart operations, and international founders, in particular, are at a disadvantage - non-US founders often have to wait 5+ weeks to receive an EIN from the IRS, delaying just about every aspect of their business,” said Jason Mok, Head of Startups and Strategic Partnerships at Brex. “It’s critical for startups to proactively manage their finances, especially at the beginning. Brex makes it easier for founders to focus on the important work of getting their business off the ground fast.”\n\n\n\nFor founders looking to take advantage of this new capability, this is what they can expect:\n\n\n\nFounders use Stripe Atlas to incorporate their business. Using Stripe Atlas to generate and file incorporation documents takes as little as 10 minutes, and all Stripe Atlas users get priority processing with Delaware so they’re incorporated in 1 business day.\n\nNext, founders can sign up for a Brex business account directly from Stripe Atlas.\n\nAfter a business successfully registers for a Brex account, Brex will reimburse in full the Stripe Atlas fee for Delaware C-Corp incorporation, a value of $500.\n\nCompanies can gain approval and then begin using their Brex business account right away, even as they await their EIN from the IRS.\n\n\n\nThis past March marked one year since SVB entered receivership, serving as a reminder of how Brex has been on the front lines of supporting startups and enterprises alike in becoming more intentional and strategic about managing their finances. Between March 9 and March 16 2023, Brex took in 4,000 customers and $2 billion in deposits, and within 48 hours Brex established a $1B emergency bridge loan to help impacted companies make payroll. More than 90% of the customers that signed up during that week are still active Brex customers, and more than 1/3 of customers now use Brex business accounts.\n\n\n\nThis comes as the latest of Brex’s commitment to helping the fastest-growing startups get the most out of every moment of their journey from day one. In addition to business accounts, Brex offers a full financial stack for early-stage companies:\n\n\n\nUnlock operating capital with higher credit limits — without a personal guarantee — and easily issue corporate cards + reimbursements\n\nPay vendors faster with automated bill pay and simplify all of your onboarding and payment processes.\n\nExtend runway with over $400K in discounts, founder-friendly rewards, exclusive invites to events with VCs in our network, and more. Share Related Company Stripe Brex Channels /retail banking /wholesale banking /start ups"
},
{
"ai_summary": "Brex has launched new digital banking products aimed at startups, enhancing their business accounts with features like increased saving flexibility, higher yields, and a partnership with Column N.A. allowing for fee-free transactions and improved security.",
"type": "Product Launches & Enhancements",
"url": "https://www.prnewswire.com/news-releases/brex-launches-new-digital-banking-products-for-startups-302174812.html",
"title": "Brex Launches New Digital Banking* Products for Startups",
"company_name": "Brex",
"publisher": "Prnewswire",
"published_date": "2024-06-18 00:00:00",
"source": "Google",
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"scraped_text": "New Checking and updates to Treasury and Vault accounts offer increased saving flexibility and higher yield\n\nNew partnership with Column N.A., Member FDIC enables businesses to quickly and easily open new accounts, and avoid transaction fees SAN FRANCISCO, June 18, 2024 /PRNewswire/ -- Brex, the leading all-in-one financial stack supporting 1 out of 3 startups in the U.S.**, today launched new digital banking products and a number of updates to its flagship business account, giving founders access to capital where and when they need it. This launch makes Brex the only spend management platform to marry corporate cards, expense management, bill pay, travel booking, treasury, and banking into one vertically integrated offering. Continue Reading\n\nBrex Launches New Digital Banking* Products for Startups \"Henrique and I started Brex after moving from Brazil to the Bay Area and seeing firsthand the uphill financial battle founders face. Traditional banking is too slow, and even 'founder-friendly' neobanks still charge hidden fees and lack global support,\" said Pedro Franchesci, Co-Founder and CEO of Brex. \"Access to banking and cash is one of the most critical factors for startup success, and we're proud to be expanding our Banking capabilities to support founders from inception to IPO.\" Brex business accounts now benefit from new advanced security features including comprehensive fraud protection, authentication tools and built-in payment approval flows, all accessible directly from the Brex mobile app with 24/7 support via the app, by phone, or through WhatsApp. Customers can now access three distinct accounts within business accounts to: Confidently open accounts and transfer funds around the world with the new Checking account powered by Column N.A., with no transaction fees on ACH transfers, checks, and domestic wires – plus international wires in over 40 currencies. Opening a Checking account is easy and can be done entirely online.\n\npowered by Column N.A., with no transaction fees on ACH transfers, checks, and domestic wires – plus international wires in over 40 currencies. Opening a Checking account is easy and can be done entirely online. Expand spending power with an updated and fully-integrated Treasury account , making it simpler to oversee and manage funds and earn yield from day one with auto-transfer capabilities and no fees, minimum balance requirements, liquidity restrictions, or waiting periods.\n\n, making it simpler to oversee and manage funds and earn yield from day one with auto-transfer capabilities and no fees, minimum balance requirements, liquidity restrictions, or waiting periods. Safeguard capital with the updated Vault account, where funds are diversified across more than 20 program banks with up to $6M of total FDIC insurance (20x the national average). \"Banking is highly complicated and heavily regulated, but Column built a new type of bank from the ground up and redefined what a bank could be,\" said Brex Head of Startups Jason Mok. \"We partnered with Column because their unique approach to banking provides the speed, flexible account model, and API-first approach that no one else can. These aspects are essential to building banking products that power our customersʼ growth. Brex's original business accounts launched in 2019, enabling founders to open operating accounts and manage finances from anywhere without ever stepping foot in a bank. And when SVB collapsed in early 2023, Brex and the Brex business account were on the front lines helping founders in new ways . Between March 9 and March 16 2023, Brex took in 4,000 customers and $2 billion in deposits, and within 48 hours Brex established a $1B emergency bridge loan to help impacted companies make payroll. More than 90% of the customers that signed up during the week of the SVB collapse are still active Brex customers, and more than 1/3 of customers now use Brex business accounts. This comes as the latest of Brex's commitment to helping the fastest-growing startups get the most out of every moment of their journey from day one. In addition to business accounts, Brex offers a full financial stack for early-stage companies: Get their business off the ground faster by accessing Brex business accounts immediately upon incorporation with Stripe Atlas.\n\nby accessing Brex business accounts immediately upon incorporation with Stripe Atlas. Unlock operating capital with higher credit limits — without a personal guarantee — and easily issue corporate cards + reimbursements.\n\nwith higher credit limits — without a personal guarantee — and easily issue + reimbursements. Pay vendors faster with automated bill pay and simplify all of your onboarding and payment processes.\n\nwith and simplify all of your onboarding and payment processes. Extend their runway with over $400K in discounts, founder-friendly rewards , exclusive invites to events with VCs in our network, and more. To learn more about this new capability and how Brex is giving founder a competitive edge through Banking, visit: https://www.brex.com/journal/brex-startups-modern-banking *Brex is a financial technology company, not a bank. Checking accounts and banking services provided by Column N.A., Member FDIC. Treasury and Vault are offered by Brex Treasury LLC, Member FINRA and SIPC. Vault accounts allow customers to sweep cash into program banks. Brex Treasury is not a bank nor an investment adviser. Yield is variable.\n\n** Market share of customers activated on Brex out of all US-headquartered startups with <50 employees and have raised a professionally invested round in the last 8 quarters. About Brex\n\nBrex is the AI-powered spend platform. We transform finance teams from reactive no-sayers to proactive growth drivers. With Brex, companies spend with confidence by empowering employees to make smarter financial decisions from anywhere. Brex provides corporate cards, business accounts, and global payments, plus intuitive software for travel and expenses, that make it easy to plan and track all company spend in one place, in real time. Tens of thousands of companies from startups to global enterprises — including DoorDash, Flexport, and Compass — use Brex to proactively control spend, reduce costs, and increase efficiency on a global scale. About Column\n\nColumn N.A., Member FDIC, (\"Column\") is a nationally chartered bank that provides regulated and developer-first financial infrastructure for technology forward organizations, enabling them to build innovative financial products for their consumer and business customers. Column is both a bank and a software company - built from the ground up - powering the world's leading companies. Learn more at column.com. Media Contact: press@brex.com SOURCE Brex WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+\n\nNewsrooms &\n\nInfluencers 9k+\n\nDigital Media\n\nOutlets 270k+\n\nJournalists\n\nOpted In GET STARTED"
},
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"ai_summary": "Fintech startup Brex announces a leadership change, with co-founder Pedro Franceschi becoming the sole CEO as the company aims for an IPO, while its co-founder Henrique Dubugras transitions to chairman. Additionally, Toronto-based Float launches new products for managing corporate finances.",
"type": "Executive Commentary & Interviews",
"url": "https://betakit.com/ft-the-fintech-times-brex-drops-a-ceo-and-looks-to-ipo/",
"title": "F|T: The FinTech Times – Brex drops a CEO and looks to IPO",
"company_name": "Brex",
"publisher": "BetaKit",
"published_date": "2024-06-17 00:00:00",
"source": "Wokelo",
"author": "Alex Riehl",
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"scraped_text": "Plus: An exclusive interview on the new Float product launches.\n\nWelcome to the FinTech Times, covering the biggest FinTech news from around the globe.\n\nSince fintech startup Brex’s inception in 2017, its two co-founders Henrique Dubugras and Pedro Franceschi have run the company as co-CEOs.\n\nBut starting today, the pair told TechCrunch in an exclusive interview, the San Francisco-based corporate credit card and expense management company is shifting to a more traditional — and what they say should be a more agile — model of just one CEO at the helm. Franceschi will become the sole CEO while Dubugras will become chairman of Brex’s board.\n\nIn an in-depth conversation, the two co-founders gave [TechCrunch] a peek into what the new structure will look like, the company’s current state of finances and how it has managed to reduce its cash burn.\n\n(TechCrunch)\n\nToronto-based corporate card and expense management technology startup Float has begun rolling out a pair of new offerings: bill pay and reimbursements.\n\nThis is part of the business finance platform’s plan to help customers manage their spending “all in one place,” from corporate card expenses to personal reimbursements, and bill pay, Float co-founder and CEO Rob Khazzam told BetaKit in an exclusive interview.\n\n(BetaKit)\n\nThe financial technology industry is embracing a new normal — with some industry executives and investors believing the sector has reached a “bottom.”\n\nExecutives and investors at the Money20/20 event in Amsterdam last week told CNBC that valuations have corrected from unsustainable highs from the industry’s heyday in 2020 and 2021.\n\nLong gone are the days when venture capital was flowing into startups with bold ideas and little to show in terms of business metrics and fundamentals.\n\n(CNBC)\n\nCalgary-based FinTech startup CreditApp has closed $2.7 million CAD in financing led by Inovia Capital to commercialize its software for automotive dealerships and lenders.\n\nCreditApp is led by FinTech veteran Marcos Lopez, who took the reins of CreditApp as CEO in January to help scale the startup’s business. Lopez is the former CEO of Calgary FinTech unicorn Solium Capital, which developed software for managing employee stock options and cap tables and was acquired by Morgan Stanley in 2019 for $1.1 billion.\n\n(BetaKit)\n\nAnt Group Co. spent a record 21.2 billion yuan ($2.9 billion) on research last year as the fintech giant increased its investment in technology including artificial intelligence.\n\nThe affiliate of Alibaba Group Holding Ltd. has been boosting its research and development investment over the past three years, according to its 2023 sustainability report released Thursday.\n\nThe fintech pioneer has been expanding its overseas operations to overcome slowing growth at home. It’s tied up with more than 30 e-wallet platforms and banking apps for cross-border payments in regions including Southeast Asia and Europe.\n\n(BNN Bloomberg)\n\nEarlier this week, BetaKit learned Vancouver has an agreement with Collision parent company Web Summit to bring a rebranded version of the major North American technology conference to the West Coast in 2025.\n\nFor those ready to make the most of the last ever Collision conference in Toronto, kicking off on June 17, BetaKit will remain your go-to source for breaking news and conference insights.\n\nIn the meantime, we’ve created The BetaKit Guide: Collision Week 2024, presented by Interac.\n\nThe BetaKit Guide outlines the most anticipated speakers, recommendations for side parties and local hot spots, as well as tips for getting around, all provided by you, our readers.\n\n(BetaKit)\n\nThe House of Commons passed a motion Tuesday that will bring forth legislation on proposed changes to capital gains tax measures, with 208 MPs voting in favour of and 118 voting against the motion.\n\nDeputy Prime Minister Chrystia Freeland introduced the ways and means motion to Parliament on Monday, a 59-page document outlining draft legislation to increase the capital gains tax inclusion rate from 50 percent to 66 percent beginning June 25.\n\n(BetaKit)\n\nTerraform Labs reached a $4.47 billion civil settlement with the U.S. Securities and Exchange Commission, after being found liable by a jury for defrauding cryptocurrency investors who lost an estimated $40 billion when the TerraUSD and Luna tokens collapsed in 2022.\n\nMuch is unlikely to be paid because Terraform filed for bankruptcy in January. It will instead be treated as an unsecured claim in the Chapter 11 case, where Terraform is liquidating. The SEC accused Terraform and Kwon of deceiving investors about the stability of TerraUSD, which he designed to maintain a constant $1 price, and falsely claiming that Terraform’s blockchain was used in a popular Korean mobile payment app.\n\n(Reuters)\n\nIt’s fitting that Michelle McBane’s first foray into venture capital was a bet that paid off.\n\nHer journey in the space began as a short term assignment, when she was seconded by her employer to Primaxis Technology Ventures, one of its early-stage investments.\n\n“As far as the idea that you put $1 in here and you’re going to get $2 back out, these companies aren’t at that point at all, and I like that early-stage gray area,” she said.\n\n(BetaKit)\n\nA London High Court judge has brought to an end a feud between JPMorgan and the founder of a Greek fintech that the bank part-owns, opening up the possibility of a sale of the business.\n\nThe Wall Street bank and Haris Karonis had filed legal claims against each other in February over their shared ownership of Viva Wallet, a popular payments platform used by businesses in Southern Europe.\n\nIn a statement, JPMorgan said: “The court has now provided a critical step to move forward with fair and transparent valuations — which could allow Viva to be sold soon, before the fintech M&A market further softens.”\n\n(Financial Times)\n\nThe pitch to the recruiter was compelling.\n\nNo, the candidate didn’t have five years of experience, which had been listed as a prerequisite for the position. They did, however, boast comparable skills and relative experience within their four years of work history.\n\nAnd they were actively looking for a role, unlike many of the others who would appear to be qualified candidates.\n\nIn short, this was not someone who should be overlooked. At least, according to AI.\n\n(BetaKit)\n\nF|T: The FinTech Times is powered by Mantle.\n\nStill using spreadsheets to manage your cap table?\n\nLevel up with Mantle the Canadian-made, AI-powered equity management platform. Mantle helps you manage everything from equity issuance to planning and projections, lightening your workload.\n\nBook a demo and enjoy your first year free at withmantle.com/betakit to get started."
},
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"ai_summary": "Brex is transitioning to a single-CEO model, with co-founder Pedro Franceschi taking over as CEO while Henrique Dubugras becomes the board chair, aiming for more efficient decision-making and to support the company's goal of an IPO in 2025.",
"type": "Executive Commentary & Interviews",
"url": "https://www.paymentsdive.com/news/brex-ceo-chair-dubugras-franceschi-ipo-credit-card/718886/",
"title": "Brex moves to single-CEO model",
"company_name": "Brex",
"publisher": "Payments Dive",
"published_date": "2024-06-14 00:00:00",
"source": "Wokelo",
"author": "Dan Ennis",
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"scraped_text": "First published on\n\nCorporate credit card services company Brex is moving to a single-CEO model, with co-founder Pedro Franceschi serving in that role and fellow co-founder Henrique Dubugras becoming board chair, Dubugras said Wednesday in a post on the company’s website. Dubugras, who has served as co-CEO alongside Franceschi since Brex launched in 2017, said sharing leadership duties worked well when the company was smaller but became more difficult as the fintech grew. “I think we’re at a scale where we’re starting to see some of the cracks in the co-CEO model,” Dubugras told TechCrunch on Wednesday. “After talking, we thought this would help the business succeed. We thought this would enable much faster and better decision-making.” Dubugras cited the company’s goal of launching an initial public offering in 2025 as a factor in the decision, saying “the business requires us to evolve our model.” Dubugras said he will keep many of his external responsibilities and remains “as committed as ever” to Brex’s mission. “I’ll still be involved to the extent that the team wants and needs me involved,” he told TechCrunch. “Brex remains my main and only thing.” Meanwhile, Franceschi will “keep running the business the same way he has been over the last 6 years, just with more agility,” Dubugras wrote in his post. The looming IPO has served as a catalyst for a number of Brex’s recent decisions, including its move in January to cut 20% of its workforce. “The changes today are driven by a desire to make Brex more agile and accelerate our path to profitability, building on the growth we had in 2023,” a spokesperson for Brex told TechCrunch at the time. “We grew our revenue 35%+ in 2023 while gross profit increased by 75%. This reduction in force puts us on a clear path towards profitability.” Franceschi on Wednesday told the outlet that Brex has cut its cash burn in half over the past year and has seen increased revenue growth “without increasing fixed costs.” January’s layoffs “contributed to a lot of the savings,” Franceschi said, adding that he doesn’t anticipate further headcount reductions. “The biggest benefit after the layoff was not just the cost savings,” he said. “It was the way in which the company operates.” Franceschi said he expects Brex will be cash-flow positive next year. “So, if that happens in 2025, [an IPO] will be soon after. But we need to get there first,” he told TechCrunch. Wednesday’s “role definition” — as Dubugras calls the CEO split in his post — is far from the only movement Brex has seen in its C-suite over the past year. The company named Meta veteran Karandeep Anand, originally hired as Brex’s chief product officer, as its first president in November. Concurrent with the January layoffs, Brex promoted Camilla Morais to chief operating officer to replace Michael Tannenbaum, who was later named CEO of Figure. Additionally, Brex’s chief technology officer, Cosmin Nicolaescu, is set to move to an advisory position with the company this summer. In his post Wednesday, Dubugras said the “upside” to the long-running co-CEO setup with Franceschi was “that we had twice as much time as other CEOs.” But the most lasting takeaway, he said, is the friendship between the two. “We were fortunate enough to find each other at a very young age, and grow together — professionally and personally — over the past decade,” Dubugras wrote. “We built a company together,” he said, referring to their first entrepreneurial effort, Pagar.me in Brazil in 2012. Keep up with the story. Subscribe to the Payments Dive free daily newsletter “[We] moved to the US together for college, built another company together, lived together, built a friend group together, and Pedro even officiated my wedding last year,” Dubugras said. “This transition is just another iteration of what we started 12 years ago, and I hope it continues for the next 12 years to come. I couldn’t have asked for a better friend and partner with whom to build Brex, and to share the most important moments of our lives together.”"
},
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"ai_summary": "Brex CFO Ben Gammell emphasizes the importance of demonstrating profitability and strategic investment for companies considering an IPO, reflecting optimism in the market as recent IPOs show improved performance despite ongoing economic challenges. Although Brex is contemplating a future IPO, it currently prioritizes sustainable growth without immediate plans to go public.",
"type": "Executive Commentary & Interviews",
"url": "https://www.paymentsdive.com/news/brex-cfo-keeps-eye-costs-roi-ipo-spend/716357/",
"title": "Brex CFO mulls long-term IPO scenario",
"company_name": "Brex",
"publisher": "Payments Dive",
"published_date": "2024-05-17 00:00:00",
"source": "Wokelo",
"author": "Grace Noto",
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"scraped_text": "Light is beginning to emerge in the initial public offering space, causing companies to take a second look at potential plans to go public.\n\nFor companies seeking to complete an IPO within the next year or so, it’s crucial for them to be able to show that they can offer a return on investment, said Ben Gammell, chief financial officer at the corporate credit card services company Brex.\n\nThe San Francisco, California-based company also offers an AI-powered spend management platform that can help businesses on the path forward to going public through tools such as forecasting, according to a blog post on its website.\n\nFor a business looking to take that step, “having a strong ability to set intentionality about where the company is investing and why, and how that’s going to drive future profitability and or free cash flow” is imperative, Gammell said in an interview.\n\nA six-year alum of the company, Gammell took the CFO seat last October, after previously serving as senior vice president of finance and accounting. His also previously served as chief of staff to the CEO, according to his LinkedIn profile.\n\nProfitability stays top of mind\n\nRising interest rates, uncertainty surrounding the possibility of a coming recession and other economic headwinds have largely flattened the IPO market over the past couple of years, beginning during the onset of the COVID-19 pandemic.\n\nEnthusiasm surrounding the potential impact of emerging technologies, such as artificial intelligence, and more confidence that the Federal Reserve might achieve a soft landing have driven up optimism about IPOs in recent months. U.S. IPOs raised $8.4 billion in the first quarter of this year — more than triple the value seen in Q1 2023, according to an April study by accounting firm Ernst & Young. Share prices of companies going public also increased by 38% above the opening price on average, indicating rising confidence, CFO Dive reported.\n\nMany CFOs are paying close attention to how recent IPOs perform following their debut. Gammell, for example, is closely watching the aftermath of the Rubrik IPO, a data security software company which went public at the top of the month following in the footsteps of Astera Labs and social media site Reddit.\n\nKeep up with the story. Subscribe to the Payments Dive free daily newsletter\n\nUnlike the latter two companies, Rubrik was not profitable before their IPO — reporting a net loss of $354.2 million for its last fiscal year, CNBC reported. “So, I think from that dynamic, it’s a little bit more of an indicator of, how does the market feel about let’s call it the tech companies of yesteryear, where they were high growth, not yet profitable companies, and what is investor sentiment around that?” Gammell said.\n\nWhile Rubrik could prove to be a critical case study for how investors may treat upcoming technology IPOs, the prevailing attitude is still to achieve that milestone of profitability at the time of an IPO for companies seeking to go public, Gammell said, citing feedback from Brex’s customer base.\n\n“I think a big sort of area of pre-IPO company focus is, building the muscle around…the key drivers of the business so you can concisely explain them to investors, and also just make sure you, yourself, really understand your business so that you can very accurately forecast,” he said.\n\nBalancing growth, cost on path to public\n\nDemonstrating a clear growth path is a key focus for Gammell, as Brex looks to balance future expansion with its need to pull the brakes on its cash burn.\n\nThe company burned $17 million per month during the fourth quarter of last year, according to tech trade publication The Information. In January, the company cut 20% of its staff and announced a senior leadership shakeup among other efforts to curb its spending.\n\n“I would say one of the big focal points for me is just to make sure that we’re sustainably growing, fundamentally, and that we are putting the right level of investment into the business” across key spaces such as research and development, sales and marketing, he said, keeping the lens on ensuring the company is on a path to profitability.\n\nValued at $12.3 billion, speculation about a future IPO by Brex itself — alongside competitors including Ramp — rose last year after the company took swift action following the collapse of Silicon Valley Bank, signing up more than 4,000 customers in 36 hours and raking in more than $2 billion in deposits, according to a report by CNBC. The company extended lines of credit to incoming customers following the bank’s collapse through offerings such as its business credit card.\n\nHowever, the company may have grown its organization too quickly, executives said following reports of its cash burn. Brex currently has about $1.4 billion in funding, according to CNBC.\n\nWhile going public is “definitely something” Brex is considering at some point in its future, it has no immediate plans to do so, Gammell said. For now, the company has “more than enough capital,” and is comfortable being a private company for several more years, he said."
},
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"ai_summary": "Brex has been ranked #4 on the 2024 CNBC Disruptor 50 list, marking its fourth consecutive year on the list, as it continues to innovate in AI-powered spend management, aiding thousands of customers and enhancing financial performance.",
"type": "",
"url": "https://www.prnewswire.com/news-releases/brex-named-4-on-the-2024-cnbc-disruptor-50-302144827.html",
"title": "Brex Named #4 on the 2024 CNBC Disruptor 50",
"company_name": "Brex",
"publisher": "PRNewswire",
"published_date": "2024-05-14 00:00:00",
"source": "Wokelo",
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"scraped_text": "Leading AI-powered spend platform joins list for fourth consecutive year SAN FRANCISCO, May 14, 2024 /PRNewswire/ -- Brex, the AI-powered spend platform for modern companies, today announced it has earned the No. 4 ranking on the 2024 CNBC Disruptor 50 list . The annual CNBC Disruptor 50 list highlights private companies using breakthrough technology to meet increasing economic and consumer challenges. In the past year, Brex's spend management solutions have maximized the financial performance of its tens of thousands of customers, including over 100 public companies and one-third of startups in the U.S.* \"From our roots as a corporate card for startups, we've grown Brex to become a global leader in spend management by redefining the way companies manage their finances – saving customers around the world hundreds of millions of dollars and millions of hours annually on spend management,\" said Pedro Franceschi, Co-Founder and Co-CEO of Brex. \"We're honored to be recognized by the CNBC Disruptor 50 for the fourth consecutive year, a testament to the work of our team to revolutionize financial management for global enterprises and startups alike.\" The past year marked several significant milestones for Brex. In 2023, the company expanded its platform for customers of all sizes by launching an integrated global travel solution , an AI-powered employee expense assistant , and an accounts payables solution . Brex simultaneously expanded its customer base, now ranging from high-growth startups to enterprises like DoorDash, Indeed, Coinbase, and major sports enterprises like the Boston Celtics. Amid the Silicon Valley Bank (SVB) collapse in 2023, Brex established itself on the frontlines to support the thousands of affected companies, taking in 4,000 customers and $2 billion in deposits, and establishing a $1 billion emergency fund within 48 hours to help impacted customers make payroll. More than 90% of the customers that signed up during the week of the SVB collapse are still active Brex customers with over one third using Brex Business Accounts. To learn more about Brex, visit Brex.com . * Market share of customers activated on Brex out of all US-headquartered startups with <50 employees and have raised a professionally invested round in the last 8 quarters. About Brex\n\nBrex is the AI-powered spend platform. We transform finance teams from reactive no-sayers to proactive growth drivers. With Brex, companies spend with confidence by empowering employees to make smarter financial decisions from anywhere. Brex provides corporate cards, business accounts, and global payments, plus intuitive software for travel and expenses, that make it easy to plan and track all company spend in one place, in real time. Tens of thousands of companies from startups to global enterprises — including DoorDash, Flexport, and Compass — use Brex to proactively control spend, reduce costs, and increase efficiency on a global scale. Media Contact:\n\npress@brex.com SOURCE Brex"
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