SYS-CON MEDIA Authors: Yeshim Deniz, Elizabeth White, Zakia Bouachraoui, Liz McMillan, Janakiram MSV

News Feed Item

Brex Launches the First Corporate Card for Startups

Fintech startup Brex today unveiled a first-of-its-kind corporate card specifically designed to help startups qualify based on funding rather than credit history. The company also announced it has closed a Series B round of financing with participation from luminaries in the fintech and technology industries bringing total funding to $57 million. Investors include Y Combinator Continuity, PayPal founders Peter Thiel and Max Levchin, Facebook investor Yuri Milner, financial services VC Ribbit Capital and former Visa CEO Carl Pascarella.

Brex spent the last year working with customers to perfect a product experience using technology to navigate the financial and regulatory hurdles that typically prevent early stage companies from credit card services. With Brex, growing companies can get instant approval on cards that offer high limits and don’t require any kind of personal guarantee. Brex has over 1,000 customers and is now open to startups nationally with a two-minute application at Brex.com.

“Startups that have raised millions and are poised for hyper-growth can’t get slowed down hassling with banks requiring personal guarantees and offering meager credit limits,” said Henrique Dubugras, co-founder and CEO of Brex. “Traditional credit models look at how much a company can pay back in a year based on profits, often disqualifying startups. We rebuilt the financial services tech stack from the ground up and created a new kind of card to specifically meet the needs of startups.”

Highlights of the new card from Brex include:

  • Seamless Online Signup: Easy application without personal guarantee requirements and higher limits to reflect the needs of growing companies.
  • Integrated Expense Management Software: Saving receipts has never been easier – just text or email Brex a picture of a receipt and it is automatically matched to the transaction in the customer’s online dashboard.

“Brex is redefining the corporate card experience for startups of all stages. This has been a longstanding pain point for many of our founders. We are thrilled to have led the Series B round in Brex,” said Anu Hariharan, Partner, Y Combinator Continuity.

“As a startup founder, you have so many things going on, and the last thing you want to worry about is finding a quick and easy payments solution for company expenses, let alone personally guaranteeing a card or trying to find an expense management system that works. Brex solves that,” added Dalton Caldwell, Partner, Y Combinator.

With this funding, Brex also adds board members Anu Hariharan, Partner, Y Combinator Continuity, and Meyer Malka, Managing Partner, Ribbit Capital.

Get the new Brex card today at Brex.com.

About Brex

For startups, Brex delivers corporate cards quickly, easily, and with far higher limits than anyone else. Unlike traditional corporate cards, only Brex offers startups cards instantly and with no personal guarantee. Founded in 2017 by the founders of Brazilian payments processor Pagar.me, Brex is backed by Y Combinator Continuity, Ribbit Capital, Peter Thiel, Max Levchin, Yuri Milner and Carl Pascarella. Brex participated in the Y Combinator Winter ’17 batch. The company’s headquarters are in San Francisco. For more information, visit www.brex.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
After years of investments and acquisitions, CloudBlue was created with the goal of building the world's only hyperscale digital platform with an increasingly infinite ecosystem and proven go-to-market services. The result? An unmatched platform that helps customers streamline cloud operations, save time and money, and revolutionize their businesses overnight. Today, the platform operates in more than 45 countries and powers more than 200 of the world's largest cloud marketplaces, managing mo...
Containerized software is riding a wave of growth, according to latest RightScale survey. At Sematext we see this growth trend via our Docker monitoring adoption and via Sematext Docker Agent popularity on Docker Hub, where it crossed 1M+ pulls line. This rapid rise of containers now makes Docker the top DevOps tool among those included in RightScale survey. Overall Docker adoption surged to 35 percent, while Kubernetes adoption doubled, going from 7% in 2016 to 14% percent.
Blockchain has shifted from hype to reality across many industries including Financial Services, Supply Chain, Retail, Healthcare and Government. While traditional tech and crypto organizations are generally male dominated, women have embraced blockchain technology from its inception. This is no more evident than at companies where women occupy many of the blockchain roles and leadership positions. Join this panel to hear three women in blockchain share their experience and their POV on the futu...
Technology has changed tremendously in the last 20 years. From onion architectures to APIs to microservices to cloud and containers, the technology artifacts shipped by teams has changed. And that's not all - roles have changed too. Functional silos have been replaced by cross-functional teams, the skill sets people need to have has been redefined and the tools and approaches for how software is developed and delivered has transformed. When we move from highly defined rigid roles and systems to ...
The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long development cycles that produce software that is obsolete at launch. DevOps may be disruptive, but it is essential. DevOpsSUMMIT at CloudEXPO expands the DevOps community, enable a wide sharing of knowledge, and educate delegates and technology providers alike.
The platform combines the strengths of Singtel's extensive, intelligent network capabilities with Microsoft's cloud expertise to create a unique solution that sets new standards for IoT applications," said Mr Diomedes Kastanis, Head of IoT at Singtel. "Our solution provides speed, transparency and flexibility, paving the way for a more pervasive use of IoT to accelerate enterprises' digitalisation efforts. AI-powered intelligent connectivity over Microsoft Azure will be the fastest connected pat...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
Atmosera delivers modern cloud services that maximize the advantages of cloud-based infrastructures. Offering private, hybrid, and public cloud solutions, Atmosera works closely with customers to engineer, deploy, and operate cloud architectures with advanced services that deliver strategic business outcomes. Atmosera's expertise simplifies the process of cloud transformation and our 20+ years of experience managing complex IT environments provides our customers with the confidence and trust tha...
Financial enterprises in New York City, London, Singapore, and other world financial capitals are embracing a new generation of smart, automated FinTech that eliminates many cumbersome, slow, and expensive intermediate processes from their businesses. Accordingly, attendees at the upcoming 23rd CloudEXPO, June 24-26, 2019 at Santa Clara Convention Center in Santa Clara, CA will find fresh new content in full new FinTech & Enterprise Blockchain track.
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
At CloudEXPO Silicon Valley, June 24-26, 2019, Digital Transformation (DX) is a major focus with expanded DevOpsSUMMIT and FinTechEXPO programs within the DXWorldEXPO agenda. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of business. Only 12% still survive. Similar percentages are found throug...
As you know, enterprise IT conversation over the past year have often centered upon the open-source Kubernetes container orchestration system. In fact, Kubernetes has emerged as the key technology -- and even primary platform -- of cloud migrations for a wide variety of organizations. Kubernetes is critical to forward-looking enterprises that continue to push their IT infrastructures toward maximum functionality, scalability, and flexibility. As they do so, IT professionals are also embr...
In today's always-on world, customer expectations have changed. Competitive differentiation is delivered through rapid software innovations, the ability to respond to issues quickly and by releasing high-quality code with minimal interruptions. DevOps isn't some far off goal; it's methodologies and practices are a response to this demand. The demand to go faster. The demand for more uptime. The demand to innovate. In this keynote, we will cover the Nutanix Developer Stack. Built from the foundat...
CloudEXPO has been the M&A capital for Cloud companies for more than a decade with memorable acquisition news stories which came out of CloudEXPO expo floor. DevOpsSUMMIT New York faculty member Greg Bledsoe shared his views on IBM's Red Hat acquisition live from NASDAQ floor. Acquisition news was announced during CloudEXPO New York which took place November 12-13, 2019 in New York City.
AI and machine learning disruption for Enterprises started happening in the areas such as IT operations management (ITOPs) and Cloud management and SaaS apps. In 2019 CIOs will see disruptive solutions for Cloud & Devops, AI/ML driven IT Ops and Cloud Ops. Customers want AI-driven multi-cloud operations for monitoring, detection, prevention of disruptions. Disruptions cause revenue loss, unhappy users, impacts brand reputation etc.