Company:Brex

From HandWiki
Brex
Brex
TypePrivately held company
FoundedJanuary 3, 2018
HeadquartersSan Francisco, CA

Brex is a credit card company that issues corporate credit cards to technology companies in the United States.

History

Brazilian entrepreneurs Henrique Dubugras and Pedro Franceschi founded the company in 2017. They founded their first company, Pagar.me, in Brazil when they were teenagers.[1] In January 2017, Brex received seed funding from Y Combinator, a start-up accelerator.[2] Brex has raised over $57M also received investment from Peter Thiel, Max Levchin, Ribbit Capital and Yuri Milner.[3] In October 2018 Brex raised an additional $125M of capital and became a financial unicorn announcing its Series C capital raise led by investors including Greenoaks, DST Global and IVP[4]

Services

Brex offers corporate credit cards, a type of business credit card, to early stage technology companies[5]. Its cards are issued on the Visa network. Brex offers charge cards, and their balance needs to be paid after each statement period.[6]  

References

  1. ↑ "I Am Living Proof Of The American Dream: With Henrique Dubugras Co-founder of Brex" (in en). Authority Magazine. 2018-07-11. https://medium.com/authority-magazine/i-am-living-proof-of-the-american-dream-with-henrique-dubugras-co-founder-of-brex-24f08046dc5b. 
  2. ↑ Kauflin, Jeff. "New Credit Card Startup Lands $50 Million From PayPal Mafia And Other Investors" (in en). Forbes. https://www.forbes.com/sites/jeffkauflin/2018/06/19/new-credit-card-startup-lands-50-million-from-paypal-mafia-and-other-investors/#86012d123873. 
  3. ↑ "Meet Y Combinator's Favorite Credit Card Startup—Which Just Raised $50M from PayPal Founders" (in en). Fortune. http://fortune.com/2018/06/19/paypal-peter-thiel-y-combinator-brex/. 
  4. ↑ Rudegeair, Peter (2018-10-05). "The College Dropouts Who Rode Credit Cards Into The Billion-Dollar Startup Club" (in en-US). Wall Street Journal. ISSN 0099-9660. https://www.wsj.com/articles/the-college-dropouts-who-rode-credit-cards-into-the-billion-dollar-startup-club-1538740851. 
  5. ↑ "Brex Small Business Card: If Square Could Work, Is There Potential Here?" (in en-US). PaymentsJournal. 2018-06-19. http://paymentsjournal.com/brex-small-business-card-if-square-could-work-is-there-potential-here/. 
  6. ↑ "Brex picks up $57M to build an easy credit card for startups – TechCrunch" (in en-US). https://techcrunch.com/2018/06/19/brex-picks-up-57m-to-build-an-easy-credit-card-for-startups/. 




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