Overview
Brex is a fintech company that has revolutionized the corporate credit card landscape. Founded in 2017 by Henrique Dubugras and Pedro Franceschi, two young entrepreneurs from Brazil, Brex offers a unique credit card specifically designed for startups, e-commerce brands, and other businesses. Unlike traditional credit cards, Brex determines credit limits based on a company’s cash balance and sales rather than relying on personal credit scores. This approach has made it easier for emerging businesses to access credit and manage their expenses efficiently.
In addition to its innovative credit solutions, Brex provides a suite of financial tools and software that integrate seamlessly with its card. These tools offer real-time spending insights, automated expense management, and rewards tailored to the needs of modern businesses. With its forward-thinking approach, Brex has quickly become a go-to choice for startups and established companies alike looking for flexible and transparent financial solutions.
It is also a component of the Prime Unicorn Index, the standard bearer for private markets benchmarking. Reflecting the broader private market, the Index is down 6.52% year-to-date.
Funding History
Brex’s journey in the financial sector is punctuated by impressive funding rounds that underscore investors’ confidence in the company’s vision.
In its most recent round in November 2021, Brex raised a substantial $300.00M in a Series E round, which valued the company at $11.89B. This round also set the preferred price per share at $34.74.
In April 2021, Brex secured $420.08M in a Series D round. This funding round ascribed a valuation of $7.50B to the company, with a preferred price per share of $22.58.
In October 2018, Brex raised a $163.31M Series C round at a PPPS of $4.72. Between 2019 and 2020, the company raised $285.86M through a Series C-2 round at $10.72 per preferred share, which valued the company at over $3.3B.
2018 also witnessed a Series B round in March, where Brex raised $47.27M, and shares were priced at $1.12. Moving back in time, November 2017 marked Brex’s Series A round, where the company successfully raised $6.48M, setting the preferred share price at $1.37.
Investors include Y Combinator, Ribbit Capital, Kleiner Perkins, DST, Tiger Global, and Base10, among others.
See how Brex has performed against the Prime Unicorn Index below.
