# Brex

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/brex

- Industry: Financial Services
- Headquarters: Salt Lake City, US
- Website: www.brex.com
- Total disclosed funding: $1.2B
- Latest round: Series B (Mar 22, 2022)
- Investors on record: 16

## About

Founded in 2017 and based in Salt Lake City, UT , Brex Inc. is a financial technology company that provides innovative solutions for financial management, including corporate credit cards and expense management tools, aimed at businesses of all sizes. The company was established by Henrique Dubugras and Pedro Franceschi. In January 2026, Capital One Financial Corporation agreed to acquire Brex Inc. from Durable Capital Partners, Base10 Partners, Valiant, Tiger Global Management, Baillie Gifford, RIT Capital Partners, Madrone Capital Partners, GIC, TCV, Lone Pine Capital, Kleiner Perkins, Mindset Ventures, DST Global, Greenoaks Capital, Institutional Venture Partners, Ribbit Capital, and Y Combinator for USD 5.15 billion in cash and stock. The transaction was completed in April 2026. Brex Inc. offers a comprehensive financial technology platform designed to enhance expense management for its clients. Its core product suite includes a corporate credit card, business banking solutions, expense management, accounting automation, bill pay, and travel booking tools. The platform is engineered to streamline financial operations through AI-powered automation, simplifying processes such as invoice entry, approval workflows, and real-time expense tracking. Brex Inc. targets startups, mid-sized companies, and enterprises, providing tailored solutions that address their unique needs in financial management. Key markets for these offerings include the United States, the United Kingdom, Canada, as well as many countries across Europe and Asia, allowing businesses to operate seamlessly in over 120 countries. Brex Inc. generates revenue through a combination of subscription fees and transactional services associated with its financial products. The pricing structure includes plans that start at USD 0 per user per month, with advanced features available for USD 12 per user per month. Clients utilize Brex's corporate credit card and business banking services to facilitate daily transactions, managing expenses, paying vendors, and automating billing processes. The transaction model operates primarily on a B2B basis, where businesses leverage Brex's financial solutions to optimize cash flow and ensure compliance with spending policies. By offering high credit limits and cash-back options, Brex incentivizes clients to utilize its services extensively, fostering deeper relationships and recurring revenue streams through its integrated financial ecosystem. Brex Inc. plans to introduce new product offerings aimed at expanding its financial management capabilities. Specific details on upcoming launches and timelines will be released in due course. The company aims to break into additional markets, focusing on regions such as Europe and Asia, to solidify its global presence. The January 2026 acquisition enables Capital One Financial Corporation to gain access to technology used by companies to administer corporate credit cards, expenses, and rewards, and strengthen its position with corporate clients.

## Funding rounds

- Series B, Mar 22, 2022 — Baillie Gifford
- Series D, Jan 11, 2022, $300M — TCV, Greenoaks Capital
- Series D, Apr 26, 2021, $420M — Institutional Venture Partners, TCV, GIC, Madrone Capital Partners, Tiger Global Management, Baillie Gifford, Greenoaks Capital, DST Global, Lone Pine Capital, Y Combinator, Ribbit Capital, Valiant, Base10 Partners, Durable Capital Partners
- Series C, May 19, 2020, $150M — DST Global, Lone Pine Capital
- Series C, Jun 11, 2019, $100M — Institutional Venture Partners, Kleiner Perkins, Greenoaks Capital, DST Global, Y Combinator, Ribbit Capital
- Series C, Sep 21, 2018, $171M — Institutional Venture Partners, Greenoaks Capital, DST Global, Mindset Ventures
- Series B, Mar 12, 2018, $50M — Y Combinator, Ribbit Capital
- Series A, Nov 13, 2017, $6.7M — Y Combinator, Ribbit Capital

## Investors

- Y Combinator (https://capitalatlas.ai/funds/y-combinator) — Series A, Series B, Series C, Series D
- Ribbit Capital (https://capitalatlas.ai/funds/ribbit-capital) — Series A, Series B, Series C, Series D
- Institutional Venture Partners (https://capitalatlas.ai/funds/institutional-venture-partners) — Series C, Series D
- Greenoaks Capital (https://capitalatlas.ai/funds/greenoaks-capital) — Series C, Series D
- DST Global (https://capitalatlas.ai/funds/dst-global) — Series C, Series D
- Mindset Ventures (https://capitalatlas.ai/funds/mindset-ventures) — Series C
- Kleiner Perkins (https://capitalatlas.ai/funds/kleiner-perkins) — Series C
- Lone Pine Capital — Series C, Series D
- TCV (https://capitalatlas.ai/funds/tcv) — Series D
- GIC — Series D
- Madrone Capital Partners — Series D
- Tiger Global Management (https://capitalatlas.ai/funds/tiger-global-management) — Series D
- Baillie Gifford (https://capitalatlas.ai/funds/baillie-gifford) — Series D, Series B
- Valiant (https://capitalatlas.ai/funds/valiant) — Series D
- Base10 Partners (https://capitalatlas.ai/funds/base10-partners) — Series D
- Durable Capital Partners — Series D