Startups > Brex

Brex

Brex helps businesses manage corporate spend and cash with integrated credit cards and financial controls.

Series D-2 $1.2B total Founded 2017 San Francisco, California

Brex is a fintech platform that provides corporate credit cards, cash management accounts, and spend management solutions for businesses. It serves startups and mid-market companies with SaaS-driven tools for expense tracking, financial controls, and accounting integration. Brex differentiated itself by issuing high-limit credit cards to early-stage startups based on funding history rather than personal credit, and has since expanded to serve larger enterprises with comprehensive financial operations infrastructure.

Problem solved

Early-stage startups and growing companies struggle to obtain corporate credit cards and manage distributed spending without integrated accounting and controls, forcing manual expense tracking and reimbursement processes.

Target customer

Early-stage startups through mid-market companies (50-500+ employees), with particular strength among venture-backed B2B SaaS companies and high-growth tech firms.

Website LinkedIn Crunchbase

Founders

Henrique Dubugras

Co-CEO & Founder

Brazilian self-taught coder who previously co-founded Pagar.me (Brazilian Stripe equivalent) which processed $1.5B+ in transactions before selling to Stone in 2016; attended Stanford before dropping out to start Brex.

Pedro Franceschi

Co-CEO & Founder

Brazilian self-taught coder who previously co-founded Pagar.me with Dubugras; hacked an iPhone at age 11 to add Portuguese language support to Siri; attended Stanford before co-founding Brex.

Funding history

Pre-Seed $120K April 2017 Led by Unknown · Unknown

Series A $7M Unknown Led by Unknown · Unknown

Series B $57M Unknown Led by Unknown · Unknown

Series C $375M Unknown Led by DST Global, Greenoaks, Kleiner Perkins · Unknown

Series D-1 $300M Unknown Led by Unknown · Unknown

Series D-2 $425M April 2021 Led by Tiger Global Management · Unknown

Debt Financing $100M 2019 Led by Unknown · Unknown

Debt Financing $200M 2019 Led by Unknown · Unknown

Debt Financing $235M January 2025 Led by Unknown · Unknown

Total raised: $1.2B

Industries

Financial Services Credit Cards Banking FinTech

Pricing

Freemium model with three tiers: free Essentials plan, Premium at $12/user/month for growing businesses, and custom Enterprise pricing. Mid-market pricing ranges $20K-$75K annually for 50-250 employees; Enterprise (250+ employees) typically $75K-$250K+ annually based on headcount and module selection.

Notable customers

OpenAI, Anthropic, DoorDash, Zoom Communications, approximately 25,000 companies total, with one in three US startups using Brex as of 2024.

Integrations

Accounting platforms (QuickBooks, NetSuite), bank account connections, Mastercard network, accounting software integrations, accounting automation

Website

brex.com/

Competitors

American Express

Traditional card issuer with broader consumer and business presence, but lacks modern SaaS spend management integration and accounting connectivity that Brex emphasizes.

Chase

Legacy banking institution with corporate cards but less specialized software platform for startups and less innovative spend controls and cash management features.

Bill.com

Focuses more broadly on accounts payable and invoice management rather than integrated spend management and corporate card issuance.

Ramp

Competing spend management platform with corporate cards targeting similar startup and mid-market segment with comparable feature sets.

Why this matters: Brex scaled from zero to $1.2B in funding and dominates corporate spend management for startups, with one in three US startups using the platform. The company's expansion into cash management, venture debt, and enterprise features, plus strategic positioning as the financial backbone for the AI ecosystem (OpenAI partnership), signals fintech consolidation trends where embedded financial services become core infrastructure.

Best for: Venture-backed startups and growing companies (Series A-C and beyond) that need modern corporate credit cards, distributed spend management, and integrated accounting without manual expense workflows.

Use cases

Distributed Team Expense Management

Early-stage startups with remote teams can issue virtual Brex cards to employees for specific departments or projects, enabling real-time spend tracking and automatic accounting integration. This eliminates manual expense reports and reimbursement delays while providing centralized financial controls.

Cash Flow Management for High-Growth Startups

Fast-growing companies can use Brex's cash management accounts to earn returns on operating capital and access non-dilutive venture debt. This helps founders extend runway without raising dilutive equity while maintaining flexibility for operational needs.

Corporate Spend Optimization

Mid-market companies can leverage detailed spend analytics and category controls to identify cost-saving opportunities, enforce spend policies, and manage vendor relationships. Automated accounting integration ensures real-time financial visibility across the organization.

Alternatives

Ramp Competing spend management and corporate card platform with similar features; choose based on integration preferences and company-specific feature needs.

Chase Business Card Traditional corporate card with broader acceptance but lacks modern software controls, accounting integration, and startup-focused features that Brex provides.

Bill.com Better suited for accounts payable and vendor payment management; choose if AP automation is primary need rather than spend management and corporate card issuance.

FAQ

What does Brex do? +

Brex provides corporate credit cards, cash management accounts, and SaaS-driven spend management tools for businesses. It integrates with accounting software to automate expense tracking, provides real-time financial controls, and enables companies to issue virtual or physical cards to employees. For founders, Brex also offers venture debt and banking services.

How much does Brex cost? +

Brex uses a tiered pricing model: free Essentials plan, Premium at $12/user/month for growing businesses, and custom Enterprise pricing. Mid-market companies (50-250 employees) typically pay $20K-$75K annually; Enterprise (250+ employees) ranges from $75K-$250K+ annually depending on headcount and feature selection.

What are alternatives to Brex? +

Main alternatives include Ramp (competing spend management and corporate card platform), Chase Business (traditional corporate cards with broader acceptance), and Bill.com (stronger for AP automation and vendor payments). Choice depends on specific needs around spend controls, accounting integration, and card issuance.

Who uses Brex? +

Brex serves venture-backed startups through mid-market companies, with particular strength among B2B SaaS firms. Notable customers include OpenAI, Anthropic, DoorDash, and Zoom. As of 2024, approximately one in three US startups use Brex, with about 25,000 companies as customers overall.

How does Brex compare to traditional corporate card providers like Chase? +

Brex differentiates through modern SaaS integration, real-time expense automation, and accounting software connectivity that traditional providers lack. Brex was designed specifically for startups and high-growth companies, issuing cards based on funding history rather than credit scores, and includes cash management and venture debt features traditional banks don't offer.