San Francisco Based Startup ‘Brex’ Offers Business Credit Cards and Cash Management Accounts to Technology Companies
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Brex is all-in-one finance for growing businesses. We help companies spend, save, and earn smarter—and take every dollar further—by doing more than a bank, bookkeeping, or reward program could ever do alone. After completing the Y Combinator accelerator program in 2017, Brex has grown to over 600 employees and raised over US$940 million in venture capital.
Today the company boasts 10,000 corporate customers, including start-ups like Boxed and Outdoor Voices. And with its recent $425 million fundraising round, led by investment firm Tiger Global, Brex has now raised more than $940 million from investors that also include Y Combinator and PayPal co-founders Max Levchin and Peter Thiel, along with more than $300 million in credit lines from Barclays and Credit Suisse.
Until recently, the company had 60,593 square feet of office space in San Francisco’s SoMa district, but Brex gave up its lease and the company is moving toward a remote workplace, as Dubugras and Franceschi themselves have moved to Los Angeles for warmer weather and to encourage their employees to go remote.