May 18, 2022
Link Estadão

Fintech Brex, developed by Brazilians in the United States, confirms US $ 300 million investment – Link

A Fintech Brex, Founded by two Brazilians Silicon Valley, Confirmed the receipt of an investment round of $ 300 million this Tuesday, the 11th – with a check, the market value of the startup rises to US $ 12.3 billion. This contribution was initially disclosed by the US website Tech Crunch In October.

The round was led by Greenox Capital and DCV. Since its inception in 2017, Brex has raised $ 1.2 billion.

In addition to the check, FinTech has announced the hiring of former meta-based Karandeep Anand as Production Director.

Pedro Francesci and Henrik Dubuque, founders of Brex

In the United States, Brex offers credit cards to local start-ups. The difference in service is agility: the company guarantees a digital version of the card within five minutes of registration and a physical version within five days.

In addition, banks do not require guarantees such as income and personal property from Brex entrepreneurs, so they can access the corporate card. To assess risk, Brex evaluates a startup’s record record, cash flow, and expense, regardless of revenue.

However, now Fintech is at a new juncture: Brex customers are growing, and the service needs to be adapted to serve medium and large companies – this is the new frontier of growth for startups.

The financial services market for startups is growing. In competition with Brex in the United States, Ramp announced a new $ 300 million round in August, raising its market value to $ 3.9 billion.