- Brex is valued at $ 12.3 billion and a one-stop shop for the financial needs of many startups.
- Insider identified the key players crucial to Brex’s rise as one of the top fintech startups.
- Many of them joined the company in 2021, just as it was transitioning to remote working.
Brex, a fintech startup valued at $ 12.3 billion, became a unicorn just 16 months after it launched in 2017. The company continues to grow and expand into other sectors and has begun offering new products to small businesses and, of course, startups.
Cofounded by Pedro Franceschi and Henrique Dubugras, now co-CEOs of the company, Brex offers credit cards, cash management, and expensing services for businesses.
Now, the company has become a one-stop shop for many small businesses’ financial needs. Brex launched several new products, including financial-planning tools, spending platforms, and even an asset-management company. Its customers include startups like Carta, Thirty Madison, and Room, as well as larger companies such as DoorDash.
But recently, Brex began telling smaller customers that the company would phase out services for them. Brex said it’s “constantly evolving our business, and after changes to our strategy, we are less suited to meet the needs of smaller customers.”
Brex has also moved into the enterprise-software space. It recently bought the financial-planning platform Pry Financials for $ 90 million as it sought to become the first place startups turned to for their financial-services needs.
Here are the people helping Brex take on established institutions and guiding it through its expansion: