Brex
Financial Services
Brex is an AI-powered financial platform catering to businesses ranging from startups to large enterprises. The platform streamlines spending through integrated solutions encompassing corporate cards, expense management, travel, and payments globally. It offers robust features like real-time tracking, AI-driven automation, and financial controls designed to empower teams and enhance financial oversight.
Founded: 2017
Henrique Dubugras Founder and Co-CEO |
Pedro Franceschi Founder and Co-CEO |
Paul-Henri Ferrand COO |
Michael Tannenbaum CFO |
Sam Blond Chief Sales Officer |
As the spend management space continues to get more competitive, the various players seem to be constantly iterating to add new features to their products.
Jason Mok is a former operating partner of a16z and spent over 16 years within various roles at Silicon Valley Bank.
Fintech startup Brex was already a high flier, growing by 200% last year with more than 200,000 customers from startups to enterprises. Providing a way for fast-growing innovators to access credit, it has been known as an edgy competitor to 40-year-old Silicon Valley Bank.
So far, over $1.3 billion of payroll loan requests to Brex have been made from over 500 applicants in the wake of SVB collapse.
Companies including JPMorgan Chase, Morgan Stanley and First Republic have also seen heightened inflows Thursday as SVB's stock tanked.