Brex

About Brex

Financials

Dated, source-cited figures. Estimates are marked.

Products by Brex

All products by Brex reviewed by our AI panel of experts.

BrexAI Finance

AI-powered financial platform for growing businesses

Free7.9/10

How Our Review Panel Scores Brex

Six independent reviewer personalities assessed Brex's product on their own terms. They landed within 0.7 points of each other, an unusually strong consensus.

Averaged across 1 reviewed product in our catalog. Scores are out of 10.

Competitive Landscape

Who Brex competes with, and how they differ.

Ramp8.0/10

Ramp is Brex's closest direct rival in corporate cards and spend management, but stayed anchored to SMB and mid-market customers even as Brex retreated to enterprise-only accounts in its 2022 SMB exit.

1 product reviewed on TopReviewed

Mercury8.3/10

Mercury competes for the startup banking relationship Brex vacated in 2022, offering FDIC-insured business banking accounts rather than Brex's charge-card-plus-spend-software model.

1 product reviewed on TopReviewed

Bill.com7.8/10

Bill.com (which owns Divvy) targets SMB accounts-payable and expense automation with a software-fee model, overlapping with Brex Empower but without Brex's card-issuing and underwriting business.

1 product reviewed on TopReviewed

A

American Express

American Express Business/Corporate Cards compete for the large-enterprise card spend Brex now targets, backed by a legacy charge-card network and rewards ecosystem at a scale Brex cannot match.

Company Timeline

Key milestones in Brex's history, with sources.

1. Apr 7, 2026Acquisition

   Capital One completes acquisition of Brex

   Capital One closed its purchase of Brex for approximately $2.56B in cash plus 10,646,306 shares of Capital One common stock.

   theglobeandmail.com
2. Jan 22, 2026Acquisition

   Capital One agrees to acquire Brex for $5.15B

   Capital One agreed to buy Brex for $5.15 billion in cash and stock, a steep discount to Brex's 2021 peak $12.3B private valuation; deal expected to close Q2 2026.

   techcrunch.com
3. Jun 17, 2022Milestone

   Brex exits the SMB market

   Brex notified small-business customers they would be removed from the platform by August 15, 2022, saying it had become "less suited to meet the needs of smaller customers" and would refocus on enterprise and VC-funded startup accounts.

   techcrunch.com
4. Apr 13, 2022Launch

   Launches Brex Empower spend-management software

   Brex launched Brex Empower, spend-management software that auto-collects receipts and gives finance teams real-time budget visibility; DoorDash signed on as its first major enterprise customer.

   techcrunch.com
5. Oct 21, 2021Funding

   Signs $300M term sheet at $12.3B valuation

   Brex signed a term sheet for $300M led by Greenoaks, valuing the company at $12.3B (its all-time peak private valuation) as it said it was on track to double revenue that year.

   techcrunch.com
6. Apr 26, 2021Funding

   Series D — $425M at $7.4B valuation

   Brex raised $425M led by Tiger Global at a $7.4B valuation, more than double its prior valuation from mid-2020.

   techcrunch.com
7. Jun 11, 2019Funding

   Series C-2 — valued at $2.6B with new cash from Kleiner Perkins

   Brex raised additional funding led by Kleiner Perkins, valuing the company at $2.6B.

   techcrunch.com
8. Oct 5, 2018Funding

   Series C — $125M at $1.1B valuation

   Brex raised a $125M Series C led by Greenoaks Capital, DST Global and IVP, valuing the company at $1.1B just four months after its public launch and bringing total funding to roughly $200M.

   techcrunch.com
9. Jun 19, 2018Funding

   Series B — $57M, comes out of stealth

   Brex raised $57M from Y Combinator Continuity, Peter Thiel, Max Levchin, Yuri Milner and Ribbit Capital as it publicly launched its corporate charge card for startups.

   techcrunch.com
10. April 2017Founded

    Founded by Henrique Dubugras and Pedro Franceschi

    Dubugras and Franceschi entered Y Combinator with a virtual-reality startup called Beyond, abandoned it within three weeks, and pivoted to payments/fintech, founding Brex in April 2017.

    techcrunch.com