According to foreign media reports, US Brex received another $200 million in debt capital financing, provided by Credit Suisse, and the round of financing will be used for the expansion of e-commerce credit business.
So far, Brex has raised $2.315 billion in equity financing from Y Combinator Continuity, Ribbit Capital, Greenoaks Capital, DST Global, IVP, Peter Thiel and Max Levchin, and $2.3 billion in debt capital from Barclays Investment Bank and Credit Suisse.
It is worth mentioning that Brex received a US$125 million Series C financing in 2018, which made it one of the youngest unicorns in history. In less than two years, , the company's valuation reached US$1.1 billion.
Brex is a credit service provider, was founded in 2017 and is headquartered in San Francisco, USA. It was founded by Henrique Dubugras and Pedro Fanceschi. Brex provides credit services to users based on factors such as the number of equity, revenue and expenditure status, and overhead mode of the company's investors and audiences. At the same time, it integrates accounting software such as Expensify and QuickBooks to help users receive invoices through their mobile phones.
Dubugras and Fanceschi recognize a huge problem facing entrepreneurs: How to obtain credit loans for ? Large banks are often unwilling to take on higher risks for small businesses, so entrepreneurs often face the problem of difficulty in financing.
Dubugras and Fanceschi not only have their own entrepreneurial connections, but they also have the capabilities in the field of fintech, so they want to build a credit company that specializes in serving the founders.
Brex credit card
Brex simplifies the loan process
Brex does not require anyone to guarantee or provide a security deposit . As long as the online application is completed, the credit limit provided by Brex to entrepreneurs is more than 20 times higher than that in other places. Brex provides a fully automated fee management system and connect it to the internal financial system .
Brex platform does not use any third-party legacy technology, and this software platform is completely built from scratch.
Company Credit Card
Company Credit Card is a credit card that organizations can issue to authorized employees. They can use this credit card to pay the approved business expenses without paying the fees themselves, such as some overheads incurred during business trips. Another benefit of corporate credit cards is that reduces the cost and time of expense management with built-in analytical tools such as accounting and receipt tracking.
However, company credit cards have strict qualification requirements and are only issued to a few companies. Generally speaking, an enterprise must have an annual income of more than $4 million, an annual expenditure of at least $250,000, and a minimum of 15 cardholders.
Brex provides various corporate credit cards to meet different business needs. These include credit product for startups, late-stage enterprises, life sciences and e-commerce. These cards do not require personal guarantees or credit review, and does not charge annual fees or interest, and all balances must be fully reimbursed at the end of each statement period.
Brex's product
Brex provides this credit card that improves the transfer of expenses between employees and enterprises (travel, reimbursement, etc.). Enterprises can know and manage these expenses with one click, and conduct more controllable cash management. The employees do not have to worry about complex procedures such as advance payment and reimbursement.
Brex said that Credit Suisse's debt financing is a major milestone for Brex, which can help the platform strengthen financing and credit infrastructure to support the company's rapid growth and market expansion.
Brex does not do it to improve the efficiency or success rate of the corporate credit model, it does it to rebuild the B2B financial product . Brex started from helping technology companies build corporate credit cards to expand to startups of all sizes.
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-