Total amount raised
$12.3 Billion
Latest funding date
1/1/2022
Location
Brex has successfully raised funding over 14 rounds, with the latest being a Debt Financing round. The company is backed by 57 investors, including notable names like Angelo Gordon and Citi.
Brex has also made strategic investments and acquisitions, including its most recent investment in Skupos and the acquisition of Pry Financials. Keep reading to explore the intricacies of Brex's fundraising journey and the investors backing this innovative platform.
What Is Brex?
Brex is a financial service and technology company based in San Francisco, California. It provides business credit cards and cash management accounts, serving various sectors including banking, credit cards, financial services, and fintech. The company has a substantial workforce, with an employee count ranging from 1001 to 5000.
Founded by Henrique Dubugras and Pedro Franceschi, Brex has grown rapidly, offering modern financial tools such as corporate cards, banking, expense management, and accounting services. The company leverages AI to automate financial operations, serving over 35,000 companies globally.
How Much Funding Has Brex Raised?
- Debt Financing
- Amount Raised: USD 100,000,000
- Date: April 2019
- Lead Investors: Barclays Investment Bank
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support Brex's growth and expansion in the financial services sector.
- Series C
- Amount Raised: USD 100,000,000
- Date: June 2019
- Lead Investors: Greenoaks, Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Debt Financing
- Amount Raised: USD 200,000,000
- Date: December 2019
- Lead Investors: Credit Suisse
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel further growth and support financial product development.
- Series C
- Amount Raised: USD 150,000,000
- Date: May 2020
- Lead Investors: DST Global
- Valuation at Round: Just over $3 billion
- Motivation Behind the Round: To expand Brex's customer base and enhance its financial management platform.
- Series D
- Amount Raised: USD 300,000,000
- Date: January 2021
- Lead Investors: Greenoaks, TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support rapid growth and product innovation.
- Series D
- Amount Raised: USD 425,000,000
- Date: April 2021
- Lead Investors: Tiger Global Management
- Valuation at Round: $7.4 billion
- Motivation Behind the Round: To scale and compete in the corporate spend management market.
- Series D
- Amount Raised: Not publicly disclosed
- Date: May 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding Brex's financial services and technology offerings.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: July 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and development initiatives.
- Debt Financing
- Amount Raised: USD 235,000,000
- Date: January 2025
- Lead Investors: Citi
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand Brex's financial services and support its growing customer base.
Total Amount Raised: USD 1,510,000,000. Current Valuation: $7.4 billion.
Key Investors
- Tiger Global
- Details: Tiger Global is a leading global investment firm known for its investments in technology and internet companies. They have a strong presence in both private and public markets.
- Investment Focus Areas: Technology, internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify, Stripe.
- TCV (Technology Crossover Ventures)
- Details: TCV is a private equity and venture capital firm that invests in technology companies at various stages of growth. They have a history of backing some of the most successful tech companies.
- Investment Focus Areas: Technology, internet, financial services.
- Notable Investments: Netflix, Facebook, Spotify.
- GIC
- Details: GIC is Singapore's sovereign wealth fund, managing a diversified portfolio across various asset classes globally. They are known for their long-term investment strategy.
- Investment Focus Areas: Real estate, private equity, infrastructure, fixed income.
- Notable Investments: Alibaba, Airbnb, Ant Financial.
- Baillie Gifford
- Details: Baillie Gifford is an investment management firm that focuses on long-term growth investments. They are known for their patient capital approach.
- Investment Focus Areas: Long-term growth investments, technology, innovation.
- Notable Investments: Tesla, Amazon, Alibaba.
- Y Combinator
- Details: Y Combinator is a startup accelerator that has funded and mentored numerous successful startups. They provide seed funding and support to early-stage companies.
- Investment Focus Areas: Early-stage startups, technology, various sectors.
- Notable Investments: Airbnb, Dropbox, Stripe.
What's Next for Brex?
Brex is poised for significant growth as it expands its product offerings from corporate cards to comprehensive financial management solutions. The introduction of Brex Premium and the planned launch of Brex Bank highlight the company's ambition to provide an all-in-one financial platform for businesses. With a $425 million Series D funding round and a valuation of $7.4 billion, the opportunities for Brex are vast, particularly in the rapidly growing fintech sector.
Future fundraising opportunities appear promising given Brex's rapid customer growth and market expansion. The company is well-positioned to attract further investment to support its ambitious plans. However, Brex will face challenges such as intense competition from other fintech companies and the need to continuously innovate. Balancing rapid growth with maintaining high service quality will be crucial for Brex's continued success.
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