They left Stanford to face Amex and now their Brex company is worth $12.3 billion (2023)

Henrique Dubugras and Pedro Franceschi, now co-founders and co-CEOs of corporate cards and expense management start-up Brex, got an early start. While they were in high school, Henrique began programming to create clones of games that his parents didn't want him to buy, and Pedro was the first to jailbreak the iPhone. But when the patent infringement and cease and desist letters came in, they had to find new things to work on.

When Henrique and Pedro were in high school, they met on Twitter and then decided to work together in a company. That company was, a payment processing company that serves customers in its home country of Brazil. They employed more than 100 team members, processed more than $1.5 billion in transaction volume, and were acquired before ever setting foot in a college classroom.

After selling, Henrique and Pedro decided to enroll at Stanford, where they spent less than a year before dropping out to join the YC Winter 2017 group. There they hoped to work at a virtual reality startup, but after a few weeks they realized realized that this was not the right domain for them. As the day of the YC demo approached, they switched to Brex after realizing that most of their batchmates couldn't get company cards despite being backed by venture capital.

Five years later, Brex has raised $1.5bn from investors including Greenoaks Capital, Tiger Global, YC Continuity and others; served on top50,000 customersthrough its expense management and corporate card offerings; and employs a team of more than 1,100 people.

I recently had the chance to sit down with Henrique to get a deeper insight into how Brex was built from the ground up. In our conversation, we examined the granular details of Brex's growth: areas like Brex raised its first round of funding without a product or launch pad, what the team focused on in the 15 months it took to get to a public launch, reflecting the co-founders' philosophy on hiring engineers and other roles in the early days compared to today, and Brex's recent decision (and justification) to focus on serving larger accounts. We also had time to step back a bit to discuss the tailwinds and headwinds that Covid-19 has brought to the Brex business; the "new world we live in" and the role Brex hopes to play in it; and the main priorities of the company.


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Steven Li: You and Pedro founded together before you started Brex. What have you learned about proper segregation of duties and how have you applied those learnings to Brex? And how has this model evolved over time?

Henrique Dubugras:At the beginning of our first company, we were both programmers. But Pedro was a much better programmer than I was, so he basically told me to do the other stuff, and the "other stuff" at the time was sales. At first, I didn't think sales was something anyone could do because I always thought it was a role for really extroverted people who could play high school sports and really talk, and I was an introverted programmer. But I've read this book called The Sales Bible and it turns out that if you just do what the book says, it works. That's how it was at first, but over time it evolved.

We discovered that I was a better seller than the leading salespeople. And not just sales in the sense of selling customers, but also discussions with investors, press and other external communication.

So we evolved into this kind of insider-outsider model, one that we also use at Brex today, in the sense that I do a lot of external relations and he does a lot of internal things. Brex was a repeat offender in the sense that when we started over, Pedro focused on the technology and I did a lot of other things like navigate the regulatory landscape, build partnerships, start the company and raise funds.

Today we are working on a co-CEO model where I run the external stuff and Pedro handles a lot of the internal stuff. Now that Brex has developed more companies, my role has also been particularly relevant because with a lot of the larger client meetings and things like that, it helps divide those responsibilities between the two of us.

Brex started because none of the companies in the W17 stack could get a corporate card, but Brex's vision was much more than that. How did Brex approach customer awareness and what did you learn about what are the critical features by bringing in the first one? Do customers have to be present?

We knew from our time at YC that every business needs a corporate credit card, so we didn't have to do much convincing; We just had to make sure that ours is better than the solutions on the market.

And then the first version of that was, okay, let's go to the customers who can't really even get one. And that's why anything we do is better than nothing. So we didn't compete with anything. And so we set priorities. We thought about how we could create the minimal working version where a card is swiped and a transaction is processed.

Then we went feature by feature. Once we got a card working, we needed to create a dashboard where customers could see their transaction history. But we've had customers use Brex even before they could see those transactions because we weren't competing with anything.

Brex graduated from YC in March 2017 and was able to raise a $6.5 million Series A the following month. As far as I know, you did this without code (since Demo Day was too soon after walking away from another VR idea you and Pedro were exploring) and without a deck. Can you explain to me how you did it?

I think a couple of things happened and the first was that we had previously sold our payment company ( and when Mickey (Malka) and others called the company that won us and our clients over by checking references, these they came out positively. . Being a second-time entrepreneur helped us build confidence that we would build what we said we could build.

The second thing was that fintech was all the rage back then; We were in this phase where Stripe and Square were doing really well. In general, since we were early, I think it was a bet on both equipment and space.

I remember your fireside chat with Anu (Hariharan) at Techcrunch Disrupt that you and Pedro were keen to bring Max Levchin on board as an inventor and the plan to open the door was to do an interview on Affirm and then ask for an interview to ask Max before accepting an offer. Can you share how it helped Brex in the early days?

In the early days Max was very good at helping us figure out how the landscape works. He told us about Marqeta, the first vendor we started issuing cards with, and how he got the first debt deal from him.

We knew quite a bit about the fintech ecosystem and payments space from our previous company, but Max understood a lot about the US environment and what was going on here. He also helped us figure out how we would launch and build Brex in the long term. As Brex grew he continued to help us with mentoring to build the business.

How did Pedro and you define PMF in the early days and what were the first signs that Brex had it?

After our public launch, we started to grow very quickly. Customers signed up and started spending, and we got revenue. We went from an ARR to around 10 million within five or six months of launch.

To us, that seemed to be what people would describe as product-marketplace in the sense that people sign up, use our product, and like it. We are also guided by revenue metrics and payment volume.

It took 15 months for Brex to come to market after the seed/Series A (combined round) raise, which you mentioned because you're doing a lot of things right and really wanted to bring a differentiated product to market. And in that time, Brex has gained over 100 customers and tested and reproduced the product. What did you learn during that time and what do you think needed to happen for you to feel comfortable with a public release?

We thought we really wanted to capitalize on the public release. We wanted signup to feel very fast, so we tried to allow 70-80% of customers to sign up right away, without manual verification. We also wanted full features compared to what's already on the market so that as we grow our customer base, they don't feel like it's a terrible product. Although looking back our feature set was very incomplete, we felt it was complete enough to release at the time.

When Brex didn't launch publicly, I'm assuming the first team was deeply involved in each customer onboarding. But as Brex became public self-service, I'm assuming the customer acquisition strategy had to change a bit to keep up with the scale.

yo I'd say it's pretty similar now vs then. Overall, performance marketing hasn't worked as well for us. Lots of startups had Google and Facebook as their primary channels and they just doubled down on them, but to be honest, they never worked that well for us.

We've always been more focused on community-focused things, like channel partnerships, referrals, brands, working to build more general awareness, or bottom-of-funnel stuff. But as we move more into the midmarket and enterprise, there are a lot of things that we should be doing that we're not doing, and we're working on them right now.

Brex increased the number of employees very quickly: from 12 to 100 to 400 to 600 to 1100 (numbers are year over year since inception). In the early days, he mentioned that his approach to hiring non-engineers was to pick the right people to hire as soon as possible and grow into those roles if they weren't already a great fit. And for the engineers, he mentioned that he had a technical challenge creating an authorizer to distinguish between young and old people. Can you explain the reasons for this recruitment strategy? He is curious as to what he was looking for technically and what qualities he was looking for in these crucial early candidates.

At first we didn't hire a lot of junior staff; Our initial strategy was to hire fewer engineers who better understood the architecture and could build things right. As for the authorization issue, we wanted to get an idea of ​​how well someone could do something they could actually work on in Brex compared to things like how many tennis balls can fit on a bus.

A big differentiator on the technical side was the test. Testing things is important because scaling a payments company is different than scaling Facebook, for example. One scenario is if a million people click the "Like" button on Facebook at some point, but it turns out you're not counting some of those likes, it's not the end of the world. Many of the strategies you should use to implement and grow Facebook revolve around having many users access a resource at the same time, but this process may not always be reliable. The question is how to create algorithms and systems that can solve such problems?

While every transaction is very important in Brex, it is vital to make sure we have the correct balances and correct fund movements. In that sense, our authorization question was quite relevant and really relevant to how engineers would think about architecture, databases, and maintaining consistency and reliability.

Listening to some other interviews, I understand that in the early days you always wanted to hire great engineers the way you saw them. And then on the non-technical side, you've often gone for people who didn't necessarily have the experience in the role they were applying for; They didn't want to miss the opportunity to hire talented people, even if they weren't exactly right for the part. Would you say that this philosophy has been maintained as the company has grown?

I would say with most startups you need more generalists when you're smaller and when you grow you want more specialists. Today we try to hire people who have similar and highly relevant experiences with what we do, because every little bit is worth tweaking.

We used to need someone who could learn and do multiple things. Just like Brex today, there are one or two people whose job it is to manage social media. There are other examples, but in general, we would probably want to hire someone who has experience in a specific role, unlike before where we might have had a marketing rep managing social media, email marketing, and other related roles.

Intuitively, it's painful for companies to transition their spend management from something like Concur to a new service, because even if those services suck, they "work" and companies (especially those unfamiliar with the software) can resist. the change. How does Brex feel about this challenge? Can you walk me through the steps in a typical sales cycle that are being taken to mitigate it?

For a long time, Brex was very focused on attracting startups that would grow. So our whole model was, how do we sign some small companies and then grow with them? For example, Scale AI was our first customer and now there are almost 1,000 people still using Brex Empower.

Now that we're targeting bigger customers, those who may already be big, we need to present a good enough value proposition to be worth the cost of switching. There are a number of value propositions that can be compelling reasons for a company to change.

For example, one is the shift to working from home, with many employees now being paid a salary instead of eating lunch at the office. You need a better way to manage this process because when you have 1,000 employees and everyone is submitting a grant expense every month, it's agony for the finance team and the entire company.

Another example is that many business trips have focused on sales reps visiting clients or entrepreneurs visiting partners. Now, with remote work, all companies are off-site all the time and traveling to see each other as teams. So many of the built-in workflows in Concur and others failed when you look at these distributed businesses and their travel patterns.

Then there is the idea of ​​going global. Many companies are starting to hire people everywhere, and to do it right, you need a system to compensate team members in different countries. This paradigm shift is forcing organizations to look for new solutions and re-evaluate their current systems, and we are definitely thinking a lot about it.

How has the Covid-19 pandemic changed the way Brex works? One thing that comes to mind is that when startups started saving cash, they probably cut back on spending, which lowers the POS and therefore exchange rates. At the same time, businesses need their credit cards more than ever to work. If these assumptions are correct, how has Brex adapted operationally in this environment?

If you look at payment processing in general, it's actually gone up. If you look at Stripe and Adyen, for example, their numbers have actually increased significantly due to the "Covid-driven" nature at the request of companies like Doordash and Instacart.

For corporate cards, we've actually seen a drop in processing volume because people haven't traveled. And I will say that during Covid there weren't a lot of companies that wanted new software because everyone is focused on surviving.

Now, in the macroeconomic context of the recession, we see spending fall. But now there's a tremendous focus on doing more with less and on software that makes your business more efficient. So if you haven't helped increase sales over the past year, you've often missed the CFO's time of day. But now all CFOs are looking for new ways to help with cost management, so we've focused on making that happen.

You mentioned that your fundraising philosophy is to build investor relationships over time, raise money only when you need it, and see those fundraisers as an opportunity to partner with great investors and change the price. Brex has raised two rounds of funding in 2021, one in April and one in October (Series D and Series E). Why were these salary increases critical at the time?

We definitely only raise money when there's a lineup where we find the right investor at the right price and in the right market. And we always like to be very overcapitalized. There are some companies that like to optimize to the maximum so that they always get the minimum dilution and only get the capital they really need at any one time. We like to have money left over for those moments. Luckily up to this point we have a lot of money left over because now we have a lot of track.

But we also don't like to raise money from people we don't like to spend time with or who we don't think are good long-term shareholders. We want people who can hold our shares for a long time, because as a public company, the price goes down when a majority shareholder sells a bunch of shares. We are optimizing for long-term holders who are not only not selling, but would consider buying more as we grow. That's why we like to spend our time getting to know people and understanding them, and allowing them to understand the vision. When we discover that an investor really understands our strategy and "gets" what we're doing, he gives us the confidence to execute it for the long term.

Timing wise, I think 2021 was a special year for fundraising. There was so much money in the market that not raising funds last year was almost stupid. The cost of capital is really low and could just go up, and we raised over a billion dollars last year. With relatively undiluted reviews, you could be paid incredible amounts of money. We found the partners we wanted to do it with and we did it.

Tiger led first and Green Oaks led second and I think if you ask them they don't regret making those deals. They are very excited about Brex and happy that we have been able to work together.

At the beginning of June this year, Brex made the decision to stop serving small businesses (defined as companies that have not raised venture capital). And in the context of the Brex Empower launch, that direction definitely seems more business-focused. But double-clicking on Pedro's thread about not being able to provide "white glove service" to these smaller businesses, when did that first become an issue?

We started out serving startups and had three expansion packs: eCommerce, Large Business, and Small Business. For the latter, we thought of serving traditional neighborhood stores and expanding horizontally. We tried to edit and expand on all three segments at the same time.

What we didn't expect was that small businesses were consuming all of our resources; We went from taking 500-700 clients per month to taking 5000-7000 clients per month. Then we mainly focused on improving support for those customers, initiatives like building more automation and anti-fraud tools. At this scale there have been many challenges and we have allocated many resources to serve this customer segment and have neglected the other two.

When we look at the business, we think, okay, it turns out we can't do all these things at the same time because all these problems are so complicated. We have to choose some that are not so complicated or choose some that we think will be the best for the company to solve. For us, that meantI had to choosebetween larger clients or small businesses and we went with the larger clients because we really had no choice.

Our major customers, like Scale AI, have told us that if they don't build something for us, we'll have to think of something else. So do that or you'll lose a lot of our biggest customers. So we decided to go offline and focus on those customers, the startups that are growing, and also the larger customers.

How did the team come to the conclusion that venture capital-backed companies fail? Why not something like income?

It's hard to define, but basically we think that if we look at our product roadmap and the things that we build, we're building things for a company that has reached a certain scale. And by size we mean a large number of employees.

Because if you look at expense management, for example, and you have a lot of employees, it's often very valuable to make this process very efficient. If you don't have many employees, there aren't enough expenses to process that you don't have to do anything particularly efficient.

Also, a startup going big happens all the time, but a retail store turning into a Walmart, for example, is a bit more rare.

What do you see as the top three initiatives at Brex over the next year or so with the launch of Empower and the refocusing of efforts towards enterprise?

Number one ensures that we support global business. As businesses go global, they need to figure out how to issue cards anywhere, refund people anywhere, and pay taxes anywhere across multiple entities.

Number two is building expense management at scale – all the functionality needed by businesses on the scale of DoorDash and Coinbase, which we've already signed up for. We want to be able to say that as you are a VC-backed company and you grow, you can be sure that Brex will allow you to scale indefinitely.

And then number three is building our go-to market for this new world that we live in. Previously, all of our marketing and go-to-market was designed around corporate cards – how we would serve startups and other segments. Now that we're building for larger companies, many of our marketing, sales, and other functions must evolve. That's why, among other things, we hired a new CRO.

Since the corporate cards and expense management categories are so large (even in the US), what was the reason for allocating resources internationally now or later?

We believe that all companies in our category will eventually become a global company, and this is especially true in this macroeconomic context. The cost of hiring an engineer in Brazil is much lower than in the US and honestly they are just as good.

I think we interviewed for a HR position and in Toronto the talent is literally half the price compared to San Francisco; and the person we ended up hiring in Toronto was better than the SF candidates. I think every company, especially technology companies that are efficient and profitable, are already a global company or will hire people from all over the world. The talent market will be the global market.

How would you describe "this new world we live in" and the role Brex hopes to play in it?

If we look at what has happened in the last few decades, organizations are becoming more and more distributed. And by "distributed" I don't necessarily mean remote work, just that companies now have multiple locations.

If you look at Walmart in the '60s, they opened one store and it was really hard to open a second store, but they opened it and figured out how to do a lot of business. Back then, Sam Walton bought a plane to fly back and forth between the stores just so he could handle them.

But then phones went mainstream. And then we had the internet, then email, and then Zoom. With all these new tools, companies could open more offices to hire employees at a lower rate from a previously inaccessible talent pool or have team members closer to their clients. We continue to move in this direction with Google Docs, Figma, and other tools that allow teams to work better without being in one place.

We create a lot of tools, but no one has done it for expense management, but money is a type of resource allocation process of every business. And when we talk to a lot of companies and ask them if they want to save money, they say, "Yes, we want to save money, but more importantly, we want to save money to put it where it's needed most." “Businesses want to make sure money goes to the right places in the business, not wasted in unimportant places. And I believe that with Brex Empower, our expense management solutions, we're enabling this next generation of distributed business to empower every employee to make better financial decisions.

If we can empower people (the 99% who do the right thing) to break free of red tape, we can help companies move much faster, no matter where their teams are located. And that is especially true on a global scale.


Who is Brex owned by? ›

Brex is backed by Y Combinator, Kleiner Perkins, DST Global, PayPal co-founders Max Levchin and Peter Thiel, Lone Pine Capital, and fintech specialist Ribbit Capital.

Is Brex going out of business? ›

Brex accounts will remain active until August 15, 2022. Afterwards, Brex Cash customers will no longer be able to use their account or transact on their Brex card.

What kind of company is Brex? ›

Brex Inc is an American financial service and technology company based in San Francisco, California. Brex offers business credit cards and cash management accounts to technology companies.

How did Brex get its name? ›

The name Brex was strategically chosen.

They wanted something that was simple and easy to remember, so they turned to a name-generating website to find what worked best. After discovering the name, Brex, they stuck with it.

Is Brex a good company? ›

Is Brex a good company to work for? Brex has an overall rating of 4.5 out of 5, based on over 322 reviews left anonymously by employees. 87% of employees would recommend working at Brex to a friend and 81% have a positive outlook for the business.

What is special about Brex? ›

Spend fast with 10-20x higher limits, easy ACH/wires, and no personal guarantee plus access to venture debt. Run your startup globally with cards that work in 100+ countries, 24/7 customer support, and our top-rated app. Fuel your growth from entry to exit with cards, capital, and spend management that scale with you.

How do you cash out Brex? ›

Admins of existing Brex card accounts can apply for Brex Cash right from the dashboard by following the steps below. Step 1: Select Cash in your Brex dashboard. Step 2: Click Apply now to begin the application. Step 3: Complete the application and our identity verification by uploading a government-issued photo ID.

How do I get my money from Brex? ›

You can receive money via ACH, domestic wire transfer, international wire transfer, and checks. You're currently not able to receive credit card payments or to request a payment via invoice. Was this article helpful?

How many people use Brex? ›

Today, Brex has more than 10,000 customers ranging from small venture-backed startups and traditional SMBs to large growth-stage businesses using both Brex Cash and the Brex Card.

Why is Brex worth so much? ›

Here's the short answer. Brex has been able to attract tens of thousands of startups, as well as SMBs, in a short amount of time. That put them on the map for investors and made it easy for them to get huge amounts of money at high valuations.

Is Brex a unicorn? ›

If you've worked or traveled to San Francisco, you've seen the billboards and advertising. For those outside of the financial services industry and startups, Brex is possibly an unknown as a company — confused with Brexit (the withdrawal of the UK from the EU).

What Bureau does Brex pull from? ›

We partner with Experian, Dun & Bradstreet, and Equifax to report your company's payment history to one or more credit reporting agencies (Section 2.5, Platform Agreement). This means you can build your business credit history simply by using your Brex card and making timely payments.

Is Brex considered a credit card? ›

All Brex cards are credit cards. We report your payment history on these cards to business credit bureaus, so Brex Cards can help you build business credit. Payment is typically due for daily statements card balances every day. However, funds aren't immediately withdrawn whenever you transact.

What is the credit limit on Brex? ›

You can receive a credit limit of up to 20% of your external bank's cash balance or up to 30% of your Brex Cash balance. These percentages are subject to change dependent on Brex's determination of risk. Credit limits are calculated in part by Brex's ongoing account-specific determination of risk.

Does Brex pull your personal credit? ›

No personal guarantee needed – Brex does not ask for a personal credit check or security deposit during the application. Credit limits 10-20x higher than traditional small business corporate cards.

What kind of credit card is Brex? ›

The Brex Card is a charge card—meaning it must be paid off in full every 30 days, so it's not a fit for a business looking to carry a balance. Payments will be automatically debited from your company's bank account. Cardholders also have the option to pay their balance each day in order to earn increased rewards.

Who are the competitors of Brex? ›

Top 10 Alternatives to Brex
  • TripActions.
  • Airbase.
  • Ramp.
  • Divvy.
  • Expensify.
  • Pleo.
  • Spendesk.
  • SAP Concur.

Which bank is better mercury or Brex? ›

Brex is the better option for businesses that want easy access to funds since it offers business credit cards with 10 to 20 times higher limits than typical corporate credit cards. You want rewards on card spending: Mercury doesn't reward debit card spending.

What is Brex positive pay? ›

Positive pay is offered at many financial institutions. This allows you to prevent unwanted ACH debits by authorizing only certain counterparties to pull funds from your account. To "whitelist" a counterparty, you'll typically need an ACH ID.

What are Brex fees? ›

Brex Cash has no monthly fees, transaction fees (including for ACH and wire transfers) and no minimum balance requirements. The account includes access to the rewards-earning Brex credit card, built-in expense management tools and the Brex mobile app.

Is Brex cash safe? ›

Yes, Brex is safe. As a member of the Securities Investor Protection Corporation (SIPC), any funds invested in securities are insured up to $500,000. Any uninvested funds you deposit in your Brex Cash account are insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.

Does Brex affect credit? ›

Applying for Brex won't impact your personal credit score in any way.

Does Zelle work with Brex? ›

Cash App and Zelle aren't yet supported for Brex card transactions or as connected funding sources. If you're interested in using these apps to make transfers or purchases on your Brex card in the future, please share your ideas in the Early access tab of your Brex dashboard.

How do I transfer money from Brex to my bank account? ›

From the Brex dashboard

Step 1: Under Cash, click Transactions. Step 2: Click Add funds and select Bank transfer. Step 3: Choose the account you'd like to transfer funds from and click Next. Step 4: Enter the amount you'd like to transfer and the date you want the transfer to begin processing.

Will Brex go public? ›

Brex, the corporate credit card startup valued by venture capitalists at more than $12 billion, doesn't plan to go public "anytime soon," co-CEO Henrique Dubugras said Wednesday during an Axios Pro Insights event. "I think we would only consider [going public] in a good market.

Is Brex credit card a Visa or Mastercard? ›

Highlights. Brex Mastercard® issued by Emigrant Bank, Member FDIC.

Which credit bureau does AMEX use? ›

American Express uses all three major credit bureaus (TransUnion, Equifax and Experian) in order to assess your creditworthiness. Credit reports, however, don't differ that much from bureau to bureau. So, there's a huge overlap between the contents of each major credit report.

Which credit bureau is used the most by banks? ›

Although Experian is the largest credit bureau in the U.S., TransUnion and Equifax are widely considered to be just as accurate and important. When it comes to credit scores, however, there is a clear winner: FICO® Score is used in 90% of lending decisions.

What is the highest limit credit card you can get? ›

On our list, the card with the highest reported limit is the Chase Sapphire Preferred® Card, which some say offers a $100,000 limit. We've also seen an advertised maximum credit limit of $100,000 on the First Tech Odyssey Rewards™ World Elite Mastercard®, a credit union rewards card.

What is the highest credit one limit? ›

Credit One Bank® Platinum X5 Visa®: $500

Applicants with high incomes and excellent credit will generally get the highest Credit One credit limits.

What is the highest credit limit ever given? ›

Highest “Overall” Credit Limit: $500,000

The winners of the nosebleed award for the highest credit limit among cards for mere mortals are these twins: Chase Sapphire Preferred® Card and Chase Sapphire Reserve®, with annual fees in the mid-triple digits and high-double digits, respectively.

What bank does Brex partner with? ›

JPMorgan Chase Bank, N.A. Member FDIC. Lake Forest Bank & Trust Company, N.A., Member FDIC. LendingClub Bank, N.A., Member FDIC. Merchants Bank of Indiana, Member FDIC.

Does pulling your credit hurt you? ›

Good news: Credit scores aren't impacted by checking your own credit reports or credit scores. In fact, regularly checking your credit reports and credit scores is an important way to ensure your personal and account information is correct, and may help detect signs of potential identity theft.

Does it hurt your credit score to take out a personal loan? ›

And much like with any other loan, mortgage, or credit card application, applying for a personal loan can cause a slight dip in your credit score. This is because lenders will run a hard inquiry on your credit, and every time a hard inquiry is pulled, it shows up on your credit report and your score drops a bit.

Is Brex a real bank? ›

Brex Cash is not a bank account; it is a cash management account offered by Brex Treasury (a FINRA-registered broker-dealer) that functions very much like a business bank account.

Is Brex going to go public? ›

Brex, the corporate credit card startup valued by venture capitalists at more than $12 billion, doesn't plan to go public "anytime soon," co-CEO Henrique Dubugras said Wednesday during an Axios Pro Insights event. "I think we would only consider [going public] in a good market.

What is Brex credit limit? ›

Your Brex card limit is directly related to the balance held in your Brex Cash account—up to 30% of your Brex Cash balance if you are approved for a Brex card with monthly payments, or up to 100% of your balance if you are using Brex Cash with daily payments.

Can I buy crypto with Brex? ›

Will Brex support other cryptocurrencies? The cryptocurrencies available are offered and fulfilled by our partner, TravelBank, and the cryptocurrency exchange platform they work with, Coinbase.

What is the most trustworthy bank in America? ›

The Lifestory Research 2022 America's Most Trusted® Bank Study found Chase the most trusted bank. The America's Most Trusted® Study is a large-scale survey of consumers in the United States that seeks to identify the brands that people trust the most within their respective industries.

What bank has the highest customer satisfaction? ›

PNC, TD Bank, JPMorgan Chase, and U.S. Bank followed, while Citibank, Bank of America, Truist, and Wells Fargo received scores below the industry average of 652 points.
Customer satisfaction with largest retail banks in the United States in 2021.
CharacteristicCustomer rating on a scale from 0 to 1,000
8 more rows
30 May 2022

What is the safest bank to bank with? ›

The Safest Banks in the U.S.
  • Wells Fargo.
  • JPMorgan Chase.
  • U.S. Bank.
  • PNC Bank.
  • Citibank.
  • Capital One.
  • M&T Bank Corporation.
  • AgriBank.
9 Oct 2022


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Introduction: My name is Fr. Dewey Fisher, I am a powerful, open, faithful, combative, spotless, faithful, fair person who loves writing and wants to share my knowledge and understanding with you.