Brex Raises New Funding Valuation Soars At $2.6B!

: June 11, 2019

Brex Has Secured A New $100M in Funding, Valuation Jumps to $2.6B From It's Previous $1.1B!

 

 

Brex, a fintech startup, rebuilding B2B financial products, starting with a corporate credit card for technology companies. The company has just secured a $100M in a "Series C" round of funding with a valuation of a staggering $2.6B. The funding was led by Kleiner Perkins, along with it's existing investors Y Combinator Continuity, Ribbit Capital, DST Global, Greenoaks Capital and IVP.

 

Brex was last valued at a $1.1B on Oct 2018, in it's $125M fundraising event led by Greenoaks Capital and DST Global. Which made them the world's fastest startup ever, to gain the "unicorn" status. The company now has a total of a $282.1M in funding to date.

 

Brex was was founded in Jan 3, 2017 by Henrique Dubugras and Pedro Franceschi, two engineers who previously founded Pagar.me, one of the largest payment processors in Brazil with over $1.5 billion in GMV. Brex helps startups of all sizes (from recently incorporated to later-stage companies) to instantly get a credit card that has 20x higher limits, completely automates expense management, kills receipt tracking and magically integrates with their accounting systems.