Brex
Brex is a financial services and technology company that offers credit cards and cash management services to tech companies. Founded in 2017 by Henrique Dubugras and Pedro Franceschi.
Brex’s compliance head has left the fintech startup to join Andreessen Horowitz as a partner
Ali Rathod-Papier has stepped down from her role as global head of compliance at corporate card expense management startup Brex to join venture firm Andreessen Horowitz (a16z) as a partner…
Welcome to TechCrunch Fintech! This week, we’re looking at layoffs at BaaS startup Unit and car insurance company Loop, as well as Brex’s decision to abandon its co-CEO model, Apple…
Fintech Brex abandons co-CEO model, talks IPO, cash burn and plans for a secondary sale
Since fintech startup Brex’s inception in 2017, its two co-founders Henrique Dubugras and Pedro Franceschi have run the company as co-CEOs. But starting today, the pair told TechCrunch in an…
Ex-Brex exec Sam Blond is already leaving Founders Fund just 18 months after he joined
Sam Blond is leaving Founders Fund, as well as the profession of venture capitalist, just 18 months after he joined the storied Silicon Valley firm. In a tweet on Monday,…
Welcome to TechCrunch Fintech (formerly The Interchange)! In this edition, I’m going to look at Brex’s latest round of layoffs, the state of fintech investing in 2023 and more! I…
Brex cuts 20% of staff amid reports of stalled growth, high burn
Expense management startup Brex, which was valued at $12.3 billion two years ago, laid off 282 people, or about 20% of its staff today. The once high-flying fintech startup sent…
Welcome back to The Interchange, where we take a look at the hottest fintech news of the previous week. If you want to receive The Interchange directly in your inbox every…
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Ramp taps AI as fintech hunts for growth
Ramp and Brex have been vocal about how they believe AI will transform the way they operate and serve their customers.
Brex expands into group events while Mesh Payments moves into travel
As the spend management space continues to get more competitive, the various players seem to be constantly iterating to add new features to their products. Today, fintech startup Brex announced…
As spend management space heats up, Brex and Rho turn to AI startups to help power new products
The competition in the spend management space continues to intensify. Brex and Rho today each announced AI-powered/enabled accounts payables offerings. Their announcements coincidentally came out the same day competitor Ramp…
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Brex refocuses on startups with hire of SVB veteran, ex-a16z operating partner
Just over one year ago, spend management decacorn Brex declared that it was “less suited to meet the needs of smaller customers” in an announcement that caused shock waves in the startup community. While Brex soon clarified that by smaller customers it meant small to medium-sized businesses and non-funded startups,…
Welcome back to The Interchange! If you want this in your inbox, sign up here. While there is always a lot going on in the world of fintech, this week felt…
Fintech startup Brex was among the bidders for SVB’s early-stage and growth portfolios
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site,…
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site,…
In yet another example of how competitive the spend management space has become, Brex announced today that it has expanded into travel. Besides seeking to snag market share from incumbents…
Brex CEO is trying to raise over $1B in a weekend for SVB-related bridge loans
Update on Sunday, March 12, 2023: The Federal Reserve announced that Silicon Valley Bank’s depositors will be fully protected and that cash will be accessible starting Monday for both the…
FTX’s failure could be a stress test for corporate credit card startups
Startups serving startups feels a bit riskier in a post-FTX cryptocurrency era. Here’s how Ramp, Brex and Rain are thinking.
Unit’s banking-as-a-service platform is getting into the charge card game
If the banking-as-a-service fintech Unit does its job right, it will be ubiquitous among businesses and simultaneously have a name unknown to the end user. The company gives companies a…
Brex is acting more and more like a venture capitalist over time
Brex has been steadily increasing its partnerships with startup aggregators over time, such as Y Combinator and AngelList. Today, as per its latest announcement, it inked a new deal with…
Brex co-founder Henrique Dubugras details decisions behind pivots, layoffs, going remote
Brex co-founder Henrique Dubugras and early investor Anu Hariharan discussed the fintech’s eventful year at TechCrunch Disrupt.
The CFOs from OpenSea, Brex and Noom are changing teams. Here’s what that says about executive turnover in the high-growth startup world.
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Brex, valued at $12.3B earlier this year, lays off 11% of staff as part of restructuring
Corporate spend management startup Brex has laid off 136 people, or 11% of its staff, across all departments as part of a restructuring, the company has told TechCrunch exclusively. After the layoffs, Brex has just over 1,150 employees. It’s been a tumultuous year for Brex, which announced in April that…
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Brex’s departing CRO explains his decision to join Founders Fund
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our site, sign up here so you can receive it directly in the future. Every week, I’ll take a look at…
ModernLoop aims to automate the process of scheduling job candidate interviews
With the economic turbulence, recruiting is slowing down. Layoffs.fyi, a crowdsourced tech startup layoffs tracker, shows that 60 companies executed layoffs within the past month or so, with over 16,000…
Audience Choice: Vote for the roundtable sessions you want to see most at Disrupt
Ever hear a great idea that’s so obvious — like wheels on luggage, for example — that you can’t help but wonder why someone didn’t think of it sooner? Welcome…
Fintech investors appear to be favoring later-stage deals as sector takes a hit, recent data shows
Welcome to The Interchange! If you received this in your inbox, thank you for signing up and your vote of confidence. If you’re reading this as a post on our…
Hello and welcome back to Equity, TechCrunch’s venture capital-focused podcast, where we unpack the numbers behind the headlines. Today Natasha and Alex were on the mics, kicking back and riffing through…
Brex says it did a ‘poor job’ explaining its decision to cut off SMBs
Brex’s announcement last week that it would stop serving small-to-medium-sized businesses shocked — and upset — many in its suddenness and delivery. The fintech decacorn, which started its life as…
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Selling to startups is not the same as selling to SMBs
Brex’s recent decision to exit part of the SMB market was big news. In this context, we want to talk about just what an SMB is and how not all small accounts are the same.
Brex CEO Henrique Dubugras will share his company’s founding story at TechCrunch Disrupt
Henrique Dubugras, founder and co-CEO of Brex, will join Anu Hariharan, the managing director and partner at Y Combinator, for a fireside chat at TechCrunch Disrupt on October 18-20 in…
