Brex Launches Brex Venture Debt to Help Existing Customers Scale
SAN FRANCISCO--(BUSINESS WIRE)--Aug 25, 2021--
U.S. fintech company Brex, the all-in-one finance solution for growing businesses, today launched Brex Venture Debt, a new product that gives select customers access to debt financing.
Brex already offers credit cards, cash management accounts, spend management, and bill pay software together in a single dashboard for its customer base of high-growth businesses. With the addition of Brex Venture Debt, the company is further building on its promise of offering financial solutions for customers at every stage of growth.
“Our mission has always been to support growing businesses, and as our customers have grown quickly, so have our offerings,” said Henrique Dubugras, co-founder and CEO of Brex. “Our venture debt solution was created with scale in mind, so that we can help founders take their business to the next level while minimizing dilution.”
Brex Venture Debt differs from traditional bank offerings by providing customers with longer terms and a faster diligence process. Brex Venture Debt will be offered to certain customers with scalable, recurring revenue in high growth sectors including software-as-a-service, consumer, and fintech. Brex’s movement into the venture debt market, a key product need for growing businesses, is one of many new products the company is launching in response to customer needs.
“Brex Venture Debt will help power our growth,” said Roberto Ortiz, co-founder and CEO of virtual events platform Welcome, one of the product’s first customers. “Brex’s offering is far more tailored to the needs of growing companies than what existed previously in the market.”
Brex launched in 2018 by offering the first-of-its-kind corporate card specifically designed to help startups, which historically had trouble accessing corporate credit cards from industry incumbents. Brex has continued to aggressively scale by providing customers with software that enables faster onboarding times, seamless integration, faster settlement speeds, access to tailored products and solutions, and real-time visibility across all their data and money flows. Brex’s customer base includes tens of thousands of companies across the United States.
Brex is a powerful financial stack designed to serve the next generation of growing businesses. By integrating software, services, and products into one experience, we help customers effortlessly extend the power of every dollar, so they’re free to focus on big dreams and fast growth—without worrying about wasted spend. We proudly serve tens of thousands of businesses, from small private companies to many of America’s most beloved public brands. Learn more at brex.com.
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CONTACT: Devon Spurgeon
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: SOFTWARE BANKING MOBILE/WIRELESS NETWORKS INTERNET PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY SMALL BUSINESS OTHER PROFESSIONAL SERVICES FINANCE OTHER TECHNOLOGY
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