SAN FRANCISCO – (BUSINESS WIRE) – August 25, 2021–
American fintech company Brex, the all-in-one financing solution for growing businesses, today launched Brex Venture Debt, a new product that allows select clients to access debt financing.
Brex already offers credit cards, cash management accounts, expense management and bill payment software all in one dashboard for its high-growth corporate customer base. With the addition of Brex Venture Debt, the company strengthens its promise to offer financial solutions to clients at every stage of their growth.
âOur mission has always been to support growing businesses, and as our clients have grown rapidly, so have our offerings,â said Henrique Dubugras, co-founder and CEO of Brex. âOur venture capital debt solution was created with scale in mind, so we can help founders take their businesses to the next level while minimizing dilution. “
Brex Venture Debt differs from traditional banking offerings by offering clients longer terms and a faster due diligence process. Brex Venture Debt will be offered to select clients with scalable and recurring revenue in high growth industries including software as a service, consumer and fintech. The entry of Brex into the risky debt market, a key need for growing businesses, is one of many new products the company is launching in response to customer needs.
âBrex Venture Debt will help fuel our growth,â said Roberto Ortiz, co-founder and CEO of the Welcome virtual event platform, one of the product’s first customers. âThe Brex offer is much more suited to the needs of growing companies than what previously existed in the market.
Brex was launched in 2018 by offering the first corporate card of its kind specifically designed to help startups, which historically had difficulty accessing corporate credit cards from incumbents in the industry. Brex has continued to aggressively evolve by providing customers with software that enables faster onboarding times, seamless integration, faster settlement speeds, access to tailor-made products and solutions, and real-time visibility. on all their data and money streams. Brex’s customer base includes tens of thousands of businesses 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 a single experience, we help customers effortlessly extend the power of every dollar, so they are free to focus on big dreams and rapid growth, without worrying. unnecessary expenses. We are proud to serve tens of thousands of businesses, from small private businesses to many of America’s most beloved public brands. Learn more about brex.com.
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CONTACT: Devon Spurgeon
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: BANKING SOFTWARE MOBILE / WIRELESS NETWORKS INTERNET PROFESSIONAL SERVICES DATA MANAGEMENT TECHNOLOGY SMALL BUSINESS OTHER PROFESSIONAL SERVICES FINANCE OTHER TECHNOLOGY
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PUB: 08/25/2021 10 a.m. / DISC: 08/25/2021 10:01 a.m.
Copyright Business Wire 2021.