Brex
Brex is an AI-native spend management platform offering corporate cards, expense management, travel, bill pay, and business banking to over 35,000 startups, mid-market companies, and enterprises globally, now operating as a wholly owned subsidiary of Capital One following its April 2026 acquisition.
- Company typePrivate
- Founded2017
- HeadquartersSan Francisco, United States
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Brex does
Brex is a financial services and technology company that provides a unified AI-native spend management platform combining corporate cards, expense management, travel booking, bill pay, business banking, and accounting automation. Founded in 2017 and headquartered at 270 Brannan St. in San Francisco, Brex serves over 35,000 companies — including approximately one in three US venture-backed startups, mid-market companies, and global enterprises such as OpenAI, Anthropic, Scale AI, DoorDash, TikTok, Canva, Plaid, and the Boston Celtics — operating across five countries and eight offices with a team of more than 1,200 employees.
The core product portfolio is built around an intelligent finance platform that processes approximately $51 billion in policy-enforced customer spend annually. Underlying technology includes AI-driven anomaly detection, large language model-based memo and policy Q&A, OCR for receipt matching in any language or currency, generative AI for GL coding and merchant mapping, process automation across ERP/HRIS integrations (NetSuite, QuickBooks, Sage Intacct, 40+ HRIS systems), and autonomous agents used internally for engineering and fraud auditing. Notable technical components include a runtime-agnostic AI workflow architecture that improved agent completion rates from 96% to 99.9% and the open-source CrabTrap proxy that uses an LLM-as-a-judge for AI agent network-traffic policy enforcement. The platform issues Mastercard and Visa commercial cards through partner banks (Emigrant, Fifth Third, Airwallex, Sutton) without a processing intermediary, supports local currency cards in 50+ countries, and embeds into partner workflows via BrexPay for Navan and Brex for Tekion Spend.
Brex monetizes through interchange fees on card transactions, a $12/user/month Premium subscription (with a free Essentials tier and custom Enterprise pricing), and treasury yield spread on customer deposits held at Brex Treasury LLC (up to 3.68%). Distribution combines product-led self-serve signup, enterprise field sales, embedded partner channels, and — following Capital One's April 2026 acquisition of Brex for $5.15 billion — banking-channel distribution through Capital One. Brex LLC operates as a wholly owned subsidiary of Capital One, N.A., with co-founder Pedro Franceschi remaining as CEO. The company holds SOC 1 Type I, SOC 2 Type II, ISO 27001, and PCI DSS certifications and was recognized as a Leader in the 2025 IDC MarketScape for AI-Enabled T&E Applications across small business, midmarket, and enterprise segments.
Brex firmographics
Firmographics- Name
- Brex
- Legal name
- Brex LLC
- Website
- https://brex.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Acquired
- Headcount range
- 1–10 employees
- Short description
- Brex is an AI-native spend management platform offering corporate cards, expense management, travel, bill pay, and business banking to over 35,000 startups, mid-market companies, and enterprises globally, now operating as a wholly owned subsidiary of Capital One following its April 2026 acquisition.
- Ownership category
- akta.pro rank
Brex industry classification
Industry- Product category
- Corporate Spend Management Software
- NAICS
- Credit Card Issuing (522210), Credit Card Issuing (52221), Activities Related to Credit Intermediation (5223), Credit Intermediation and Related Activities (522)
- SIC
- Miscellaneous Business Credit Institution (6159), Finance Services (6199)
- akta.pro primary industry
- Commercial & Corporate Card Schemes (FSAMAAAF)
- akta.pro secondary industries
- Travel Payments & Virtual Cards for Corporate Travel (THALAMAJ), Accounts Payable Automation & Invoice Payments for Travel Suppliers (THACAJAI), Payment Reconciliation, ERP/AP Integration & Data Enrichment (Level 2/3, eReceipts) (THACAJAE)
Keywords
Where Brex is headquartered
LocationHeadquarters
- HQ city
- San Francisco
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Brex business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- Interchange Fees: Primary revenue stream from card transactions. Brex issues its own corporate cards and earns interchange fees on every transaction.
- Subscription Revenue: Premium tier at $12/user/month for advanced features. Enterprise custom pricing.
- Treasury Yield Spread: Brex Treasury LLC (Capital One company) earns yield on customer deposits in money market funds. Customers earn up to 3.68% while Brex generates spread revenue.
- Freemium to Paid Conversion: Free Essentials tier attracts startups; conversion to Premium ($12/user/month) and Enterprise tiers drives subscription revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Freemium | Monthly | Essentials - Free tier for startups and growing companies |
| Subscription | Monthly | Premium - $12 per user per month for mid-sized companies |
| Subscription | Annual | Enterprise - Custom pricing for global enterprises |
| Subscription | Annual | Smart Card - Custom pricing for procurement simplification |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
Brex product offering
Product offeringCore offering
Brex provides a unified AI-native spend management platform that combines corporate cards, expense management, travel booking, bill pay, and business banking into a single integrated system. The company issues corporate credit and charge cards on Mastercard and Visa networks with credit limits based on business financials rather than personal guarantees, and offers an AI-powered expense and accounting automation layer with built-in policy enforcement, real-time budget controls, and ERP/HRIS integrations across 120+ countries.
Product overview
Brex is a unified spend management platform combining corporate cards, expense management, travel booking, bill pay, and business banking into one AI-powered system. The core portfolio includes Corporate Cards (physical and virtual cards with up to 7x rewards), Spend Management (AI-powered expense automation), Travel & Expense Management, Bill Pay (automated invoice processing), and Business Banking (treasury with up to 3.68% yield). Supporting platforms include Accounting Automation (ERP integration with NetSuite, QuickBooks, Sage Intacct), Intelligent Finance (AI-native platform using ML and LLMs), and embedded solutions like BrexPay for Navan and Brex for Tekion. The company serves startups, mid-size companies, and enterprises through tiered pricing plans (Essentials at $0/user/month, Premium at $12/user/month, Enterprise with custom pricing). Brex operates in 120+ countries with local currency support in 50+ countries.
Differentiator
Problem solved
Functional benefit
Brands
- Brex for Tekion: Embedded corporate card and spend management solution integrated into Tekion's Automotive Retail Cloud platform for automotive dealer groups.
- BrexPay for Navan
Products and services
- Corporate Cards Physical and virtual corporate credit and charge cards accepted in 210+ countries with built-in spend controls, rewards up to 7x back, and credit limits underwritten on business financials rather than personal credit scores. Targeted at startups, mid-market, and enterprise customers.
- Spend Management (Expense Management)
Quantifiable outcome
- Companies routinely process expenses 9x faster
- +7 more outcomes
Companies that use Brex
Customer profileNamed customers12 records
Segments4 records
Ideal customer profiles4 records
Brex technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
AI capability10 records
Feature5 records
Brex partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- TekioncoreBrex for Tekion Spend embeds physical and virtual cards inside Tekion's Automotive Retail Cloud platform. Addresses operational complexity for dealer groups replacing paper checks and legacy card programs with real-time reconciliation and instant card issuance.
- Pry FinancialscoreAcquired for $90 million to integrate Pry's financial planning platform (cash flow tracking, burn rate analysis, financial modeling) into Brex's ecosystem. Enhanced Brex's capabilities in providing efficient financial management tools for founders.
- NavancoreBrexPay for Navan partnership embeds Brex cards directly into Navan's travel management software, achieving 100% automated travel payment reconciliation. Deeply integrated global payment product solving enterprise travel management pain points.
- Vouch InsuranceminorPartnership offering insurance products integrated with Brex's financial platform for startups.
- MastercardcoreBrex issues cards on Mastercard network. Sole full-stack fintech in US that doesn't use a processing intermediary. Cards accepted in 210+ countries.
- Column N.A. (Bank)coreColumn N.A. provides checking account (commercial checking account) for Brex business accounts. Part of Capital One ecosystem post-acquisition.
- Emigrant Bank, Fifth Third Bank, Airwallex (Netherlands), Sutton BankcoreCard issuers for Brex Mastercard and Visa commercial cards. Cards issued by unaffiliated institutions pursuant to licenses.
Scale indicators8 records
Recent moves9 records
Expansion highlights7 records
Brex competitors and assessment
Company assessmentDirect peers
- Ramp: Closest direct competitor offering corporate cards, expense management, bill pay, and AI-driven finance automation for startups and mid-market. Competes head-to-head for the same PLG-driven customer base and similar interchange-funded model.
- Navan (formerly TripActions): Corporate travel and expense management platform with integrated payments; partners with Brex via BrexPay for Navan but is also a competitor in T&E management and increasingly corporate cards for enterprise travel programs.
- Expensify: Expense management platform with corporate cards (Expensify Card) serving small and mid-market. Direct competitor in AI-driven expense automation, receipt scanning, and policy enforcement.
- Mercury: Business banking platform for startups offering treasury, ACH/wires, and a growing corporate card product. Competes directly with Brex for the venture-backed startup segment and on yield/treasury services.
- BILL Holdings: Bill pay and spend management platform serving SMB and mid-market via AP automation and corporate cards (Divvy). Competes with Brex on bill pay, expense management, and embedded corporate cards.
Broad incumbents
- American Express: Established commercial card issuer (Corporate Card, Business Platinum) serving enterprises globally. Competes directly in corporate cards and spend management with deep brand, rewards, and balance-sheet advantages.
- SAP Concur: Incumbent enterprise travel and expense management platform with deep ERP integration. Competes in T&E automation and policy enforcement, particularly with large enterprises where Concur is the default standard.
- Chase (JPMorgan Chase): Major US bank with large commercial card and business banking franchises. Competes in corporate cards, treasury, and spend management, and is Brex's parent Capital One's primary bank competitor post-acquisition.
- Citi: Global commercial bank and existing Brex credit facility partner. Competes in commercial cards and treasury services for multinational corporates while also financing Brex's card growth.
Others
- Plaid: Financial data connectivity and banking infrastructure provider. Customer of Brex and adjacent fintech enabler; comparable as a leading US fintech ecosystem participant rather than a direct competitor in corporate cards.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks5 records
Key highlights7 records
Customer concentration
Brex social profiles
Digital presenceBrex compliance and trust
Trust signalCompliance4 records
Brex financial estimates
Financial estimateRevenue estimate
Valuation estimate
Brex leadership team
Management profileNumber of profiles
Profiles1 record
Brex funding detail
Funding detailFunding overview
Funding rounds14 records
Investors49 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Brex M&A and investment
M&A and investmentM&A6 records
Investments4 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Brex
What does Brex do?
Brex provides a unified AI-native spend management platform that combines corporate cards, expense management, travel booking, bill pay, and business banking into a single integrated system. The company issues corporate credit and charge cards on Mastercard and Visa networks with credit limits based on business financials rather than personal guarantees, and offers an AI-powered expense and accounting automation layer with built-in policy enforcement, real-time budget controls, and ERP/HRIS integrations across 120+ countries.
Is Brex a public or private company?
Brex is a private company. It is classified as corporate owned and is currently acquired.
When was Brex founded?
Brex was founded in 2017. It employs 1 to 10 people.
Where is Brex based?
Brex is headquartered in San Francisco, United States, in the North America region.
How does Brex make money?
Four revenue lines are on record. Interchange Fees are the primary driver. The others are subscription Revenue, treasury Yield Spread and freemium to Paid Conversion.
Who are Brex's main competitors?
Direct peers on record are Ramp, Navan (formerly TripActions), Expensify, Mercury and BILL Holdings. Broad incumbents are American Express, SAP Concur, Chase (JPMorgan Chase) and Citi. Plaid is listed as an others.
Does Brex have an API?
Yes. Brex offers a public API that enables developers to build custom tools and workflows. The API provides access to Brex's financial data and services, including expense management, corporate cards, and accounting integrations. Developer documentation is at developer.brex.com.
What industry is Brex in?
Brex's product category is Corporate Spend Management Software. Its primary akta.pro industry code is FSAMAAAF, Commercial & Corporate Card Schemes, with a secondary code of THALAMAJ, Travel Payments & Virtual Cards for Corporate Travel. Its NAICS code is 522210 and its SIC code is 6159.