Brex

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.

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

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

• Corporate cards
• Expense management
• Bill pay automation
• Business banking
• Travel management

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Interchange Fees: Primary revenue stream from card transactions. Brex issues its own corporate cards and earns interchange fees on every transaction.
2. Subscription Revenue: Premium tier at $12/user/month for advanced features. Enterprise custom pricing.
3. 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.
4. Freemium to Paid Conversion: Free Essentials tier attracts startups; conversion to Premium ($12/user/month) and Enterprise tiers drives subscription revenue.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core 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

Named customers12 records

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability10 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• TekioncoreStrategic or Co-development Partner · 16 June 2026Brex 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 FinancialscoreStrategic or Co-development Partner · 20 April 2022Acquired 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.
• NavancoreStrategic or Co-development PartnerBrexPay 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 InsuranceminorChannel Partner/ Reseller/ DistributorPartnership offering insurance products integrated with Brex's financial platform for startups.
• MastercardcoreTechnology or IntegrationBrex 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)coreTechnology or IntegrationColumn 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 BankcoreTechnology or IntegrationCard 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

Direct 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

• Xx.com/brexHQ
• YouTubeyoutube.com/@BrexHQ
• LinkedInlinkedin.com/company/brexhq
• Instagraminstagram.com/brexhq
• Facebookfacebook.com/BrexHQ

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds14 records

Investors49 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A6 records

Investments4 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Brex