Brex adds new capabilities

Companies using Brex now have the ability to issue cards and locally fund reimbursements in over 20 currencies across 45 countries. While Mastercard is accepted worldwide for transacting, customers need to fund transactions and reimbursements through their local bank in each country to avoid unnecessary internal adjustments and cross-border transactions that come with funding everything from US accounts. Brex allows customers to fund easily from their local banks, while keeping track of spend and reporting transactions in local currency – making it easy to monitor spending and reconcile transactions.

In addition to spending and paying in local currencies, Brex is launching VAT tracking and multi-currency expense policies. These capabilities ensure customers remain tax-compliant locally in all countries by making it easy for employees to follow local tax regulations.

Brex's multi-currency billing and local expense management are available to customers through the Empower platform.

Brex’ latest developments

Brex expanded Brex Empower to serve employees from US-based companies in more than 100 countries across card, spend management, and reimbursements. Brex Empower – a new software platform designed to enable businesses to move fast by enabling a culture of trust and financial discipline – was introduced in April 2022 and will serve as the foundation for all Brex products moving forward.

In May 2022, Brex also announced Deel, the global payroll and compliance provider, as one of the first customers to use these global capabilities across their 7,500+ customers in more than 150 countries. Deel is also a partner, and Brex will integrate Deel into the Brex Empower platform to support international payroll, benefits, taxes, and compliance.

Most recently, Brex expanded into travel, with members of Empower being able to book travel inside the Brex mobile app. The new feature also works with all the budget and policies functions of Empower. Besides seeking to snag market share from incumbents such as Concur, Brex is also taking on startups such as Navan (formerly called TripActions) – which started its business focused on travel expense management before broadening its offering – and also Ramp, which itself expanded into travel in 2023 with a tool that gives employees the ability to book with third parties.