Financial planning software startup Pry raised USD 4.2 million in venture funding in 2021, in a seed round of funding. Investors include Y Combinator, Global Founders Capital, and Pioneer Fund, among others. The company’s software targets seed to Series B companies.
Originally, Brex was a startup focused on startups. Specifically, it provided corporate cards aimed mainly at startups and SMBs. Over time, Brex has gradually evolved its model with the aim of serving as a financial operating system for companies of all sizes.
Its acquisition of Pry is reflective of Brex’s commitment to early-stage startups, the demographic which was the company’s target customer in its own early days.
Pry’s software gives Brex the ability to directly connect the company’s bank accounts or integrate with QuickBooks or Xero to get an overview of their startups’ cash flow, burn rate and runway, track critical financial metrics, create a forward-looking financial plan, and model different future outcomes.
Brex has made a total of nine acquisitions, but the majority were acqui-hires. Its purchase of Pry, and last year’s USD 50 million buy of Israel startup Weav, were more aimed at acquiring the company’s technology and products.
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