With the new raise, Brex, which sells a credit card tailored for startups, has now amassed USD 465 million in venture capital funding to-date.
According to TechCrunch, Brex plans to use its new capital to invest across engineering, product, and design functions to improve its customer experience. It also plans to make small acquisitions to help with hiring and product goals. In late March 2020, the startup announced that it had acquired three companies, Neji, Compose Labs and Landria, for an undisclosed amount.
Months after its Series C in October 2019, the company launched its second product: a credit card for ecommerce companies. After its June 2019 raise, Brex launched a credit card for life sciences companies, and then a few months later, it announced Brex Cash, a product that acts like a checking account replacement for startups.
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