Brex secures USD 150 mln in Series C extension

Wednesday 20 May 2020 14:09 CET | News

US-based fintech Brex has raised USD 150 million in a Series C extension from a group of existing investors, including DST Global and Lone Pine Capital.

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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Keywords: Brex, US, fintech, DST Global, Lone Pine Capital, credit cards, startups, Neji, Compose Labs, Landria, ecommerce, Brex Cash
Categories: Banking & Fintech
Countries: United States
This article is part of category

Banking & Fintech