Fintech startup Brex went from 0 to a valuation of $1 billion in less than two years. It is a fascinating company, and so is Brex’s co-founder and CEO Henrique Dubugras. He’s coming to TechCrunch Disrupt SF to tell us more about the company’s explosive growth.
Brex started with a corporate card for startups. Compared to legacy corporate cards, there are a ton of benefits. First, it’s easy to sign up to Brex, as the company doesn’t require any personal guarantee or security deposit.
Second, you instantly get a virtual card that you can use for online subscriptions and other online purchases. After a few days, you receive a good-old plastic card that you can use anywhere around the world — there’s no foreign transaction fees.
And it’s not just about a better on-boarding experience. Brex is a great way to access credit as the credit limit is around 10 times higher than the credit limit of traditional corporate cards. At the end of the month, all expenses are consolidated.
Given that Brex attended Y Combinator and is a good product for startups, it became an instant hit in Silicon Valley. More recently, the company created cards for other verticals, such as life sciences companies and e-commerce companies.
And the company raised a new funding round last week — Brex is now valued at $2.6 billion.
This isn’t Henrique Dubugras’ first startup. Originally from Brazil, Dubugras created payment company Pagar.me when he was just 16. He sold the company after reaching $1.5 billion in transaction volume.
He then enrolled at Stanford University, but didn’t stay long. He left school after eight months to found Brex. And I’m quite curious to hear how he knew for sure that it was the right decision when Brex was still just an idea.
Buy your ticket to Disrupt SF to listen to this discussion and many others. The conference will take place on October 2-4.
In addition to panels and fireside chats, like this one, new startups will participate in the Startup Battlefield to win the highly coveted Battlefield cup.