San Francisco based credit card provider for startups has raised $125m in Series C financing led by Greenoaks and DST Global. 50% of startups coming out of YCombinator are Brex customers.
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Brex Has Amassed A Valuation Of $1.1 Billion In Under Two Years
Brex, the provider of a credit card for startups, has raised $125 million in venture funding, propelling the company into unicorn status with a $1.1 billion valuation. Earlier Friday the San Francisco-based startup announced it closed a $125 million Series C round of funding with Greenoaks Capital and DST Global leading the investment round. This comes on the heels of $50 million raised in June. Since changing course a little more than a year-and-a-half ago, Brex has been able to amass a valuation of more than $1 billion, which cofounder and Chief Executive Henrique Dubugras credits to the market it is going after, its customer base of startups and its adeptness with technology, something he said the traditional credit card companies can’t match.
