The company revealed that it is making a big push into financial software with the release of a new spend management product called Brex Empower. This move means Brex's revenue generation will be more diversified as it will now be making money off of interchange fees and recurring revenue from subscriptions to its software.
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Fintech Brex bets big on software, lands DoorDash as a customer
“We’re very focused on signing up net new large enterprise customers and DoorDash is the first of many, with lots to come,” Brex co-CEO and co-founder Henrique Dubugras said in an interview. “It’s extremely important to us. The reason that DoorDash bought our product is that the entire software suite is very powerful. They don’t see Brex as a card or financial services company but as both a financial services and strong software company.”
