Overview
Brex is a financial software platform founded in January 2017 by Henrique Dubugras (CEO, born São Paulo 1995) and Pedro Franceschi (Co-CEO, born Rio de Janeiro), who met via Twitter argument in 2012 and previously co-founded Pagar.me (“Stripe of Brazil”). A Y Combinator W17 company, Brex raised over $1.2B at peak $12.3B valuation before announcing acquisition by Capital One for $5.15 billion in January 2026 (pending regulatory approval).
Highlights
- Founder story: Met via Twitter argument, built “Stripe of Brazil” as teenagers
- Pagar.me background: Successful payments company providing fintech expertise
- Real-time underwriting innovation: Business data instead of personal credit, up to 10x higher limits
- Brex Empower: Financial software platform for enterprise spend management
- Strategic pivot: June 2022 exit from SMB market to focus on enterprise
- Capital One acquisition: $5.15B deal (January 2026) pending regulatory approval
- “Built for founders, by founders” origin: Evolved to “empower employees” enterprise positioning
- Use cases: Corporate cards, expense management, travel, bill pay for enterprises
Founded
January 2017. Founded by Henrique Dubugras (CEO) and Pedro Franceschi (Co-CEO), co-founders of Pagar.me (“Stripe of Brazil”).
Headquarters
San Francisco, California (Y Combinator W17).
Ownership and funding
Acquired Pry Financials. Announced acquisition by Capital One for $5.15B (January 2026, pending regulatory approval). Total funding over $1.2B at peak $12.3B valuation.
Core technology
Brex Empower financial software platform. Real-time underwriting using business data instead of personal credit. Credit limits up to 10x higher than traditional banks.
Market position
Pivoted from startups to enterprise focus (June 2022); exited the SMB market.
Product philosophy
“Built for founders, by founders”, empower employees to make better financial decisions.