February 25, 2024

The Catholic Transcript

Complete News World

Crude oil closes heavily, backed by declining U.S. cargo

Fintech Brex, developed by Brazilians in the United States, confirms an investment of US $ 300 million

Fintech Brex, founded by two Brazilians in Silicon Valley, confirmed its $ 300 million investment round this Tuesday, the 11th – with a check, the market value of the startup rises to US $ 12, 3 billion. This contribution was initially disclosed by the US website Tech Crunch In October.

The round was led by Greenox Capital and DCV. Since its inception in 2017, Brex has raised $ 1.2 billion.

In addition to the check, FinTech has announced the hiring of Karanteep Anand, a former meta, as production director.

In the United States, Brex offers credit cards to local start-ups. The difference in service is agility: the company guarantees a digital version of the card within five minutes of registration and a physical version within five days.

In addition, banks do not require guarantees such as income and personal property from Brex entrepreneurs, so they can access the corporate card. To assess risk, Brex evaluates a startup’s record record, cash flow, and expense, regardless of revenue.

However, now FinTech is at a new juncture: Brex customers are growing, and the adoption of this service is needed to serve medium and large companies – this is the new frontier of growth for startups.

The financial services market for startups is growing. In competition with Brex in the United States, Ramp announced a new $ 300 million round in August, raising its market value to $ 3.9 billion.

See also  Macron compares the 2nd round in France to the 2016 US election