The Brex corporate card co-founder explains how the company got to a $2.5 billion valuation
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There are a handful of options to choose from on the market for corporate credit cards. But the co-founders of Brex wanted to provide tech startups and e-commerce companies a card that no other issuer was offering. On this round-table episode of the Talking Points, the co-CEO and co-founder, Henrique Dubugras, and the head of Brex partnerships and rewards, Thomas Piani, explain what sets the Brex corporate card apart; their latest product, Brex Cash; and how they’ve built a company worth over $2.5 billion.
“We understand that startups, commerce, restaurants, and hotels are very different businesses and have very different needs. And we have this mission to get rid of personal guarantees.” – Henrique Dubugras, co-CEO and co-founder, Brex
Host Brian Kelly shares his skepticism around whether or not the card holds up against popular cards like the The Business Platinum® Card from American Express or the Capital One® Spark® Miles for Business, as well as Brex’s strategy behind the card’s generous bonus categories. Brex card holders also have access to seven airline partners. TPG finds out which carrier they tend to use the most and why Brex introduced a physical lounge right from the start.
“If you’re a founder, you can go between two [venture capital] meetings or entertain a potential investor or a candidate in a space other than your office, which you know, for having seen at Brex, Brex’s first offices [were] sometimes less glamorous than you would want it to be. That was the initial idea.”
Brex is unconventional in many aspects, and if you live in NYC you might have noticed their unusual marketing tactics — something Dubugras also explains on the podcast.
Aren’t subway ads the best? #fyreyourcorporatecard pic.twitter.com/QQwmDeGJVL
— Pat Cines (@patrickcines) March 13, 2019
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