The Brex corporate card co-founder explains how the company got to a $2.5 billion valuation
Caroline Schagrin is the assistant producer for TPG's podcasts.
Nov. 06, 2019
•
2 min read
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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Editorial disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.
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- Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
- Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
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Apply for American Express® Gold Card
at American Express's secure site
Terms & restrictions apply. See rates & fees
TPG Editor‘s Rating
Go to reviewCard Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
Rewards Rate
| 4X | Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S. |
| 4X | Earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X). |
| 3X | Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com. |
Intro Offer
Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.60,000 bonus pointsAnnual Fee
$250Recommended Credit
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.670-850Excellent/Good
Why We Chose It
There's a lot to love about the Amex Gold card. It's been a fan favorite during the pandemic because of its fantastic rewards rate on restaurants (that includes takeout and delivery in the U.S.!) and U.S. supermarkets. If you're hitting the skies soon, you'll also earn bonus points on travel. Paired with up to $120 in Uber Cash (for U.S. Uber rides or Uber Eats orders) and up to $120 in annual dining statement credits at eligible partners, there's no reason that the foodie shouldn't add this card to their wallet. Enrollment required.Pros
- 4x on dining at restaurants and U.S. supermarkets (on the first $25,000 in purchases per calendar year; then 1x)
- 3x on flights booked directly with the airline or with Amex Travel
- Welcome bonus of 60,000 points after spending $4,000 in the first six months
Cons
- Weak on travel outside of flights and everyday spending bonus categories
- Not as useful for those living outside the U.S.
- Some may have trouble using Uber/food credits
- Few travel perks and protections
- Earn 60,000 Membership Rewards® points after you spend $4,000 on eligible purchases with your new Card within the first 6 months of Card Membership.
- Earn 4X Membership Rewards® Points at Restaurants, plus takeout and delivery in the U.S., and earn 4X Membership Rewards® points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1X).
- Earn 3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com.
- $120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year.
- $120 Dining Credit: Satisfy your cravings and earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack locations. Enrollment required.
- Choose the color that suits your style. Gold or Rose Gold.
- No Foreign Transaction Fees.
- Annual Fee is $250.
- Terms Apply.
- See Rates & Fees