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.
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"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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Apply for Marriott Bonvoy Business® American Express® 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
| 6X | 6x points at hotels participating in the Marriott Bonvoy® program. |
| 4X | 4x points for purchases made at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping. |
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Intro Offer
Limited Time Offer: Earn 100,000 Bonus Marriott Bonvoy Points after spending $4,000 in purchases on your new Card in your first 3 months of Card Membership. Offer expires 11/2/22.Earn 100,000 points75,000 pointsAnnual Fee
$125Recommended 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
The Marriott Bonvoy Business Amex is a stacked card with a rewards rate that will help you earn bonus points on everyday and business-related purchases. You'll earn 15 elite night credits each calendar year, and receive automatic Gold elite status. Finally, the free night award certificate with a redemption level of 35,000 points or less can get you hundreds of dollars in potential value each year.Pros
- 6x points on eligible purchases at hotels participating in the Marriott Bonvoy program
- 4x points at restaurants worldwide, U.S. gas stations, wireless telephone services purchased directly from U.S. service providers and U.S. shipping
- 2x points on all other eligible purchases
- Earn a free-night award each card renewal month (up to 35,000 points)
- Receive 15 elite night credits to jump-start status
- Transfer Marriott points to 40+ airlines
Cons
- Airline points transfer ratios are poor
- Must spend $60,000 in a year for second free-night award
- Limited Time Offer: Earn 100,000 Bonus Marriott Bonvoy Points after spending $4,000 in purchases on your new Card in your first 3 months of Card Membership. Offer expires 11/2/22.
- 6x points at hotels participating in the Marriott Bonvoy® program.
- 4x points for purchases made at restaurants worldwide, at U.S. gas stations, on wireless telephone services purchased directly from U.S. service providers and on U.S. purchases for shipping.
- 2x points on all other eligible purchases.
- Receive a 7% discount off standard rates for reservations of standard guest rooms at hotels that participate in the Marriott Bonvoy program when you book directly. Terms and Conditions Apply.
- Receive 1 Free Night Award every year after your Card renewal month. Plus, earn an additional Free Night Award after you spend $60K in purchases on your Card in a calendar year. Awards can be used for one night (redemption level at or under 35,000 Marriott Bonvoy® points) at hotels participating in Marriott Bonvoy®. Certain hotels have resort fees.
- Enjoy Complimentary Marriott Bonvoy Gold Elite Status with your Card.
- Terms apply.
- See Rates & Fees