Brex
#24 on Setter30 +5 Most recent: Q3 2023Brex is an AI-native corporate spending platform providing intelligent finance solutions including corporate cards, expense management automation, banking, travel, and bill pay services for fast-growing companies. The platform helps businesses issue corporate cards, automate expense management and make secure, real-time payments.
Acquired
Brex has been acquired
This company is no longer available on our private secondary market.
Overview
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2017
Employees
1,800+
Total Funding
$1.67B
11 rounds
Latest Valuation
$12.3B
Jan 1, 2022
Secondary Signals
2 signalsCapital One to acquire Brex in $5.15B cash-and-stock deal; expected to close mid-2026.
Defines exit value at $5.15B; massive down round vs $12.3B last private mark.
PM Insights noted Brex traded with strong selling interest, valuation slid from $12B to $4B.
Pre-deal secondary marks discount priced; ~$4-5B was market view.
Setter30 Ranking
Funding
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $1.67B across 11 rounds
Last updated 06-25-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Jan 13, 2025 | Debt Financing | $235M | — | Citi |
| Jan 1, 2022 | Series D-2 | $300M | $12.3B | Greenoaks Capital |
| Apr 26, 2021 | Series D | $425M | $7.4B | Tiger Global Management |
Valuation Trajectory
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Entry · Pre-Seed
$500M
Jan 2017
Brex today
$12.3B
Jan 2022 · latest mark
Brex multiple
24.6x
valuation uplift since first round
Y-axis is logarithmic. Hollow dots = estimated valuations. Does not represent realized investor returns.
Leadership
Competitors
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Ramp
Corporate spend management platform with cards and expense automation for mid-market companies.
Mercury
Banking platform offering checking and savings accounts with FDIC insurance for tech startups.
Bill Spend & Expense (formerly Divvy)
Combined corporate cards and expense management platform with automated tracking and reconciliation.
Airbase
Unified spend management platform combining accounts payable, corporate cards, and expense management.
American Express
Traditional corporate card and payments provider with $50B annual revenue and $1.5T network volume.
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