🏆 Deal of the Week · CW 17/2021
Brex raised USD 425 million in a Series D round in 2021, reaching a valuation of USD 7.4 billion. The round drew participation from a broad syndicate of prominent growth and crossover investors including Tiger Global, TCV, and GIC, among others.
Brex — key deal facts
| Company | Brex |
| Founded | 2017 |
| Headquarters | San Francisco, United States |
| Amount raised | USD 425M |
| Valuation | USD 7,4 Billion |
| Round | Series D |
| Investors | Tiger Global TCV GIC Baillie Gifford Madrone Capital Partners Durable Capital Partners LP Valiant Capital Management Base10 Y Combinator Continuity Ribbit Capital DST Global Greenoaks Capital Lone Pine Capital IVP |
| Sectors | FinTech |
Who invested in Brex?
The Series D was backed by Tiger Global, TCV, GIC, Baillie Gifford, Madrone Capital Partners, Durable Capital Partners LP, Valiant Capital Management, Base10, Y Combinator Continuity, Ribbit Capital, DST Global, Greenoaks Capital, Lone Pine Capital, and IVP. The investor mix is notable for combining early-stage fintech specialists such as Ribbit Capital and Y Combinator Continuity with large crossover and institutional investors including sovereign-linked GIC and long-only fund Baillie Gifford. This breadth signals conviction across both venture and public-market investor categories at the growth stage.
What does Brex do?
Brex is an AI-powered financial platform headquartered in San Francisco, California, founded in 2017 by Brazilian entrepreneurs Henrique Dubugras and Pedro Franceschi. The company initially launched a corporate credit card for startups in 2018, underwriting credit limits based on company cash flow rather than personal credit scores. It has since expanded into a comprehensive suite that includes business accounts, expense management, travel, and bill pay. Brex serves over 35,000 companies ranging from early-stage startups to large enterprises.
Brex valuation & multiples
No existing multiples analysis was provided for this deal. For context on how fintech platforms at comparable scale are valued on a revenue or earnings basis, readers can consult the relevant FinTech sector multiples pages on DealMatrix.
Explore the benchmarks: Series D.
Frequently asked questions
How much did Brex raise in its Series D?
Brex raised USD 425 million in its Series D funding round in 2021.
What is Brex's valuation?
Brex was valued at USD 7.4 billion at the time of its Series D round.
Who invested in Brex?
The Series D investors include Tiger Global, TCV, GIC, Baillie Gifford, Madrone Capital Partners, Durable Capital Partners LP, Valiant Capital Management, Base10, Y Combinator Continuity, Ribbit Capital, DST Global, Greenoaks Capital, Lone Pine Capital, and IVP.
When was Brex founded and where is it based?
Brex was founded in 2017 and is headquartered in San Francisco, California, United States.
Source: original announcement — read the full report.