Brex, a San Francisco, CA-based provider of a corporate card for startups, raised $125m in Series C funding.
The round – which brought total funding raised to date to $180M+ and the valuation to over $1 billion – was led by Greenoaks Capital, DST Global and others.
The company is using the funds to further invest in enhancing its features, including its rewards launch later this fall.
Led by Henrique Dubugras, CEO, Brex provides startups with a corporate card with instant online signup, limits higher than traditional card offerings and embedded expense and receipt management tools.
Founded in 2017 by the founders of Brazilian payments processor Pagar.me, Brex participated in the Y Combinator Winter’17 batch.
The card was publicly launched in June 2018.