Brex, a San Francisco, CA – based financial service and technology company, raised a $425m Series D funding.
The round, which valued the company at over $7.4 billion, was led by Tiger Global with participation from new investors TCV, GIC, Baillie Gifford, Madrone Capital Partners, Durable Capital Partners LP, Valiant Capital Management and Base10, and existing major investors Y Combinator Continuity, Ribbit Capital, DST Global, Greenoaks Capital, Lone Pine Capital and IVP.
The company intends to use the funds to continue to expand operations and its business reach.
Founded by Brazilians Henrique Dubugras and Pedro Franceschi in 2017, Brex provides a corporate card for venture backed businesses and an all-in-one platform for small and medium sized businesses (SMBs) and larger organizations to manage their finances via a combination of payment and cash management services, expense management and bill pay software
The company now onboards thousands of new tech and non-tech customers every month.