Brex Raises $300M in Series D-2 Funding


Brex, a San Francisco, CA-based fintech company focused on growing businesses, raised an additional $300m in a Series D-2 funding.

The round was led by Greenoaks Capital and Technology Crossover Ventures (TCV).

The company intends to use the funds to expand its product portfolio.

Led by Henrique Dubugras, Brex is a financial stack designed to enable growing businesses to integrate software, services, and products into one experience to extend the power of every dollar, so they are free to focus on growth, without worrying about wasted spend. The company serves tens of thousands of businesses, from small private companies to public brands.

Brex also announced the appointment of Karandeep Anand as Chief Product Officer. Anand brings extensive product leadership experience to Brex, and most recently led Meta’s business products group, which served more than 200 million businesses globally. Prior to that, Anand spent 15 years at Microsoft, where he led the product management strategy for Microsoft’s Azure cloud and developer platform efforts. Anand will lead Brex’s product portfolio expansion efforts.

Since the company’s founding in 2017, Brex has raised a total of $1.2 billion from investors and is currently valued at $12.3 billion.