San Francisco based Brex, the all-in-one finance solution provider for growing businesses, has raised $425 million in Series D funding round, doubling its valuation to more than $7.4 billion in less than a year.
Led by Tiger Global, the Series D funding round was joined by new investors such as GIC, Baillie Gifford, TCV, Durable Capital Partners, Madrone Capital Partners, Valiant Capital Management, and Base10 Partners, and also witnessed participation from the company’s existing investors Y Combinator Continuity Fund, DST Global, Ribbit Capital, Greenoaks Capital, Lone Pine Capital, and IVP.
Founded in 2017 by Henrique Dubugras and Pedro Franceschi, Brex entered the payments space with the rollout of a corporate card for venture backed businesses. The company currently offers an all-in-one finance platform that enables small and medium-sized businesses as well as larger organisations to manage their finances. The latest funding will fuel the company’s rapid growth as it continues to build an all-in-one financial solution for all businesses.