Brex Co-founders and Co-CEO’s Henrique Dubugras and Pedro Franceschi. Photo courtesy of Brex.
Brex, a fintech that provides corporate cards and cash management for startups, has raised $150 million from an investment group that includes Lone Pine Capital as well as existing investors led by DST.
The funding will be used across engineering, product and design teams to improve expense management, procurement and software tooling for customers, according to a press release.
“We’re glad to have additional capital at a time when customers need us to be focused 100% on providing services and solutions to help them navigate these challenging economic times,” Henrique Dubugras, co-founder and co-CEO at Brex, said in the release.
The company plans to use organic means and small acquisitions to boost hiring and product development.