SAN FRANCISCO–(BUSINESS WIRE)–Brex,
the first corporate card for startups, today unveiled a first-of-its
kind credit card specially designed to help ecommerce businesses grow.
The first corporate card for ecommerce enables online brands and
retailers to bypass the problems of legacy banking systems and delivers
a product that is fast, has far greater functionality and is much
simpler to manage than any other credit card in the marketplace.
“Legacy card companies view businesses as a monolith and create products
that are expected to serve all of them,” said Henrique Dubugras,
Co-Founder and CEO of Brex. “Brex sees the world differently. Startups
are not like other businesses, and neither are ecommerce companies. Now
the latter, too, can benefit from Brex.”
Just as Brex reimagined corporate cards for the technology startup
market, Brex is now bringing the same ingenuity to ecommerce customers.
The Brex ecommerce card offers an open line of credit with 60 day
payment terms and interest-free financing, thereby providing the
benefits of float typically associated with working capital loans, yet
with the convenience of the Mastercard network and without foreign
Brex ecommerce customers can now enjoy all the benefits of Brex
including instant online underwriting without personal guarantees,
transparent statements and expense management as they use their credit
card to purchase inventory, ads, software and other services they need
to run their businesses. Brex ecommerce customers will also benefit from
unique rewards including exclusive partnerships focused on ecommerce
tools and solutions that are directly relevant and benefit their
Brex spent the last six months working with a select group of online
brands including Boxed, Amour Vert, Hims, Bev and Reese Witherspoon’s
Draper James to perfect its offering.
“We’re very excited about the addition of the Brex Card to our
assortment of payments tools. From the application to expense
management, the entire experience has been seamless and superb,” said
Chieh Huang, CEO of Boxed, the online shopping club.
For startups, Brex delivers corporate cards quickly, easily, and with
higher limits than traditional corporate cards, instantly and with no
personal guarantee. Founded in 2017 by the founders of Brazilian
payments processor Pagar.me, Brex is backed by Y Combinator Continuity,
Ribbit Capital, Greenoaks, DST Global, Peter Thiel and Max Levchin and
has raised a total of $215M in funding. Brex participated in the Y
Combinator Winter ’17 batch. The company’s headquarters are in San
Francisco. For more information, visit www.brex.com.
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