The company, not to be confused with Divvy Homes or Divvy Bikes, has raised an additional 200 million in venture. TechCrunch reached out to Brex, curious about its 2020 and Q1 2021 growth results. Today, that’s Divvy, a tech-enabled replacement of monthly expense reports. Airbase, in contrast, charges for its software. Draft the Purchase Agreement (PA) - draft the PA and send to for comment. Divvy's Home Buying Team will review the offer and call you - expect a call from a 1-833 number.
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Far from its roots in merely offering perk-laden corporate cards to growing companies, Brex and its myriad rivals - including Utah unicorn Divvy, Airbase and others - are building software suites around their core plastic efforts to help companies manage all elements of their spending.Ī growing rift is showing in how, compared to some rivals, the categories’ largest players, including Brex, Divvy and Ramp, forgo charging for their software, content to eat off other revenue sources including interchange. Select your client's name and choose 'Initiate Offer'. The duelling rounds raised by Brex and Ramp underscore how active their product category is proving to be. According to Crunchbase data, Brex’s mid-2020 Series C valued the company at just over $3.0bn, including the investment’s $150m in issued equity.
The new capital marks Brex’s largest fundraise to date, and was compiled at a valuation that is more than double its most recent private valuation. By using software that ties directly to your business credit card you can completely eliminate these cumbersome processes, saving you time and money. Mere weeks after rival corporate spend startup Ramp announced that it raised a two-part round worth $115m at a $1.6bn valuation, this morning Brex disclosed a $425m funding led by Tiger Global.
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