Leading AI-powered spend platform joins list
for fourth consecutive year
SAN
FRANCISCO, May 14, 2024 /PRNewswire/ -- Brex, the
AI-powered spend platform for modern companies, today announced it
has earned the No. 4 ranking on the 2024 CNBC Disruptor 50
list.
The annual CNBC Disruptor 50 list highlights private companies
using breakthrough technology to meet increasing economic and
consumer challenges. In the past year, Brex's spend management
solutions have maximized the financial performance of its tens of
thousands of customers, including over 100 public companies and
one-third of startups in the U.S.*
"From our roots as a corporate card for startups, we've grown
Brex to become a global leader in spend management by redefining
the way companies manage their finances – saving customers around
the world hundreds of millions of dollars and millions of hours
annually on spend management," said Pedro
Franceschi, Co-Founder and Co-CEO of Brex. "We're honored to
be recognized by the CNBC Disruptor 50 for the fourth consecutive
year, a testament to the work of our team to revolutionize
financial management for global enterprises and startups
alike."
The past year marked several significant milestones for Brex. In
2023, the company expanded its platform for customers of all sizes
by launching an integrated global travel solution, an AI-powered
employee expense assistant, and an accounts payables solution. Brex
simultaneously expanded its customer base, now ranging from
high-growth startups to enterprises like DoorDash, Indeed,
Coinbase, and major sports enterprises like the Boston
Celtics.
Amid the Silicon Valley Bank (SVB) collapse in 2023, Brex
established itself on the frontlines to support the thousands of
affected companies, taking in 4,000 customers and $2 billion in deposits, and establishing a
$1 billion emergency fund within 48
hours to help impacted customers make payroll. More than 90% of the
customers that signed up during the week of the SVB collapse are
still active Brex customers with over one third using Brex Business
Accounts.
To learn more about Brex, visit Brex.com.
* Market share of customers activated on Brex out of all
US-headquartered startups with <50 employees and have raised a
professionally invested round in the last 8 quarters.
About Brex
Brex is the AI-powered spend platform. We
transform finance teams from reactive no-sayers to proactive growth
drivers. With Brex, companies spend with confidence by empowering
employees to make smarter financial decisions from anywhere. Brex
provides corporate cards, business accounts, and global payments,
plus intuitive software for travel and expenses, that make it easy
to plan and track all company spend in one place, in real time.
Tens of thousands of companies from startups to global enterprises
— including DoorDash, Flexport, and Compass — use Brex to
proactively control spend, reduce costs, and increase efficiency on
a global scale.
Media Contact:
press@brex.com
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SOURCE Brex