Brex and the Corporate Financing Market

Brex and the Corporate Financing Market

Graphic: Evgeny Atamanenko / Shutterstock

Brex, the self-proclaimed “Smartest card in the Room”, has recently raised another $100M of capital, only 6 months after its last round of $125M. Notably, in the last 6 months, the San Francisco-based firm has risen from a fresh unicorn ($1.1bn valuation) to much more established firm with $2.6bn valuation. Brex primarily targets the business credit card market, well-establishing itself among other fintechs.

Using Cyndx Finder, we wanted to know who the other players are in this market, and who are the leading investors funding this growing industry.

We ran a Finder company search on Brex and found 499 companies in the same market.


Screen Shot 2019-06-12 at 3.21.31 PM.png



Looking at the most active investors, we can see 3 main investors have invested heavily into this industry.

  1. Y Combinator, with 17 investments in 15 companies in the cohort
  2. 83North, with 19 investments in 3 companies
  3. Lightspeed Venture Partners, with 17 investments in 5 companies

As you can see, Y Combinator, who typically invests in early stage and disruptive startups, has invested in 15 companies; indicating the rise of this growing market. Moreover, what 83North and Lightspeed Venture Partners investment history shows is that once backed by one of these firms, the VC is likely to re-invest (if the company is still suitable and on an upward trajectory).


Looking at the most similar companies, you can see a range of geographies across the 499 companies. The 3 most similar companies are

  1. Divvy, a US-based company, that focuses on managing business subscriptions and eliminating expense reporting
  2. Happay, an AI-powered expense management software
  3. Fiskl, a SaaS platform for SME finance management.

Among these three companies, the oldest is Fiskl, founded in 2014. To date, Fiskl has raised $1.38M over two rounds (most recent Sept. 2018)

Similarly, Happay has raised a total of $18.57M, with its latest round in Feb 2018, and Divvy has raised $302.5M with its most recent debt financing in Jan 2019.


Reach out to us here to try it out for yourself and see what you can uncover using Cyndx Finder.



Leave a Reply

Your email address will not be published. Required fields are marked *

New Whitepaper

An Efficient Way to Find Relevant Investments Quickly

Download Projected to Raise to learn about Cyndx's proprietary model for identifying which companies will raise capital within the next six months, with 86% precision.