{"id":114098,"date":"2025-09-04T13:52:08","date_gmt":"2025-09-04T13:52:08","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/114098\/"},"modified":"2025-09-04T13:52:08","modified_gmt":"2025-09-04T13:52:08","slug":"brex-expands-corporate-card-business-to-eu-and-uk","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/114098\/","title":{"rendered":"Brex Expands Corporate Card Business to EU and UK"},"content":{"rendered":"

Corporate card company Brex<\/a> is reportedly expanding in Europe as it prepares to go public.<\/p>\n

The company obtained a license that lets it serve businesses in Europe and plans to roll out its offering there and in the United Kingdom, the Financial Times reported<\/a> Thursday (Sept. 4).<\/p>\n

CEO Pedro Franceschi<\/a> said in the report that the expansion gives Brex access to a market worth up to as much as $5 billion per year in added revenue.<\/p>\n

\u201cBusiness in Europe didn\u2019t really have a good solution before; it was Barclays<\/a> in some areas, but not really a modern solution,\u201d Franceschi said, per the report.<\/p>\n

Brex, which offers corporate cards and expense management to companies that include Arm<\/a>, Wiz<\/a> and Anthropic<\/a>, hopes to compete with players that dominate the multitrillion-dollar corporate card market, such as American Express<\/a>, according to the report.<\/p>\n

It also competes with Ramp<\/a>, which became a $22.5 billion company<\/a> in July following a $500 million funding round.<\/p>\n

Brex was one of the fastest-growing FinTech startups during the venture capital boom, valued at $2.3 billion in 2022, the report said. The company saw its momentum flag when higher interest rates began to crimp startup funding.<\/p>\n

Brex has been involved in an aggressive turnaround effort in the last two years, described by one investor as \u201ca torturous journey\u201d that involved \u201crepositioning the company, firing a bunch of people, getting people back in the office and shedding the excess from 2020\/2021,\u201d per the report.<\/p>\n

Now, the company is on the verge of making more than it spends for the first time, according to the report.<\/p>\n

\u201cIt\u2019s going to happen in the next two quarters, at this point it\u2019s sort of inevitable,\u201d Franceschi said, per the report.<\/p>\n

In January, Brex secured a $235 million credit facility<\/a> provided by senior lender Citi<\/a> and participating lender TPG Angelo Gordon<\/a>.<\/p>\n

Corporate credit cards stand out as the preferred choice for 52% of small- to medium-sized businesses (SMBs) that are seeking alternative financing, according to the PYMNTS Intelligence report \u201cOne-Quarter of SMBs Plan to Increase Corporate Card Usage This Year<\/a>.\u201d<\/p>\n

Nearly 92% of the surveyed businesses said they went with corporate cards as a working capital tool because of the ability to cover predictable expenses, while nearly 80% mentioned using business cards to address unexpected expenses.<\/p>\n

For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Corporate card company Brex is reportedly expanding in Europe as it prepares to go public. The company obtained…\n","protected":false},"author":2,"featured_media":114099,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[13392,13393,54976,54977,4034,54978,59,57,58,10028,50,5292,56,54,55,6242,13397],"class_list":["post-114098","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-kingdom","tag-b2b","tag-b2b-payments","tag-brex","tag-corporate-cards","tag-eu","tag-expense-management","tag-gb","tag-great-britain","tag-greatbritain","tag-ipos","tag-news","tag-pymnts-news","tag-uk","tag-united-kingdom","tag-unitedkingdom","tag-whats-hot","tag-whats-hot-in-b2b"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/114098","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=114098"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/114098\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/114099"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=114098"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=114098"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=114098"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}