Science Exchange, a technology platform that is used by research organizations to order and manage outsourced R&D services, announced a strategic partnership with U.S. fintech, Brex. According to Science Exchange, the new partnership will see Brex offer biotech incentives. While sharing more details about the partnership, Elizabeth Iorns, PhD, CEO & Co-Founder of Science Exchange, stated:
“We are excited to help increase our clients’ buying power by offering them access to the Brex for Life Science Card.”
Orion Despo, Head of Growth and GM Life Sciences at Brex, also commented:
“With Science Exchange, we will continue to explore ways to jointly serve our clients through integration of new payment technologies. Combining Science Exchange’s project tracking capabilities with the Brex platform’s automated expense management, life science entrepreneurs can spend less time on audit trails and more time on research.”
The partnership with the Science Exchange comes right after Brex secured $100 million through its latest investment round, which was led by Kleiner Perkins Digital Growth Fund. The funds from the investment round will be used to bolster Brex’s product, which is the only corporate payments solution that can be customized for specific business verticals.
To date, Brex has raised $315 million in equity financing from Y Combinator Continuity, Kleiner Perkins Digital Growth Fund, Ribbit Capital, Greenoaks Capital, DST Global, IVP, Peter Thiel, and Max Levchin.