U.S. fintech Brex announced on Wednesday the opening of its new office in Vancouver. The company reported that the location is its first-ever international office and will staff around 40 employees. The initial focus of the location will be software engineering and customer experience functions.
As previously reported, Brex is seeking to help startups of all sizes to instantly get a credit card that claims to have twenty times higher limits, completely automates expense management, kills receipt tracking and integrates with accounting systems.
Brex also revealed that it chose Vancouver because the city has both a “deep pool of local talent” and has long been a magnet for a global workforce with a diversity of skills and experiences. Speaking about the new office, Henrique Dubugras, Co-Founder and Co-CEO of Brex, stated:
“The phenomenal growth of Vancouver’s technology industry and its embrace of skilled immigrants are inextricably linked. Brex’s growth and the global diversity of its workforce share a similar connection. We’re thrilled to announce our new office in a location that is so rich in global talent.”
Cosmin Nicolaescu, VP of Engineering at Brex and executive sponsor for the Vancouver office, concluded:
“Brex benefits from a broad range of perspectives stemming from our internationally diverse workforce of immigrants as well as American- and Canadian-born nationals. Technology, and payments specifically, are by their nature global industries, so Brex products and services are improved by our team’s multitude of experiences, connections and context.”
The launch of the new office comes just a few months after Brex secured $200 million through its latest debt capital raise. The company has raised $315 million in equity financing from Y Combinator Continuity, Ribbit Capital, Greenoaks Capital, DST Global, IVP, Peter Thiel and Max Levchin, and $300 million in debt capital from Barclays Investment Bank and Credit Suisse.