U.S. fintech Brex announced on Tuesday it has introduced new features tailored to solving the cash flow pain points of growing e-commerce businesses. According to Brex, the launch of instant payouts and e-commerce-specific rewards alleviate growth barriers faced by e-commerce companies and furthers the company’s mission to “reimagine” financial systems so every company can realize its full potential.
“For a 1.5% fee, Brex Cash customers who are US-based sellers on Amazon can immediately access their sales revenue, obtaining their funds faster rather than waiting out the usual 14-day delay. Companies no longer need to have their sales payout cycles dictate the pace at which they can reinvest in their business.”
Henrique Dubugras, Brex co-CEO, shared details about the upgrades by stating:
“We built Brex to break down unnecessary barriers to growth. A big problem small business owners face is weak access to cash flow when they most need it. Companies that sell on big platforms like Amazon or Shopify can experience weeks or months delay between winning a sale and seeing the cash hit their bank account. Instant payouts shortens that cycle so that companies can focus on growing.”
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 is rebuilding B2B financial products, starting with a corporate credit card for technology companies. We help startups of all sizes (from recently incorporated to later-stage companies) to instantly get a credit card that has 20x higher limits, completely automates expense management, kills receipt tracking and magically integrates with their accounting systems.”
The upgrades were announced just a little over six months after Brex announced its acquired three startups to enhance its Brex Security, an e-commerce product and infrastructure. The three companies that Brex acquired are the following:
- Neji: A San Francisco-based startup that specializes in addressing the security and networking challenges of scaling distributed ledgers across hybrid-cloud and multi-cloud deployments
- Compose Labs: A San Francisco-based startup that powers next-generation video experiences, including the educational platform CommonLounge
- Landria: A San Francisco-based startup that organizes business SaaS tools into a single cohesive experience with unified search and navigation.