US Fintech Unicorn Brex Introduces Venture Debt, a Product Providing Access to Debt Financing

US-based Fintech Unicorn Brex, the all-in-one or comprehensive finance solution for growing businesses, has introduced Brex Venture Debt, a newly-developed product that gives certain clients access to debt financing.

Brex currently provides credit cards, cash management accounts, spend management, and bill pay software together via a single, intuitive dashboard for its client base of high-growth firms. With the addition of Brex Venture Debt, the firm is “further building on its promise of offering financial solutions for customers at every stage of growth,” according to a release.

Henrique Dubugras, co-founder and CEO at Brex, stated:

“Our mission has always been to support growing businesses, and as our customers have grown quickly, so have our offerings. Our venture debt solution was created with scale in mind, so that we can help founders take their business to the next level while minimizing dilution.”

Brex Venture Debt is different from conventional bank offerings by providing clients with “longer terms” and a quicker diligence process. Brex Venture Debt will be available to certain clients with scalable, recurring revenue in “high growth” sectors such as software-as-a-service (SaaS), consumer, and Fintech.

Brex’s movement into the venture debt market, an important product requirement for growing firms, is “one of many new products the company is launching in response to customer needs,” the announcement noted.

Roberto Ortiz, co-founder and CEO of virtual events platform Welcome, one of the product’s first customers, remarked:

“Brex Venture Debt will help power our growth. Brex’s offering is far more tailored to the needs of growing companies than what existed previously in the market.”

Brex launched in 2018 by providing corporate cards “specifically designed to help startups, which historically had trouble accessing corporate credit cards from industry incumbents.”

Brex has been focusing on scaling its operations by offering clients with software that “enables faster onboarding times, seamless integration, faster settlement speeds, access to tailored products and solutions, and real-time visibility across all their data and money flows.”

Brex’s client base reportedly includes “tens of thousands” of firms across the US.

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