Brex raises $150 mn investment led by Lone Pine Capital

Brex, a financial technology company, announced $150 million investment from Lone Pine Capital as well as a group of existing investors led by DST.
Brex management team
Brex is using the proceeds to invest across engineering and product and design functions in order to improve expense management, procurement and software tooling for its customers.

The company said it will use a combination of organic efforts as well as small acquisitions to supplement its hiring and product development efforts.

“We’re glad to have additional capital at a time when customers need us to be focused 100 percent on providing services and solutions to help them navigate these challenging economic times,” said Henrique Dubugras, co-founder and Co-CEO of Brex.

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