Brex

Introducing Summer Release ‘24, where powerful meets simple. Discover AI-powered accounting with continuous close, a simplified card control center, bill pay that makes you money, blazing-fast UI, and 100+ more improvements. https://bit.ly/4aMxPMc

Bold visions create the best products. At Brex, we’re redefining finance – because the status quo just isn’t good enough. Most finance teams today are drowning in financial busywork, with not enough time to focus on driving growth. That’s not how finance should work. So we’re building a better way that cuts through the AI hype and applies AI-powered automation where it can securely and transparently reduce your team’s financial busywork and empower your employees to make better financial decisions worldwide. Here are just a few ways that we deploy AI across our spend management platform to free up your employees, managers, and finance team:  ⏰ Automated expense reports: AI performs expense tasks for employees, including receipt generation and extraction, memo drafting, smart attendee addition, and calendar matching 🔎 Automated approvals and anomaly detection: AI agents approve in-policy expenses and flag the exceptions and anomalies for you, so managers can focus on their day jobs. 🏛 Automated accounting workflows: AI- and LLM-powered automation understand the context of every transaction and encode it to the right GL for you. As a result, we’ve eliminated over *11 million hours* of busywork for customers to date, giving them more time to focus on growth and innovation – far more valuable than filing receipts. Learn more about how we leverage AI safely to lighten your load on a Monday morning :)

So thrilled to announce Brex’s 2024 brand campaign featuring our new brand promise, “Make every dollar count”. This campaign will be focused on showing how we help financial leaders boost their control, earnings, and speed with real numbers and data. And with over 25k customers using Brex, the numbers are impressive 😯 You’ll see placements begin to roll out in NYC and San Francisco - you won’t be able to miss them in all their orange glory! Massive shoutout to the teams and individuals who made this possible! More to come! 🍊🧡💸

⚡️️ If you’re a founder looking to get your pitch deck in front of VCs, we’ll be sharing insights to help you prepare. DocSend and Brex are teaming up for a live webinar on how to concisely pitch your business on June 26th at 1:30pm EST. We’ll be presenting the latest data on deck-viewing trends and diving into how founders can take advantage of these insights to capture the attention of VCs quickly. Let's take your pitch to new heights! 🚀 🗓️ June 26th @ 1:30pm EST ✅ Register: https://lnkd.in/g8ip8-YV

Embracing Flexibility and Learning from Failure in Marketing | The Demand Gen Fix | Episode 52 Join us as we welcome Matt Torman, content marketing principal at Brex, to discuss the inherent uncertainties of marketing, the benefits of taking creative risks and the power of pivoting strategies. Embracing Flexibility: Understand that nothing is set in stone. There's always room to pivot quickly and adapt. Accepting Failures: Great marketing involves some risk and frequent small failures—which are normal and expected. Celebrating Wins: Even small successes, like a decent email open rate, can significantly impact your business. Tune in to Episode 52 to hear more about the ups and downs of marketing, creative risk taking and learn why every setback is a setup for a potential breakthrough: https://lnkd.in/g2fyXEr2 #TheDemandGenFix #MarketingStrategy #BusinessGrowth #DemandGen

Why reconcile 100s of items end-of-month when you can achieve a continuous close? After switching to Brex, Medicinal Genomics started automating expense data flow into NetSuite, closing the books in real time. Read here: https://bit.ly/4cwMDQK

You can’t be everywhere, but your expense policy can. And that’s good news for accountants. AI can auto-enforce rules, auto-generate receipts and memos, learn your policies, and dynamically suggest accounting rules. Get a look here: https://bit.ly/4cvIHQ8

Brex is one of my favorite fintechs. Ever wonder what their journey from $0 to over $300M in revenue within 7 years looked like? 2017-2018: The Birth of Brex • Henrique Dubugras and Pedro Franceschi, both 22-year-old Stanford dropouts, decided to flip the fintech world on its head by launching Brex, a corporate credit card tailored for startups. • With their co-CEO model (which has become popular), they doubled their management bandwidth. Internal & external duties? No problem when you have twice the number of CEOs to lead folks 2019-2020: Rapid growth • Brex quickly partnered with big names like DoorDash, Flexport, and Roblox. • In 2019, they secured $300 million in funding, catapulting their valuation to $2.6 billion. It’s amazing what you can achieve when you’re swimming in a pool of investor cash. 2021-2022: Diversification and challenges • Brex expanded its product suite to include expense management, bill pay, & travel booking services. If you’re going to burn through cash, you might as well make it convenient. • Despite their success, they faced some “minor” hiccups. Layoffs in 2022 were a delightful reminder that even fintech unicorns aren’t immune to cutting costs by cutting people. 2023: Strategic shifts • Transitioning to a single CEO model, Pedro took the helm while Henrique became chairman. Having two brains was slowing things down? • They continued to innovate, integrating AI into their platform. By the end of 2023, Brex hit over $300 million in revenue, proving that even with all the chaos, they were still making bank. 2024: Path to profitability • With a goal of being cash-flow positive by 2025, Brex halved its cash burn by chopping 20% of its staff and focused on sustainable growth. Making money instead of burning it is always a sound strategy. • Serving 30K+ customers globally, Brex’s commitment to transparency & customer-centric solutions has kept them in the game. They’re not just participating – they’re rewriting the rules. Want to copy their homework? 1. Identify a significant pain point in an industry and create a solution that addresses it. Please don't start a business without doing this. 2. Utilize a strong co-founder dynamic to maximize efficiency & divide responsibilities effectively. Two heads are better than one, until they aren’t. 3. Secure early partnerships with influential companies to build credibility and a customer base. It’s always about who you know. 4. Listen to your customers. & Expand your product offerings to meet their evolving needs. 5. Maintain a strong focus on transparency & trust to build a loyal customer base. People surprisingly prefer not being lied to. 6. Strategically manage growth, and make tough decisions like layoffs when necessary to ensure long-term sustainability. 7. If you want to go public, be profitable. Did I miss anything?

Founders and finance teams often have to decide between controlling spend or driving company growth. Join us July 10th for a webinar with our team that demonstrates how in using Brex— you can do both! Register here: https://bit.ly/4cs1gEz