How Brex, the fintech unicorn, made its young founders very wealthy
Henrique Dubugras, 23, and Pedro Franceschi, 22, are (you guessed it…) Stanford dropouts
Henrique Dubugras and Pedro Franceschi have a net worth of $460 million each. They founded Brex, a fintech startup in 2017.
Brex provides credit cards to startups and their employees. The Brex startup card operates on real time data rather than traditional credit scores. It has 20x higher limits, automates expense management, eliminates receipt tracking and integrates with their accounting systems.
In its latest funding round, Brex has been valued at over $2 billion. That’s a huge leap from its valuation of $25 million in 2017.
It’s one of the fastest companies ever to secure a multi-billion valuation tag.
Brex advertises itself as the smartest credit card in the room. Apart from the card for startups, Brex also offers cards to life science and ecommerce companies.
Brex counts the co-founders of PayPal (Max Levchin and Peter Thiel), Y Combinator, Ribbit Capital, Yuri Milner, and Carl Pascarella (former CEO of Visa) amongst its backers.
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