Brex — a financial tech company that helps ambitious companies scale — has announced a $200 million debt capital raise to help continue the rapid expansion of Brex’s e-commerce product. This capital is in the form of a warehouse line of credit from Credit Suisse, which is backed by Brex’s corporate charge card receivables.
This is considered Brex’s second warehouse line of credit and its first was a $100 million debt facility announced with Barclays Investment Bank in April 2019.
Brex is continuing to enhance its risk and financial operational talent with recent hires including head of credit Mira Srinivasan from American Express’s commercial card underwriting team, VP of Cash Erica Dorfman from Tally’s finance and capital markets department, and VP of payments Marco Mahrus from Uber’s payments team. And Brex has complemented these hires with investment into its payments and capital markets technology, which is highlighted by its Fall 2019 partnership with Mastercard.
Read more here: https://pulse2.com/brex-200-million-debt-capital/