Empowering life sciences with a tailored credit card product
Science drives innovation. You can thank most of the conveniences you enjoy every day to decades of research in a variety of scientific fields. And at Brex, our goal is to help entrepreneurs achieve their goals — whether that work happens in front of a laptop or in a laboratory.
That’s why we are very excited to announce that we are officially launching a new vertical: Brex for Life Sciences. We started with the goal of giving founders near-instant access to credit with a dynamic underwriting model. This allowed us to offer a line of credit within minutes of signing up and offer tailored rewards for them. We’ve done the same for ecommerce companies, and are really excited to now take all these learnings to empower researchers and entrepreneurs in life sciences.
We know life sciences is a different kind of business. Even well-funded companies may still be a long way away from generating revenue. But you still need access to a corporate credit card without a personal guarantee. Thanks to our underwriting technology, which we built from the ground up, we’re able to provide that.
Brex for Life Sciences is a card product that’s tailored specifically to the day-to-day needs of any life sciences company. Life sciences companies can follow the same steps as any other Brex customer to get instant approval for credit. We also offer specialized rewards, including:
- 3x rewards points on lab supplies
- 7x on conference tickets
- 4x on Brex Travel
- 1x on everything else
The points you earn are also uncapped. You’ll be able to take advantage of our rewards, whatever your needs are as a life sciences company. Whether you’re ordering precision-grade glass in high volume or traveling to conferences around the world, we want to ensure you’re getting the best experience. We’ve also partnered with the California Life Sciences Association (CLSA), the trade association representing California’s life sciences sector, to offer the new Brex card with exclusive rewards to CLSA members.
These tailored rewards come on top of all the other benefits you get with our Brex products.
- 24/7 support with wait times under 2 minutes
- Advanced fraud detection and zero liability
- Advanced expense management features and instant receipt capture
- Integrations with top accounting products like QuickBooks and Expensify
- Instant approval for qualified companies that can begin issuing virtual cards immediately
We’re excited to already be working with several life sciences companies, including Anthos Therapeutics and Synthego. [These companies focus on cures for cardiovascular disease, genome engineering, and more]. Like our tech and ecommerce products, our underwriting model looks at the health of a company — like their cash balance or sales — to provide a credit line instead of using a credit score.
Life sciences is Brex’s third vertical following the launch of our ecommerce product in February. You can be sure that this isn’t our last either as we work to empower companies around the world and provide them instant access to credit they need to continue driving innovation.
Brex is transforming B2B payments by creating financial products that are tailored to specific industries, like startups, ecommerce, and now life sciences. In 2018 Brex launched the first corporate card and rewards program specifically designed for startups. By rebuilding the credit card tech stack from the ground up, Brex is able to reimagine every aspect of corporate cards, including underwriting, transparency and approvals, to create a radically better experience for customers. Brex has raised $215M in funding and is backed by Y Combinator Continuity, Peter Thiel, Max Levchin and more. The company’s headquarters are in San Francisco.
We’re still early, and we welcome as much feedback as we can get. Also, we are hiring like crazy. Check out any openings we have!