Brex acquires Pr...
Brex Acquires Pry
Today, we have exciting news to share: Brex has acquired Pry Financials! Pry is a financial planning platform that essentially replaces Excel for founders, helping them plan and manage budgets, create hiring plans, build financial models, predict cash runway, and more.
It has always been our mission to reimagine financial systems so every growing company can realize their full potential. And serving founders has always been at the core of Brex, so we’re thrilled to bring Pry to all our customers.
We first heard about Pry from Brex customers and founders. Each and every one raved about how impactful Pry has been to their business and how it helped simplify the management of their finances. As we got to know the Pry team, it became very clear that we shared a deep commitment to serving founders, with the goal of helping them achieve their full potential. It also resonated with Henrique and me as founders ourselves. When first building out Brex back in 2018, we weren’t (and still aren’t) CFOs by any means. We knew we wanted to hire and expand the team beyond myself and Henrique, but we weren’t able to easily understand how hiring would impact our cash flow. Needless to say, it was hard.
With Pry, founders can directly connect their company’s bank accounts or integrate with QuickBooks or Xero to immediately get an overview of their startups’ cash flow, burn rate and runway, track critical financial metrics, create a forward-looking financial plan, and model different future outcomes.
Pry even helps customers successfully raise their next round of funding and navigate an exit — and Pry used their own product and tools to share their financials with the Brex team and ultimately work through this acquisition! The experience was incredibly transparent and easy so we knew right then and there that this product is a game-changer.
Our vision is to scale Pry so founders and finance teams reliably manage expenses and planning in Pry, and then seamlessly deploy budgets and spending workflows in Brex, all within the same product experience.
Over the next few months, we’ll be migrating Pry onto the Brex Empower platform, which we announced last week. The addition of Pry to Empower will provide startups with a better tool to manage their burn rate and runway, make strategic decisions, and plan for the future.
Henrique and I could not be more thrilled to have Andy Su and the rest of the Pry team join us here at Brex. Our values align very deeply, and we are excited to add such important capabilities to our platform.