Brex takes cards and spend management global across 100+ countries.
Last month, we introduced Brex Empower to help fast-growing companies increase the speed of their business. Today we are excited to share that we’re extending Empower to serve employees from US-based companies across more than 100 countries with the same experience as those in the US. As immigrant founders ourselves, we’re excited to empower teams around the world with the same great experience across card, spend management, expense tracking, and reimbursements.
We’re also thrilled to announce Deel, the global payroll and compliance provider, as one of the first customers to use our global capabilities across their 7,500+ customers in more than 150 countries. They are not just a customer but also our newest partner, and we will be integrating Deel into the Brex Empower platform to support international payroll, benefits, taxes, and compliance.
“We chose to partner with Brex — as well as to use them for our own business — because of their commitment to global companies,” said Alex Bouaziz, CEO of Deel. “We love how they’re building their platform to make it easy for companies to hire internationally, spend globally, and operate faster everywhere. We’re excited to integrate into the Brex system to enable companies to instantly move funds for faster payroll.”
Why global?
We are seeing Brex customers become more global — over the past two years, they have significantly accelerated hiring outside of the US. Brex customers currently work and do business in over 162 countries, representing over 80% of all countries worldwide. You can see in the animation below how our users have expanded globally from January 1, 2019, through May 1, 2022. And we’re not the only ones seeing this trend. Almost half of the latest Y Combinator batch has employees around the globe. According to a recent study by Deel, the growth rate of hiring internationally grew over 200% in every major global region in the second half of 2021.
With this launch, US-based companies with global employees will have the ability to:
Global reimbursements.
Finance teams will be able to review, approve and deposit reimbursements in two days or less. These reimbursements will be made in the local currency of the employee.
Spend worldwide with your Brex card.
Brex will enable employees all over the world to spend on their Brex card with high rates of acceptance, facilitated by additional security features — including PIN protection and 3D Secure (3DS). Brex will also enable finance teams to see their card, cash, and reimbursement transactions in the currency the transaction was made, with a clear view of the exchange rate used.
Offer a consistent spend management experience, in one system.
Using Brex, customers will be able to seamlessly delegate and track budgets across countries. All foreign card transactions will also be shown in USD for automated ERP (Enterprise Resource Planning) reconciliations. Even if your global divisions don’t all use the same systems, they can all use Brex.
Access customer support 24/7, all around the world.
Along with receiving physical cards anywhere in the world, employees will be able to add their Brex cards to their Apple Pay and Google Pay, and receive notifications via SMS or WhatsApp. Starting this summer, Brex will offer customer support 24/7 anywhere in the world, via phone, chat, and the Brex mobile app.
Later this year, we will enable companies to manage their local subsidiaries on Brex with card statements and collections in local currency, and the ability to pay those — along with bills and reimbursements — from domestic or international bank accounts.
We are excited to enable global companies to move faster than ever, and we’ll continue deepening our product to best support an increasing number of markets, each with their own local nuances and complexities. If you have any specific countries you’d like to see Brex supporting, please let us know at global@brex.com.