Brex Closes $250 Million Employee Liquidity Program
May 17, 2022
May 17, 2022
Today, we are pleased to announce the closing of a $250 million private tender offering. This tender offer was intended primarily for our employees to recognize their hard work over these past five years and the support they’ve given to Brex. With their contributions Brex has grown into a strong, global business.
The transaction was led by Y Combinator with participation from other investors, such as Mubadala Investment Company and Baillie Gifford, at a $12.3 billion valuation, consistent with Brex’s primary capital raise at the end of 2021. The confidence and support from our investors is not something we take for granted, and we are thankful for the partnership and commitment we’ve experienced over the years, which validate our mission of helping growing companies realize their full potential.
We’ve never been more optimistic about Brex’s future. With the recent introduction of our new software platform Brex Empower, our push into serving global workforces, and with much more on the horizon, our ability to help companies create a culture of trust and financial discipline at scale has never been stronger.
We know that this is not an easy time for tech companies given the volatile market environment, and we are overwhelmed with the incredible support, confidence, and trust we continue to receive from our investors and customers.
And above all, we are grateful to all of our Brex team members, who never stop pushing and inventing on behalf of our customers.
Onwards and upwards!