Brex Expands Mobile Capabilities for Founders; Offers New Solution for Cash and Runway Management
February 15, 2022
SAN FRANCISCO, CA – Brex, the company reimagining finance for growing businesses, today announced a set of new mobile cash flow management features designed to meet the financial and productivity needs of startup founders.
Founders have unique cash management needs for their businesses, especially early on. They manage everything themselves—often without the support of a finance team. As a result, they need a fast and easy way to manage cash flow and runway that keeps them focused on building their product and company.
Brex’s mobile app now supports creating up to eight accounts—including payroll, marketing, and taxes—which are funded by direct deposit or moving cash between accounts instantly. This allows for greater visibility and control over all company funds from one place. Accounts can serve any purpose and are especially well-suited to separate investor funds from operational expenses, with automated monthly reporting on each account—a best practice for every startup.
“As a founder, I know my runway is my lifeline,” says Alex Bouaziz, Cofounder and CEO of Deel.
“Brex’s mobile app lets me track, manage, and report on Deel’s investor funds and burn rates with just a few taps from wherever I work.”
Alex Bouaziz, Cofounder and CEO of Deel
To help drive productivity, Brex’s mobile home screen now also has a personalized task inbox. Tasks may include payment approvals and reminders about transactions with missing information to help founders close the books faster each month. When multiple tasks require action, Brex categorizes them by type so founders can prioritize their attention on the tasks with the highest business impact, unblocking payments and the services their employees depend on.
Brex’s mobile app is playing an increasingly important role in helping founders and employees in fast-growing startups run their financial operations from anywhere. As Brex has expanded from credit cards to offering business accounts and spend management software, the company has seen founders use Brex for more of their financial needs. In fact, Brex saw 3x growth in founders using business accounts on mobile this past year, adding support for contactless payments, intuitive receipt capture, and the ability to lock a credit card instantly for security purposes.
“Enterprise mobile apps have always lagged behind consumer-facing ones, especially in business banking and expense management. That shouldn’t be the case,” says Brex’s Chief Product Officer, Karandeep Anand. “Brex is doing things differently with its mobile app by focusing on productivity, so founders and employees can spend less time managing expenses and more time building and scaling their startup. Unlike most banks, Brex serves the financial needs of the fastest-growing startups, whose founders expect best-in-class mobile support that complements their working style.”
Brex’s mobile apps are available to download for iOS and Android devices and support different experiences for employees, bookkeepers, and administrator roles.
Brex is a powerful financial stack designed to serve the next generation of growing businesses. By integrating software, services, and products into one experience, we help customers effortlessly extend the power of every dollar, so they’re free to focus on big dreams and fast growth—without worrying about wasted spend. We proudly serve tens of thousands of businesses, from small private companies to many of America’s most beloved public brands.