Brex Acquires Elph
SAN FRANCISCO, CA - Brex, the first corporate card for startups, today announced the acquisition of Elph, a San Francisco-based startup building digital payments infrastructure on top of blockchain technology.
Elph has been providing software solutions to make digital payments easy, secure, and scalable. The company specialized in building tools for developers to accept cryptocurrency payments in their applications and for consumers to store, manage, and transact their cryptocurrency.
The five founding-member Elph Team — Ritik Malhotra (CEO), Tanooj Luthra (CTO), Vamsi Chitters, Sarat Ravi, and Abhinav Lanka — will all be joining Brex to bolster the company’s product development roadmap. “The Elph team has an entrepreneurial track record of building impactful products and leading teams from inception to large scale,” said Cosmin Nicolaescu, Brex VP of Engineering. “Their experience in leading product and engineering teams and building resilient software infrastructure will accelerate our product roadmap as we move up market and expand our team.”
The Elph team brings a wealth of experience at organizations including Coinbase, Google, Box, and Yahoo. Malhotra and Luthra also previously founded Y Combinator-backed Streem, which was acquired by Box in 2014.
“Brex’s mission and focus around revamping financial infrastructure deeply resonates with us and ties in well with the expertise we built up at Elph,” said Malhotra. “The rapid growth of the business is unparalleled and combined with a top-notch product and engineering team led by Cosmin, it was clear that Brex would be the best place to bring our experience during this exciting period of hyper growth.”
Brex empowers the next generation of businesses with integrated corporate cards and spend management software. We make it easy for our customers to manage every aspect of spending and empower their employees to make better financial decisions from anywhere they live or work. Brex proudly serves tens of thousands of growing businesses, from early-stage startups to enterprise leaders.
Karen Tillman, Chief Communications Officer