# Brex Launches the First Corporate Card for Startups Brex today unveiled a first-of-its-kind corporate card specifically designed to help startups qualify based on funding rather than credit history. **URL Source:** https://www.brex.com/journal/press/launch --- SAN FRANCISCO, CA June 19, 2018 - Fintech startup Brex today unveiled a first-of-its-kind corporate card specifically designed to help startups qualify based on funding rather than credit history. The company also announced it has closed a Series B round of financing with participation from luminaries in the fintech and technology industries bringing total funding to $57 million. Investors include Y Combinator Continuity, PayPal founders Peter Thiel and Max Levchin, Facebook investor Yuri Milner, financial services VC Ribbit Capital and former Visa CEO Carl Pascarella. ![Brex launches and raises first round.](https://brand.brex.com/transform/55de52a7-52dc-4f58-abb5-dd0ffeba05fc/Henrique-Pedro-First-Launch) Brex spent the last year working with customers to perfect a product experience using technology to navigate the financial and regulatory hurdles that typically prevent early stage companies from credit card services. With Brex, growing companies can get instant approval on cards that offer high limits and don’t require any kind of personal guarantee. Brex has over 1,000 customers and is now open to startups nationally with a two- minute application at Brex.com. “Startups that have raised millions and are poised for hyper-growth can’t get slowed down hassling with banks requiring personal guarantees and offering meager credit limits,” said Henrique Dubugras, co-founder and CEO of Brex. “Traditional credit models look at how much a company can pay back in a year based on profits, often disqualifying startups. We rebuilt the financial services tech stack from the ground up and created a new kind of card to specifically meets the needs of startups.” Highlights of the new card from Brex include: - _Seamless Online Signup_: Easy application without personal guarantee requirements and higher limits to reflect the needs of growing companies. - _Integrated Expense Management Software_: Saving receipts has never been easier – just text or email Brex a picture of a receipt and it is automatically matched to the transaction in the customer’s online dashboard. “Brex is redefining the corporate card experience for startups of all stages. This has been a longstanding pain point for many of our founders. We are thrilled to have led the Series B round in Brex,” said Anu Hariharan, Partner, Y Combinator Continuity. “As a startup founder, you have so many things going on, and the last thing you want to worry about is finding a quick and easy payments solution for company expenses, let alone personally guaranteeing a card or trying to find an expense management system that works. Brex solves that,” added Dalton Caldwell, Partner, Y Combinator. With this funding, Brex also adds board members Anu Hariharan, Partner, Y Combinator Continuity, and Meyer Malka, Managing Partner, Ribbit Capital. Get the new Brex card today at Brex.com. ## Related Articles ### [Brex and Tekion Partner to Bring Embedded Spend Management to the Modern Auto Dealership ](https://www.brex.com/journal/press/brex-for-tekion-spend) Brex is the first fully embedded corporate card and spend management solution that delivers a native spend management experience designed for automotive dealer groups. ### [Brex Helps Power OpenAI Global Spend and Financial Operations](https://www.brex.com/journal/press/brex-helps-power-open-ai-global-spend-and-financial-operations) OpenAI is using Brex to help run their global spend and financial operations. ### [Brex launches AI-native accounting API](https://www.brex.com/journal/press/brex-launches-ai-native-accounting-api) Brex's AI-native Accounting API automates workflows end-to-end and enables deeper integrations with ERP systems and other key integration partners. ### [Brex x FTB](https://www.brex.com/journal/press/brex-announces-partnership-with-fifth-third-bank) Intelligent finance for the businesses that power America: Brex and Fifth Third Bank unite to deliver AI-native corporate cards and automation at unprecedented scale. ### [Brex Announces Partnership with Oracle as First Fintech Global Issuer to Power B2B Payments in Oracle Fusion Cloud ERP](https://www.brex.com/journal/press/brex-announces-partnership-with-oracle-fusion) Powering the future of enterprise payments: Brex is the first fintech embedded in Oracle Cloud ERP, enabling global companies to pay suppliers instantly and intelligently. ### [Brex Announces Launch of Stablecoin Payments](https://www.brex.com/journal/press/brex-announces-launch-of-stablecoin-payments) Powering the next generation of business: Brex will be the first global corporate card to offer instant balance payments with stablecoins, helping customers operate globally with speed.