Brex Acquires Weav for $50 Million to Power All-in-One Finance Solution, Expands Global Reach
SAN FRANCISCO, CA – U.S. fintech company Brex, the all-in-one finance solution for growing businesses, today announced its $50 million acquisition of Israeli-based Weav, which offers a universal API for commerce platforms. The acquisition allows Brex to expand its global presence by establishing an innovation hub in Israel.
Brex offers credit cards, business cash accounts, spend management and bill pay software together in a single dashboard for its growing customer base, though it will continue to expand its product and services portfolio to become a fully-integrated and holistic financial platform for businesses. Weav’s technology will accelerate the connectivity of the Brex platform, allowing the company to achieve this goal quickly and further support Brex’s ability to serve customers in many different industries.
“After a successful partnership, we are thrilled to make Weav part of our core team,” said Henrique Dubugras, co-founder and CEO of Brex. “Weav’s technology helps make Brex even better for our customers.”
In recent years, businesses have undergone a dramatic digital transformation with the adoption of cloud and SaaS technologies. The data of these modern businesses are stored in a variety of disparate systems. Weav builds digital connections that enable sharing and analyzing the information automatically and across platforms. Since its founding, Weav’s API call volume has grown by 300% each month.
“Joining the Brex family will bring incredible reach to Weav’s existing products,” said Nadav Lidor, Weav’s co-founder and CEO, who will be leading Brex’s growing team in Israel. “Our goal has always been to connect businesses, creators, and other entrepreneurs with fintech to expand financial access, and this aligns with Brex’s mission. We’re excited for our future together.”
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