Brex Acquires Weav for $50 Million to Power All-in-One Finance Solution, Expands Global Reach
August 17, 2021
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 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.