Lone Pine Capital Joins Existing Investors Led by DST
Brex, the financial technology company reimagining financial systems for growing companies, announced that an investment group including Lone Pine Capital as well as a group of existing investors led by DST has invested an additional $150 million in the company. The investment represents a slight premium to Brex’s post money valuation.
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“We are excited to have a front row seat as Brex continues to revolutionize financial services”
This fresh capital strengthens the Brex balance sheet and bolsters Brex’s standing as the leading financial services provider to technology, ecommerce, life sciences and other businesses. The equity proceeds also enhance Brex’s position across all of its lenders and financial partners.
“We’re glad to have additional capital at a time when customers need us to be focused 100% on providing services and solutions to help them navigate these challenging economic times,” said Henrique Dubugras, Co-Founder and Co-CEO of Brex.
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Brex is specifically using the proceeds to further invest across engineering and product and design functions in order to improve expense management, procurement and software tooling for its customers. The company will use a combination of organic efforts as well as small acquisitions to supplement its hiring and product development efforts.
“We are excited to have a front row seat as Brex continues to revolutionize financial services,” said David Craver, Portfolio Manager and Managing Director of Lone Pine Capital. “With one of the strongest executive teams in fintech, we look forward to seeing Brex continue to provide support and innovative solutions to its customers through this dynamic and unprecedented business environment.”
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