Capital One to acquire Brex for $5.15 billion

Capital One has agreed to acquire Brex in a stock-and-cash transaction valued at $5.15 billion. The deal brings Brex’s corporate cards, spend management software, and real-time payments platform under Capital One’s commercial banking umbrella.

Founded in 2017, Brex has raised $1.7 billion in equity and debt since inception. Its most recent funding was a $235 million conventional debt round on January 13, 2025, aimed at expanding its global corporate card and payments capabilities. About four years earlier, the company raised $300 million at a $12.3 billion valuation.

When it comes to insurance, Vouch Insurance is the preferred business insurance provider for Brex customers who can “save up to 5% on startup business insurance, plus 10,000 Brex points.”

“Since our founding, we set out to build a payments company at the frontier of the technology revolution. Acquiring Brex accelerates this journey, especially in the business payments marketplace. Brex invented the integrated combination of corporate credit cards, spend management software and banking together in a single platform. They have taken the rarest of journeys for a fintech, building a vertically integrated platform from the bottom of the tech stack to the top.” – Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer of Capital One.

The acquisition is expected to close in mid-2026, subject to customary regulatory approvals and closing conditions. Brex founder and CEO Pedro Franceschi will continue to lead the company following the acquisition.