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Case study / Life sciences

Procurement cards with high rewards

The Brex Difference

20 minutes

Application & Removal Time

2 days

Implementation Time

Visibility, Rewards

Pain Points

Lab supplies

Top Spend Categories

Company Info

Oguzhan Atay

Founders

2017

Founded

Menlo Park, CA

Headquarters

15

Employee Count

$17.5M (Series A)

Funding

Company

BillionToOne is a precision diagnostics company with the mission of making molecular diagnostics more accurate, efficient, and accessible for all.

Challenge

Recent Ph.D. graduates Oguzhan Atay and David Tsao were eager to get to work commercializing their research in 2017 with their new startup, BillionToOne. They were accepted into the startup accelerator Y Combinator and raised $2.5 million shortly after to fund their research.

The founders, at their bank’s recommendation, started using a prepaid card to buy consumables and other equipment as they set up their lab.

“We trusted our bank, and while I know they were trying to help, the first card they recommended really didn’t work for us,” Atay said. “It wasn’t accepted at many of the vendors we use, didn’t have good tracking, and didn’t have any rewards.”

Oguzhan and David had better things to do than worry about whether payments to vendors would go through. They were running a startup with a new prenatal screening test that received $15 million in funding after showing success in clinical trials.

Solution

After telling his banker about the challenges his team faced, Atay received a new recommendation: Brex.

"We moved our expenses to Brex and created departmental procurement cards, which makes it very easy for us to track purchases, categorize spending, and manage our bookkeeping.”

“Brex turned out to be a lot more useful than our old card. We moved our expenses to Brex and created departmental prourement cards, which make it very easy for us to empower our employees, track purchases, manage our bookkepping, and earn high cash back.”
Outcome

The team no longer had to worry about making sure they could pay vendors like Thermo Fischer, VWR, and Rainin. And they will earn thousands of dollars in statement credit every year thanks to Brex’s 3x lab supplies rewards multipliers on the consumables and plastics they used nearly every day.

That’s Brex for Life Sciences. Saving time, saving money — and saving lives.

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