Case study / Life sciences
Procurement cards with high rewards
The Brex Difference
Top Spend Categories
Menlo Park, CA
$17.5M (Series A)
BillionToOne is a precision diagnostics company with the mission of making molecular diagnostics more accurate, efficient, and accessible for all.
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.
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.”
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 2x 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.