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Case study / Accounting Partner

Saving $250 per employee per month

The Brex Difference

Personal guarantees, low credit limits

Pain Points

Company Info

Vanessa Kruze

Founders

2012

Founded

San Francisco, CA

Headquarters

50

Employee Count

Company

Kruze Consulting is a leading provider of accounting, finance, tax, and HR advice to venture and seed funded startups. Kruze offers early-stage, funded companies everything from basic monthly bookkeeping to outsourced CFO help to startup tax returns.

Kruze is a 2018 and 2019 Inc 5000 fastest-growing private company, and one of the SF Business Times 2019 Top 100 Women-Owned Companies in the Bay Area.

Challenge

Kruze’s clients have raised over $3 billion in venture funding, and Kruze often begins working with companies after they raise their first seed round. Kruze’s most successful clients often quickly raise multiple rounds of financing, quickly growing their revenues—and expenses.

However, since traditional banks determine credit limits from the founder’s FICO score—rather than the company’s cash balance—high growth companies that spend heavily on advertising and servers often hit their monthly limits frequently. “Before switching to Brex, some of our clients were blowing through their credit limits in two days,” said Healy Jones, Vice President of FP&A at Kruze Consulting.

Banks also require a personal guarantee for startups, Jones points out, “which matters to founders quite a bit; failing fast is a lot less fun when you’re personally stuck with a $100,000 credit card bill.”

“Before switching to Brex, some of our clients were blowing through their credit limits in two days. Brex brought discipline to wasteful, uncoordinated spending, and Kruze’s data shows that Brex’s expense controls help save our clients meaningful amounts of money.” — Healy Jones, Vice President of FP&A
Solution

Jones runs Kruze’s FP&A group. He helps clients manage their budgets and curb their burn rates. “Brex does not require a personal guarantee, gives startups 10-20x higher limits than traditional banks, and offers built-in tools to help executives manage team spend,” he says.

Kruze uses the Brex dashboard to identify where clients are inadvertently wasting money. Using the filters, Kruze can see there could be 20 different people ordering food—across DoorDash, Caviar, Costco—or that clients have a drawer full of Apple mice going unused.

“Brex brought discipline to wasteful, uncoordinated spending, and Kruze’s data shows that Brex’s expense controls help save our clients meaningful amounts of money,” says Jones. “Amex doesn’t offer any tool or dashboard functionality like this.”

Kruze also uses Brex’s direct integration with QuickBooks to close their clients’ books, which cuts out manual work and makes the monthly close process more efficient. “If there’s an API or way to automate a process, we’ll use it, since it eliminates the risk of human error and saves time,” says Alex Janeck, Director of Onboarding & Sales Operations. “Brex’s best-in-class QuickBooks integration helps us close our clients’ books faster through the use of custom transaction categorization rules and intelligent category mapping.”

Brex’s support is fast and reliable. The average wait time is 30 seconds for phone calls, 60 seconds for website chat, and 1 hour for email. “Brex customer support is superior to Amex’s,” says Jones, “and it gives our clients comfort to know that the response will be super quick.”

“Brex customer support is superior to Amex’s, and it gives our clients comfort to know that the response will be super quick.”
Impact

Kruze has saved their clients who use Brex over $250 per employee per month on travel, entertainment, and meals. “That’s savings that substantially help decrease a company’s burn rate,” said Jones.

“We’re encouraging all of our clients get on Brex,” added Janeck. “We assist with a lot of tax compliance work on behalf of our Clients, and using a Brex card creates a more secure way to help us do startup tax filings and make those payments for our clients—versus the traditional way of securing client banking data.”

Kruze has saved their clients who use Brex over $250 per employee per month on travel, entertainment, and meals.

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