Welcoming Karan and our Series D-2 Round

Today, we have two exciting announcements to share. First, we are really excited to welcome Karandeep Anand to Brex as our Chief Product Officer.

Finding the right person to lead the Product org is an incredibly challenging feat. But since Henrique and I met Karan, we were impressed from the very beginning. To start, Karan’s credentials speak for themselves, after spending almost 7 years at Meta leading the business products division, and serving over 200 million businesses globally. Prior to Meta, Karan spent 15 years at Microsoft where he worked extensively in the cloud computing and platform realm.

As companies grow, it’s easy to find leaders who are great at managing large teams, but less so operating at all levels and staying connected to the details that matter to customers. What impressed us immediately upon meeting Karan was not just his leadership skills, but also his customer orientation and technical depth. Henrique and I are excited to continue learning from Karan’s experience, and we’re so fortunate to have him join us.

Finally, we have another exciting update — we closed a Series D-2 funding round of $300 million, led by Greenoaks Capital and TCV, at a valuation of $12.3 billion. This new funding, along with Karan’s leadership, will enable us to accelerate even further our plans to deliver a financial operating system for every growing company.

Since we launched in 2018, the journey of building Brex has been nothing short of amazing. Four years ago, companies had an impossible time getting access to credit cards, business accounts, or decent spend management software. Today, we’re fortunate to serve tens of thousands of customers, processing tens of billions of dollars every year for the most ambitious companies on the planet. I am always struck by how cool it is to have a front row seat watching our customers redefining so many industries.

Henrique and I are incredibly grateful to each of our customers, employees and investors for the continued support and trust. Thanks for being a part of our journey.

Onwards!