I'm a reporter on Forbes' wealth team covering the world's richest people and tracking their fortunes. I was previously an assistant editor for Forbes' Money & Markets section, and I worked for Bloomberg and Pitchbook News before that. I studied history and economics at the University of Virginia, where I also wrote for the student paper and a very secretive underground satire magazine.
Brex’s two twenty-something founders are now billionaires, thanks to a lofty new funding round announced this week that nearly doubled the valuation of their five-year-old fintech firm.
“The market is pretty big, and I think that there's space for a lot of people,” he says. “Most B2B payments are still paper- and check-based.” For their next act, the pair initially wanted to build bank accounts for U.S.-based startups, but settled on corporate credit cards as a more attainable route. Dubugras and Franceschi founded Brex in 2017 after quitting Stanford in the spring of their freshman year and, two years later, both earned spots on. By then, Brex had raised $213 million and was valued at $1.1 billion. In 2019, Brex also rolled out its take on the business bank accounts that had enthralled its founders from the start.
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