Around 50% of all expenses that startups make require a credit card, but did you know it’s next to impossible to get a company card from the banks when you’re starting a new company? While at Y Combinator, the founders of Brex “[Henrique and Pedro] noticed that all the YC companies that got funding of $120,000… needed a credit card— not as a financing tool but as a payment instrument.”
Larissa Rocha, employee #1 at Brex, stopped by the podcast and told us that “banks wouldn’t give a [startup] a card because they didn’t have a financial history, so they would then go after the founder for a personal guarantee, which is not ideal.”
Now, with over $2 billion in valuation and investors such as Peter Thiel, Brex is the premiere next-generation financing for the startup community.