The news was big in the fintech world with Brex claiming the pairing would represent 'the largest bank-fintech deal in history.' (Visa had planned to buy Plaid in 2020 for $5.3 billion until that deal fell apart a year later due to regulatory concerns.) 'Acquiring Brex accelerates this journey, especially in the business payments marketplace,' he said. 'Brex invented the integrated combination of corporate credit cards, spend management software and banking together in a single platform. They have taken the rarest of journeys for a fintech, building a vertically integrated platform from the bottom of the tech stack to the top.' While $5 billion is no small sum, it is less than half the $12.3 billion that San Francisco-based Brex was valued at in October 2021. In total, the company has raised $1.7 billion in equity and debt since its 2017 inception ' with about $1.2 billion of that being venture funding. The company has 1,100 employees, according to a Brex spokesperson who also told...
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