Brex plans to launch a new card in April with more sophisticated accounting features.
Brex, a startup that issues corporate credit cards to early-stage companies, plans to launch a new offering in April with more mature accounting features.
With the launch of the product, Brex is aiming to meet the evolving needs of its startup client base, some of which want more accounting controls.in just over two years catering specifically towards young companies. That's why Brex has plans to launch a new card in April geared specifically towards more established startups, according to people familiar with the matter. The new card, which has yet to be named, will feature more detailed accounting controls, including the ability to review and approve purchases, and better integration with firms' accounting software like QuickBooks, Expensify, Xero, and NetSuite.It took only a year and a half for these 22-year-olds to build a billion-dollar company.
However, as Brex's client base matures, spending needs become more complex. Often times, a company's CFO would prefer to move spending off a card and instead deal with invoices, which are easier to maintain and oversee from an accounting perspective.A buzzy startup raised $57 million from Peter Thiel and Y Combinator using these 19 slides
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