Brex has achieved a significant milestone by obtaining a license in the European Union, enabling it to issue credit and debit cards and offer spend management products directly to businesses in all 30 EU member countries. Previously limited to U.S. companies, Brex can now provide expansive services including embedded payments. However, banking and bill pay services are not yet available. Brex aims to expand its operations to the U.K. while planning for future financial stability and an IPO by 2025 amidst a competitive U.S. fintech landscape.
With the expansion, Brex is now authorized to sell spend management complete with issuing cards and other tools like embedded payments to EU companies and startups.
Brex's claim to fame is offering startups expense management cards for their employees even if they wouldn't yet qualify from traditional banks.
Franceschi said in December that Brex is on track to stop burning cash in 2025, an important milestone to our future IPO.
While this is good news for Brex, it may also be good news for European startups; they now have access to significant financial tools.
Collection
[
|
...
]