Brex is a financial services organization that offers credit cards to technology, e-commerce, and life sciences companies. The organization offers these credit cards with varying payment cycles making it extremely convenient for businesses to procure credit and manage their day-to-day operations.
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Brex Review and Overview
Procuring credit is a crucial part of any business’s day-to-day operations. The working capital fuels the everyday operations of a business and allows them to expand their scope. With the development of technology, there has been a significant improvement in various facets of running a business. For instance, processing payroll invoices today is far simpler than it used to be before the advent of several online tools.
However, when it comes to credit-related activities, the change has been minor or almost nil. Organizations even today rely on traditional credit providers and stick to old credit procuring mechanisms. There are quite a few reasons for this, among which the major one being the lack of availability of a transparent platform.
Credit and new-age businesses
Moreover, modern-day businesses like e-commerce and technology services have credit requirements that are quite different from conventional businesses. And hence the need for a modern credit platform is felt more by these new-age businesses. To satisfy the credit needs of such businesses and enable them to conduct their operations in a much smoother manner, Brex offers corporate credit cards. These credit cards are aimed at fulfilling the day-to-day credit requirements of these new-age businesses. The flexibility on offer with these credit cards lets businesses plan their expenses more effectively and maintain a smooth flowing credit cycle.
The various cards on offer
Brex offers varying payment cycles based on the nature of the business. For e-commerce businesses, the credit card provider offers the Brex 60 card, which comes with a 60-day payment cycle. The card is built for all e-commerce businesses, with a minimum of $100,000 in sales per month. For life science and technology businesses, the credit card provider offers the Brex 30 card that comes with a 10-20x higher range than credit cards offered by conventional credit providing organizations. Additionally, both the credit cards do not require any personal guarantee and offer integrations with tools such as QuickBooks, NetSuite, Expensify, and Xero.
What is Brex Cash?
Apart from credit cards, Brex also has a cash account management on offer. Known as Brex Cash, the account is offered with unlimited free wire transfers and can be activated in as little as 60 seconds. Additionally, it comes with features like a one-day payment cycle, fraud protection, and no personal liability. With the nature of businesses seeing a rapid change, the credit procuring mechanisms also need to make the shift in order to stay relevant. And using a platform like Brex can be termed as a step in that direction. It is surely a credit platform for the future.
Company Name: Brex
Founded in: 2017