Financial Services provider Brex On the Thursday announced that it takes a major milestone: it is now licensed in the European Union. Meaning can now issue credit cards and debit and offer Management products used for 30 years to “Nothing to use,” as Co-founder and CEO Pedro Franceschi wrote In blog posts.
At the beginning of the company management of the company before supporting 60 currency in 200 countries, can only sell the product to the company with the US presence.
With expansion, Brex is now authorized to sell the charge of management (complete with the published cards) and other instruments like the attached payment in the EU and the spokesman tells the techcrroch. However, there are cave: Banking and pay bills will not be available. The company expects to play the service at home.
While this is a good news for Blex, it may be a good news for beginners. The claim of blex for the instructions card the formation of the formation of employee although they will not get from traditional banks. Without offer a bank account, the most young starting EU starting should take a choice.
Next, Franceschi says he wants to grow Brex in the UK, even if they do not give specific plans.
Franceschi say in December The Brex has traced to stop burning by 2025, “milestone is important for the available IP.”
In February, the source tells various newsletters that Blex tracks $ 500 million in the annual this year as well. That is enough tournaround from the moment that shakes in 2023 when Brex runs the layffs and reported to employees if the cash burning is very high. No one does not know that if the IPO may be done, although.
Win competitive Brex in the international market comes the US Fatin competitor is to have a whole time. Ramp has added money from VCS like mad, Hitting $ 22.5 Billion is about 45 days After a round with $ 16 billion worth. In March, Mercury picked $ 300 million and doubles the cost of $ 3.5 billion, as well.
Blex has not announced the VC Equity funding since 2022, while raising $ 300 million in a D-2 D-2 series at $ 12.3 billion value. However, secure the debt of $ 26 million $ 26 million March 2024They are supported by using Management products, to help you pay intensive businesses.
