What you need to know about Brex and their innovative take on banking

Posted on October 18, 2019 by in Credit Card Deals, Travel Deals, Travel News, Travel Tech

Brex is a business credit card start-up that innovated the way you apply for business credit cards. Instead of evaluating applications based on a business owner’s credit, it focuses on the funding of the business itself. The card is perfect for business owners looking into new and fresh options for their business.

What makes Brex stand out

Brex was founded in 2017 in San Francisco by Pedro Franceschi and his partner Henrique Dubugras. Before venturing out and creating the successful Brex, the two young men worked on other start-ups together. Dubugras and Franceschi first launched the payments platform Pagar.me which was rather short-lived. After that, they tried their luck with a virtual reality start-up ‘Beyond’. After coming up with Brex the two were launched into success. The idea behind their business model comes from their personal struggle to get a business card. Their goal is to change the way traditional banking works and so far they are making it work.

Pedro Franceschi (left) and Henrique Dubugras (Right)

Brex provides start-up founders access to business credit cards without a personal guarantee or deposit. The Brex Card for start-ups works on the Mastercard network, there are no annual fees or foreign transaction charges, and cardholders can earn rewards.

From their website:

“No personal guarantee, instant approvals, and modern payment terms. Powered by the Mastercard network with best-in-class fraud protection.”

Credit card with no personal guarantee

A personal guarantee requires the user to accept personal liability for business debt. That counts for all credit card debt. If the business does not succeed and fails the personal assets of the user are at stake because there is a personal guarantee. With the Brex card for start-ups, there’s no founder liability if the business isn’t successful, which is a game-changer!

Brex Credit card is easier and faster to get

The Brex card for start-ups requires a company to provide its basic details. Those are the employer identification number, and access to its bank information. If your application is approved, you’ll get an answer within minutes. After that, you will get a virtual version of your card that can be used right away! Of course, after a few days, you will receive the material copy in the mail.

Something to keep in mind before applying:

  • These cards are only available to corporations based in the USA
  • You have to have at least $100,000 in a business bank account to qualify for a Brex Credit card
  • You can sign up here!

About the author: Mila Kostic is a native of Belgrade, Serbia. After majoring in sociology at the Belgrade University she has been working as tutor and coach. Prior to taking on her role at Mighty Travels, she wrote for a video games, fitness, and health lifestyle website. After starting her work with the Mighty Travels team she discovered her passion for travel and travel writing. Now, she is focused on bringing you the newest travel news. In her portfolio here at Mighty Travels, you can find articles on Airline news, hottest credit card deals, tips and tricks on earning miles and much more. You can reach her at [email protected]

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