Capital One to Acquire Brex for $5.15 Billion
Capital One Financial will acquire fintech firm Brex in a cash and stock deal valued at $5.15 billion, the Wall Street Journal reported. The transaction will be funded with approximately 50% cash and 50% stock consideration.
Brex is a modern, AI-native software platform offering intelligent finance solutions that make it easy for businesses to issue corporate cards, automate expense management and make secure, real-time payments. The company also leverages AI agents to help customers automate complex workflows to reduce manual review and control spend.
Brex was founded by Brazilian entrepreneurs Henrique Dubugras and Pedro Franceschi in 2017. The company began as a VR startup but pivoted to fintech three weeks into Y Combinator's 12-week accelerator program. Over 25,000 companies run their finances on Brex, including DoorDash, TikTok, Anthropic, Robinhood, Crowdstrike, Zoom, Plaid, Intel, SeatGeek, and the Boston Celtics.
Upon completion of the transaction, Franceschi will continue to lead Brex as part of Capital One.
"Since our founding, we set out to build a payments company at the frontier of the technology revolution. Acquiring Brex accelerates this journey, especially in the business payments marketplace."
— Richard D. Fairbank, Founder, Chairman, and CEO of Capital OneThe transaction is expected to close in the middle of calendar year 2026, subject to the satisfaction of customary closing conditions.
BofA Securities served as financial advisor and Wachtell, Lipton, Rosen & Katz served as legal advisor to Capital One. Centerview Partners LLC served as financial advisor and Wilson Sonsini, Simpson Thatcher, and Skadden Arps served as legal advisors to Brex.