Corporate credit card company Brex has completed three acquisitions which will add “meaningful engineering and product talent to its ranks.”
No values for any of the deals were disclosed. Each of the companies are based in San Francisco.
The first company Brex has acquired is Neji, a startup building blockchain and networking technologies for businesses. Its technology helps businesses with the security and networking challenges of scaling distributed ledgers across hybrid-cloud and multi-cloud deployments.
Through the acquisition, Brex hopes to improve its security, privacy and risk posture as it increase is product development roadmap.
The next company Brex acquired is Compose Labs, which support video experiences. By joining Brex, it will help the payment company with its e-commerce services, particularly expanding the quality and sources of its e-commerce underwriting data and building out valuable expansion products.
Finally, Brex has acquired Landria, which builds internal knowledge databases for companies. It can also organise a business’ SaaS tools into a single location with a unified search and navigation solution. It will help Brex improve its core infrastructure.
Brex co-Founder and co-CEO Henrique Dubugras said, “Brex is committed to helping growing businesses scale, especially in challenging environments. We look forward to bringing the talented team members at Neji, Compose Labs and Landria onto the Brex team.”
Late last year, Brex collected $200m in a debt capital round which it raised to support the expansion of its product. Capital was supplied by Credit Susie.
The funds came just a month after the credit card company secured $100m from Barclays Investment Bank.
Brex offers corporate cards, rewards and travel programmes tailored to different industries. The corporate card and rewards system were initially launched in 2018 and aimed at startups.
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