Spend management decacorn Brex has acquired bookkeeping and budgeting software developer Pry Financials in a $90m deal.
Pry enables founders to project cash flow, track budgets and scenario plan using easy-to-understand dashboards and visualisations. The platform makes it easy to track and categorise revenue and costs, build a financial plan, build customised formulas for forecasting.
Brex co-founder and CEO Henrique Dubugras said, “Pry was designed from the ground up to help founders understand their business simply and efficiently. To help them scale, raise their next round of funding or plan an exit.
“I’m delighted to welcome the Pry team to Brex and excited to deliver such important capabilities to our software platform.”
Brex offers corporate credit cards, expense tracking, spend management, automated bill payments and more.
The FinTech company reached a $12.3bn valuation in October 2021 after it closed a $300m funding round. It raised an additional $300m in a Series D-2 funding round, but it is unclear if the valuation increased.
Last month, Brex signed a new partnership with Zesty.ai, a predictive data analytics service for climate risk. The aim of the deal was to enable Zesty.ai to power its growth within insurance and expand into use cases in real estate, including financing and asset management.
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