High school graduates bestie and stanford dropouts from São Paulo and Rio de Janeiro earned spots on Forbes’ 30 under 30 finance list just recently. They are Brex Friends; Henrique Dubugras and Pedro Franceschi. From startup to billionaires, this is the brief overview!
Around a decade ago when they were just teens they did Twitter exchange between the cofounders about nuances of coding. Later they launched Pagar.me, a startup offering Brazilian shops to use online payments. In 2016 they sold this product to Stone, a Brazil fintech. The following year in 2017, they both dropped out from Stanford to start a new brand called Brex. This is where they soar.
Breaking the old way, Brex even helps small businesses to adapt to the future business customs. It applies customized financial services set online. There’s been bulk of startup with the same services offered recently. They know how difficult it was for entrepreneurs to get bank credit from traditional sources said The New York Times. That is why they help ease the way out. The NYT called them startup serving other startup.
What makes Brex stands out is that they are open to midsize companies. Forbes said 60% of their customers are midsize companies. During the pandemic, in new normal Brex provides program options for customers. Highly accessible, big discounts and rich rewards are some of their marketing strategies.
Brex’s investors such as capital firm Kleiner Perkins, PayPay alumni Peter Thiel and Max Levchin has gained $320 million in revenue. Set to make startup easier to get credit cards, they gained $300 million in January. Henrique Dubugras and Pedro Franceschi each holds at least 14% stake worth $1.5 billion.
