Brex, a leading provider of modern corporate cards and spend management solutions, has closed a $235 million revolving credit facility, marking a major milestone in its growth trajectory. The two-year facility, led by Citi as senior lender and joined by TPG Angelo Gordon as a participating lender, underscores strong confidence in Brex’s innovative financial platform.
The new credit facility complements Brex’s existing warehouse facilities and master securitization trust, which has already supported three successful securitization issuances. This infusion of capital is set to bolster Brex’s ability to expand its global corporate card offering, along with its comprehensive suite of financial tools, including expense management, travel, banking, and bill payment solutions.
“This transaction highlights the continued momentum of Brex’s card offering and our entire product suite,” said Ben Gammell, Chief Financial Officer at Brex. “Our capital position remains exceptionally strong, and this credit facility enables us to scale further, empowering our customers to make the most of every dollar.”
The partnership with TPG Angelo Gordon reflects Brex’s focus on aligning with lenders who can tailor financial solutions to its needs. “We are thrilled to support Brex in delivering modern spend management solutions to businesses of all sizes,” said Aaron Ong, Head of Private Asset-Based Credit at TPG Angelo Gordon. “This partnership exemplifies our commitment to customizing capital solutions and supporting innovative companies like Brex.”
Brex’s continued growth highlights its mission to redefine corporate financial tools for startups and enterprises alike. With this significant financial backing, the company is poised to expand its reach and capabilities, ensuring it remains a leader in the corporate card and spend management space.
