IPO hopeful Brex scored major win to sell in the EU, plans UK expansion

Financial service supplier Brex Thursday announced that it had achieved a big milestone: it is now licensed in the European Union. এর অর্থ এটি এখন সরাসরি ক্রেডিট এবং ডেবিট কার্ড জারি করতে পারে এবং সহ-প্রতিষ্ঠাতা এবং সিইও পেড্রো ফ্রান্সেসচি লিখেছেন, “কোনও ওয়ার্কআআআআআআআআআআআআআআআআআআআআআআআআআআআ In a blog post.

Although corporate expenditure management startups have previously supported 60 coins in 200 countries, it can only sell its products to companies with US presence.

With the expansion, Brex is now authorized to sell other equipment, such as the cost of conducting the expense (complete with the issue card) and EU companies and other equipment, such as Embeds, and a spokesperson TechCrunch. However there is a warning: banking and bill salaries will not be initially available. The company is hopeful that these services will roll in the future.

Although it is good news for Brex, it can also be good news for European startups. Brex’s demand for fame is providing startups expenditure management cards for their staff even if they still do not qualify from the Traditional Tailed Banks. The youngest EU startups without any bank account offer still need to weigh their options.

Then, Francesi says he wants to expand Brex in the UK, though he did not offer any specifications about these plans.

Francesi December That Brex is on the way to stop burning cash in 2025, “an important milestone in our future IPO.”

In February, sources told various newslets that Brex was on the track this year to earn $ 500 million. It was quite changing from a moment in 2021 when Brex operated and told employees that its cash was very high. Although there is no indication of when that IPO may happen.

In the international market, Brex has a competitive win because its US fintech contestants are spending the overall moment. Ramp Mad is collecting money from VC likes, Hit $ 22.5 Billion Evaluation around about 45 days After a round with $ 16 billion evaluation. In March, Mercury raises a new 300 million dollars And its evaluation doubles $ 3.5 billion.

Brex has not publicly announced the new equity VC fund since 2022, while it has collected $ 300 million in one Series D -2 Round a 12.3 billion dollars To evaluate. This, of course, has secured a new $ 260 million Debt O March 2024Its expenses are supported by managing products to help pay for its cash-intensive business.