SAN FRANCISCO--(BUSINESS WIRE)--Brex, the first corporate card for startups and ecommerce businesses, announced a new suite of rewards targeted specifically to its direct-to-consumer and online-brand cardholders. Just as Brex launched a similar program for tech startups, the company is curating a new set of rewards, including a meaningful discount on advertising with Clear Channel, the out-of-home media advertising company, to fuel growth for online brands and retailers.
“After receiving overwhelmingly positive feedback on our latest card offering, we funneled that momentum to tailor a rewards program that enables growth for our ecommerce cardholders,” said Henrique Dubugras, co-founder and CEO of Brex. “These companies look to Brex to help them manage spending across critical categories like advertising, shipping and software - which account for over 50% of their costs - so our rewards offer discounts across these high spend categories to help business owners maximize value.”
Brex, itself known for bold out-of-home advertising that blankets major cities like San Francisco, Boston and New York, is partnering with Clear Channel to offer a meaningful discount off standard rates for a company’s first out of home advertising campaign, a promotion offering on average many thousands of dollars.
“We’ve partnered with Brex to help emerging business and ecommerce companies gain maximum value for their advertising needs,” said Bob Schmitt, Regional President, Northern California, Clear Channel. “The results Brex has seen through its outdoor advertising campaigns is tremendous, and we’re excited to play a part in the same kind of success for online brands and retailers.”
The Brex ecommerce rewards suite also includes a flagship offering from Payoneer to reduce the cost of paying foreign contractors used for services such as design, engineering and customer service, via credit card. Additionally, Brex ecommerce cardholders will benefit from discounts on Shippo, multi-carrier shipping software, Signifyd, enterprise-grade fraud prevention technology, Stitch Labs, operations management platform for high growth brands, Zentail, a multichannel ecommerce automation platform, and Postscript, an SMS marketing platform for ecommerce stores.
Brex is transforming B2B payments by creating corporate cards, rewards, and travel programs that are tailored to specific industries. In 2018 Brex launched the first corporate card and rewards program specifically designed for startups. By rebuilding the credit card tech stack from the ground up, Brex is able to reimagine every aspect of corporate cards, including underwriting, transparency and approvals, to create a radically better experience for customers. Brex is backed by Y Combinator Continuity, Peter Thiel, Max Levchin and more and has raised $215M in equity and $100M in debt capital. The company’s headquarters are in San Francisco.