SAN FRANCISCO--(BUSINESS WIRE)--Today Brex, the corporate card that accelerates entrepreneurs and scaling businesses, announced an alliance with TriNet, one of America’s largest full-service HR solutions providers. TriNet customers who have a Brex corporate card for either life sciences or technology will receive exclusive Brex Rewards.
The card offers Brex and TriNet customers 5x points on coffee, 3x on food delivery and 2x on health and wellness. This is the very first credit card to offer multipliers on coffee or health and wellness, which reflects Brex’s unique approach to tailoring its products to specific industries and its flexibility created through rebuilding the financial technology stack from scratch.
“Brex is thrilled to partner with TriNet, not only because of our mutual innovation in financial services and HR respectively. But more broadly, we’re also both committed to bringing tools and technology to improve people’s work lives," said Henrique Dubugras, co-Founder and co-CEO of Brex.
This announcement highlights a shared commitment of Brex and TriNet to help its small and medium size business customers focus on their employees. The corporate card will add Brex’s automatic receipt capture, expense management and unique underwriting to the broad suite of HR solutions TriNet offers its customers. An integration between TriNet’s expense management system and Brex further simplifies the expense process and recordkeeping.
“The alliance underscores our commitment to empower small and medium size businesses to put their people first as they continue to break down barriers and positively impact their communities. Through the alliance, our customers in life sciences and technology industries have access to exclusive Brex Rewards for taking care of their employees,” said Jimmy Franzone, Senior Vice President of Strategy at TriNet.
To celebrate the launch of this alliance and its coffee spend multiplier, Brex is also releasing data about its customers’ coffee spend as part of its Brex Quarterly Review. Highlights include:
- 50% of startup employees spend over $15 on coffee a month on their corporate cards
- Among the most popular coffee chains for Brex startups, Bluestone Lane is the most expensive per transaction at $10.78. Dunkin is the cheapest at $6.43 per transaction.
- Starbucks is the most popular coffee chain among startups.
Learn more about the Brex and TriNet exclusive rewards here.
TriNet (NYSE: TNET) provides small and medium size businesses (SMBs) with full-service HR solutions tailored by industry. To free SMBs from HR complexities, TriNet offers access to human capital expertise, benefits, risk mitigation and compliance, payroll and real-time technology. From Main Street to Wall Street, TriNet empowers SMBs to focus on what matters most—growing their business. TriNet, incredible starts here. For more information, visit TriNet.com or follow us on Twitter.
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 $315MM in equity and $100MM in debt capital. The company’s headquarters are in San Francisco with an additional office in the Salt Lake Valley. Read the Brex platform agreement here: brex.com/legal