SAN FRANCISCO--(BUSINESS WIRE)--Brex, the corporate card that accelerates entrepreneurs and scaling businesses, has been named to Fast Company’s prestigious annual list of the World’s Most Innovative Companies for 2020. Brex was named #1 in the Finance category and #27 overall.
The list honors the businesses making the most profound impact on both industry and culture, showcasing a range of companies who have built products and businesses that can adapt and thrive in today’s fast-changing world. This year’s MIC list features 434 businesses from 39 countries.
“We are honored to be recognized in Fast Company’s annual list of the World’s Most Innovative Companies for 2020,” said Henrique Dubugras, co-founder and co-CEO of Brex. “Our mission is to reimagine financial systems so entrepreneurs can realize their full potential and dream big. We thank Fast Company for highlighting our efforts to do so.”
Brazilian co-founders Henrique Dubugras and Pedro Franceschi launched Brex in June of 2018 with a focus on startups and technology companies. Determined to help scaling entrepreneurs scale and find their stride, Brex launched two new products in early 2019 - Brex for Ecommerce and Brex for Life Sciences, with the goal of bringing tailored underwriting, benefits and rewards to these two new verticals that are underserved by legacy financial institutions and in need of a financial solution.
By rebuilding the credit card financial technology infrastructure from scratch, Brex has reimagined the entire corporate credit card experience across underwriting, user experience, rewards and expense management. With Brex, founders and their credit scores are no longer on the line. Brex has personalized the corporate finance process, including payment terms and accounting integrations, for each of its three credit card vertical markets. With Brex for Ecommerce, cardholders can access an open line of credit with interest free financing for 60 days to match their inventory cycles, all with the convenience of a universal payments network. With Brex for Life Sciences, users get instant online underwriting that accounts for both grant and venture funding, and rewards these companies on categories like Lab Supplies, where they invest most. Brex Rewards points are redeemable for statement credit, travel and six airline partner loyalty mileage programs.
With its latest product, Brex Cash, a new cash management account launched in October 2019, customers can use one unified Brex platform to handle payments any way they want to pay across ACH / Bill Pay, wire payments, check and credit card. Customers can also earn a yield on their cash balances.
Fast Company’s editors and writers sought out the most groundbreaking businesses on the planet and across myriad industries. They also judged nominations received through their application process.
The World’s Most Innovative Companies is Fast Company’s signature franchise and one of its most highly anticipated editorial efforts of the year. It provides both a snapshot and a road map for the future of innovation across the most dynamic sectors of the economy.
“At a time of increasing global volatility, this year’s list showcases the resilience and optimism of businesses across the world. These companies are applying creativity to solve challenges within their industries and far beyond,” said Fast Company senior editor Amy Farley, who oversaw the issue with deputy editor David Lidsky.
Fast Company’s Most Innovative Companies issue (March/April 2020) is now available online at fastcompany.com/most-innovative-companies/2020, as well as in app form via iTunes and on newsstands beginning March 17, 2020. The hashtag is #FCMostInnovative.
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. Just as Brex reimagined corporate credit card onboarding, underwriting, rewards and statements, Brex has used its technology to navigate the financial and regulatory hurdles that typically exacerbate negative banking product experiences. With its latest product, Brex Cash, growing companies can get instant access to their account through an all-online signup process, easily manage users and permissions, and benefit from clean, transparent statements. Brex is backed by Y Combinator Continuity, Peter Thiel, Max Levchin, and more, and has raised $315M in equity and $100M in debt capital. The company’s headquarters are in San Francisco with an additional office in Salt Lake Valley. Read the Brex platform agreement here brex.com/legal.
About Fast Company
Fast Company is the only media brand fully dedicated to the vital intersection of business, innovation, and design, engaging the most influential leaders, companies, and thinkers on the future of business. Since 2011, Fast Company has received some of the most prestigious editorial and design accolades, including the American Society of Magazine Editors (ASME) National Magazine Award for “Magazine of the Year,” Adweek’s Hot List for “Hottest Business Publication,” and six gold medals and 10 silver medals from the Society of Publication Designers. The editor-in-chief is Stephanie Mehta and the publisher is Amanda Smith. Headquartered in New York City, Fast Company is published by Mansueto Ventures LLC, along with our sister publication Inc., and can be found online at www.fastcompany.com.