SAN
FRANCISCO, Feb. 24, 2025 /PRNewswire/ -- Brex,
the modern spend platform for growing businesses from startups to
enterprises, today announced its enterprise business grew revenue
80%, while net revenue retention was nearly 140% YoY. This past
year, Brex's overall revenue growth grew threefold with net revenue
retention up 15 points.
Brex now serves over 150 public companies and global industry
leaders such as Anthropic, Arm (NASDAQ: ARM), Robinhood (NASDAQ:
HOOD), ServiceTitan (NASDAQ: TTAN), Sonos (NASDAQ: SONO) and Wiz.
In total, Brex's enterprise customers have an estimated market cap
of more than $2.9T. The continued
addition of blue-chip customers underscores the rapid growth in
Brex's enterprise business over the past year, following
triple-digit growth the year prior.
As enterprise CFOs and finance leaders navigate an evolving
business and economic landscape – facing inflation, potential
tariffs, rising costs of capital and more – they've had to adapt
how they manage spend and the platforms they use. Main priorities
now include vendor consolidation, seamless global operations,
accounting automation, and more granular spend controls. CFOs no
longer want to rely on point solutions and disparate third-party
tools to manage their company's finances. Instead, they are
choosing integrated, interoperable solutions that help them reduce
overhead and gain real-time visibility to empower them to make
better business decisions. Today, Brex is the only platform
uniquely positioned to meet all of these needs, with finance
leaders trusting Brex to deliver a premium implementation
experience and best-in-class support.
"In the past year, Brex has proven itself to be the leader in
spend management for enterprise businesses," said Pedro Franceschi, CEO of Brex. "Our proprietary
global financial infrastructure is the only solution that can
reliably support companies with global, multi-currency operations,
offering locally issued corporate cards, local settlement, and
local reimbursements across 50+ countries. It's a strong market
signal when leading enterprise businesses like Arm, Robinhood,
ServiceTitan, Sonos, Wiz, and so many more confidently use Brex to
control spend, operate globally, automate their close, and make
every dollar count."
"We chose Brex as our spend provider because they truly
understand the nuances of managing the financial complexities of a
rapidly growing global company. Not only is Brex uniquely able to
issue local cards in the currencies we operate in today, BrexPay
for Navan also enables us to achieve 100% reconciliation of our
global travel and expenses," said Adam
Dix, Head of Finance Operations at Anthropic.
"Before Brex, we had multiple point-solutions for spend
management. This was unsustainable, and did not facilitate
effective control, transparency, or scalability. With Brex, we can
easily manage our global spend in one place," said Gaurav Saxena, Senior Director at Robinhood.
Simplifying our financial workflows and gaining real-time
visibility into our spend data was essential for us when looking
for a corporate card and spend management solution - and we found
that with Brex. Now we have a consolidated financial stack that
directly integrates with the tools we already use, allowing us
better visibility and control," said Connor
Theilmann, Chief Business Officer at ServiceTitan.
About Brex
Brex is the modern spend platform,
combining the world's smartest corporate card with integrated
expense management, banking, bill pay, accounting automation,
travel, and more. Brex makes it easy to control spend before it
happens, automate manual work, and optimize your finances. That's
why over 30,000 companies from startup to enterprises — including
Anthropic, SeatGeek, and DoorDash — use Brex to make every dollar
count. Founded in 2017, Brex enables tens of billions of dollars in
transactions every year across 120 countries. To learn more, visit
brex.com.
Contact
Danielle
Bereznak, Director, External Communications
press@brex.com
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SOURCE Brex
