Brex’s two twenty-something founders are now billionaires, thanks to a lofty new funding round announced this week that nearly doubled the valuation of their five-year-old fintech firm. The San Francisco-based startup—which is aiming to overhaul the corporate credit card—confirmed on Tuesday that it has raised $300 million in a funding round led by investment firms Greenoaks Capital and Technology Crossover Ventures (TCV), giving it a $12.3 billion valuation—a sizable jump from the $7.4 billion valuation it fetched just nine months ago. Cofounders (and co-CEOs) Henrique Dubugras, 26, and Pedro Franceschi, 25, each hold a 14% stake in Brex, Forbes estimates, worth about $1.5 billion apiece. (Forbes discounts the value of privately held companies.) The pair declined to comment on Forbes’ estimates but Dubugras did speak with Forbes about his startup’s path to success. Brex cofounders and co-CEOs Henrique Dubugras (left), 26, and Pedro Franceschi, 25, met through a spirited Twitter exchange when they were high school seniors in Brazil. Photo courtesy of Brex The young fintech has made a name for itself with a corporate credit card tailored to the needs of startups. It remains Brex’s marquee product, and the interchange fees merchants pay when employees swipe Brex’s cards constitute…
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Two Friends Who Met On Twitter In High School Are Latest Under-30 Billionaires – Forbes
