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Don’t Charge It, Brex It

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Don’t Charge It, Brex It

Silicon Valley is home to thousands of B2B startups—and one of the the newest B2B  unicorns. Brex offers a corporate credit card more built around the ever-changing needs of a startup, and they’ve been valued at over $1 billion. One of the secrets? Champagne and chocolate.

Brex’s overall success has tied heavily into their bold marketing, and on this episode of RTU, Chief Sales Officer Sam Blond, and CFO/CMO Michael Tannenbaum, discuss it in detail. From identifying your targets, to orchestrating outdoor campaigns, to in-depth attribution models, Brex has been firing on all cylinders. Listen in to learn more.

What You’ll Learn

How Brex found its current market

Brex is located in Silicon Valley, where there are thousands of B2B startups. Brex’s founders stumbled upon the painfulness of managing corporate credit cards when they could not get a credit card for one of their own new businesses. Their experience demonstrated a business opportunity and a marketplace in the niche of corporate cards for startups. Typically, founders of startups have to personally guarantee a corporate card. Even with millions of dollars in the bank, these businesses would have 20k-30k spending limits placed on them that were nowhere high enough to support the spending of a company. Brex instead uses a business’s bank accounts and bank activity to determine the spending limits on corporate cards. Michael and Sam point out that startups move and grow too quickly to have spending limits determined on a yearly basis, so Brex is constantly evaluating what a business needs and what limits will be. Their business model has resonated especially with tech startups and B2B businesses in Silicon Valley.

For the whole article: http://bit.ly/2D1VN9w

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