Mere weeks after rival corporate spend startup Ramp announced that it raised a two-part round worth $115 million at a $1.6 billion valuation, this morning Brex disclosed a $425 million Series D led by Tiger Global.
The new capital marks Brex’s largest fundraise to date, and was compiled at a valuation that is more than double its most recent private valuation. According to Crunchbase data, Brex’s mid-2020 Series C valued the company at just over $3.0 billion, including the investment’s $150 million in issued equity.
The dueling rounds raised by Brex and Ramp underscore how active their product category is proving to …
