Fast-growing fintech Brex has raised $300 million in funding that propels it to decacorn status, just six months after it was valued at $7.4 billion, according to people familiar with the deal.
The sources, who wished to remain anonymous since the deal is not yet public (although a term sheet has been signed), said corporate spend startup Brex is now valued at $12.3 billion. Greenoaks is said to be leading the investment, which also reportedly includes return backers who want more of a stake in the company after seeing the “strength” of the business. Brex is on track to double revenue this year, according to the sources.
Neither Brex nor Greenoaks responded to requests for comment.
Founded in 2017 by Ped …
