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Brex leaving adrift some SMB customers roils corporate spend market



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Brex’s decision to largely exit the SMB market has caught its customers, market observers and even its competitors by surprise. And while the affected customers scramble to move their assets off Brex’s platform, its rivals are taking aim at the fintech and the market it’s leaving behind.
The decacorn’s decision puts a potentially material customer cohort into play, meaning that Brex’s rivals are likely gearing up to try and attract the accounts left adrift.
TechCrunch heard from a number of Brex rivals on the matter, providing us a feel for how the market views the company’s decision. Naturally, as we’re discussing competitors, they had quite a lot to say about their own products.
So to avoid being overly generous to the competing entities, we have bucketed their observations into two areas: notes on the business model and customer-related points. We’ve tried to only share observations that describe the corporate spend market more generally and not why one particular company …

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