Brex CEO Henrique Dubugras is currently working to raise over a billion dollars in a weekend to help fund an emergency bridge credit line that he believes will help startup customers impacted by Silicon Valley Bank’s collapse be able to make payroll next week. Dubugras declined to comment on how much capital has been committed for the credit line thus far, but said he’s on back to back calls trying to get funds locked down.
“We’re working with a lot of lenders this weekend, to basically raise as much money as we can afford,” Dubugras said. So far, over $1.3 billion of payroll loan requests has been made from over 500 applicants. “The same people who are requesting the $1 billion have around 10 billion in aggregate deposits [at SVB …
