Prior to the announcement earlier, Brex has acquired Y Combinator-backed Pry Financials for $90 million, the company told TechCrunch exclusively.
Brex raised $4.2 million in venture funding last year in a seed round of funding. Investors include Y Combinator, Global Founders Capital and Pioneer Fund, among others. The company’s software targets seed to Series B companies.
Originally, Brex was a startup focused on startups. Specifically, it provided corporate cards aimed mainly at startups and SMBs. Over time, Brex has gradually evolved its model with the aim of serving as a “financial operating system” for companies of all sizes.
Today, Brex says it still has “tens of thousands” of customers that are startups.
Paying $90 million for a 10-person company that has raised just over $4 million over its lifetime represents a bold move for Brex, and a great outcome for Pry’s founders and investors.
All 10 employees have been folded into Brex.
