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Brex buys financial management platform Pry

Brex buys financial management platform Pry

Corporate credit card fintech Brex has taken another step towards expanding its offering for founders, paying $90 million for Pry Financials, a software platform with tools designed to enable budgeting, bookkeeping and forecasting.

Pry enables founders to project cash flow, track budgets and scenario plan using dashboards and visualisations. The firm's technology is designed to make it easy to track and categorise revenue and costs, build a financial plan, and build customised formulas for forecasting.

Brex has built up a multi-billion dollar valuation off the back of its corporate card for venture backed businesses, but has since been expanding to offer SMEs and larger organisations cash management services and an all-in-one platform that adds spend management and bill pay software together in a single dashboard.

News of the Pry acquisition comes days after Brex revealed plans for the next stage of its expansion through a major push into software with the launch of Empower, a platform designed to increase the speed of businesses by "enabling a culture of trust and financial discipline".

Andy Su, Pry's co-founder and CEO. "Our goal has always been to help as many founders as possible run their business more efficiently. With Brex's scale and reach, we can have a much bigger impact right away."

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