Corporate spend management firm Brex is taking its new all-in-one software package Bex Empower global, serving employees from US-based companies in more than 100 countries across card, spend management, and reimbursements.
Brex launched in 2017 with a corporate card for venture backed businesses, before expanding to offer SMEs and larger organisations cash management services.
Brex Empower was introduced last month and will serve as the foundation for all Brex products moving forward.
“Today, the pace at which fast-growing companies based in the US are hiring talent around the world is increasing significantly,” says Henrique Dubugras, co-founder and co-CEO of Brex. “We are excited to empower global teams with the same great spend management experience they have come to expect from Brex in the US, and to allow finance teams to easily manage global budgets, reimbursements in local currencies, and global reconciliation. By streamlining the global spend process, we can help fast-growing companies increase the speed of business.”
Brex has recruited Deel, the global payroll and compliance provider, as one of the first customers to use the new global capability across its 7,500+ customers in more than 150 countries. Deel is also a partner, and Brex will integrate Deel into the Brex Empower platform to support international payroll, benefits, taxes, and compliance.
Dubugras says that later this year, Bex will enable companies to manage their local subsidiaries on Brex with card statements and collections in local currency, and the ability to pay those — along with bills and reimbursements — from domestic or international bank accounts.