Brex, a provider of financial software and services geared for startups, Tuesday (April 19) announced it has acquired Pry Financials, a financial modeling platform oriented toward the same market.
The price was $90 million.
Pry offers Excel-like applications that simplify tasks such as financial forecasting, budgeting, hiring and modeling cash-flow.
“We first heard about Pry from Brex customers and founders. Each and every one raved about how impactful Pry has been to their business and how it helped simplify the management of their finances,” Pedro Franceschi, who co-founded Brex with fellow Stanford University dropout Henrique Dubugras, said in a prepared statement.
“Pry was designed from the ground up to help founders understand their business simply and efficiently. To help them scale, raise their next round of funding or plan an exit,” said Dubugras, who is chief executive of Brex.
Pry lets companies link their bank accounts with popular applications such as Quickbooks and Xero.
San Francisco-based Brex noted in the announcement that Pry used its own software to share financials with Brex during the acquisition process.
Read more: Brex Launches Financial Software to Speed Business Efficiency
Brex said it intends to scale Pry “so founders and finance teams reliably manage expenses and planning in Pry, and then seamlessly deploy budgets and spending workflows in Brex, all within the same product experience.”
Brex stated it intends to migrate Pry into the Brex Empower platform.
Pry, also based in San Francisco, was founded in 2019, according to Crunchbase.
According to Crunchbase, Pry has held three funding rounds that raised a total of $4.2 million from investors, including Y Combinator.
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