Categories: B2B Payments

Brex Buys Three Companies

San Francisco-based FinTech startup Brex has acquired Neji, Compose Labs and Landria to help it build out its product offerings for growing businesses.

“Brex is committed to helping growing businesses scale, especially in challenging environments,” Henrique Dubugras, co-founder and co-CEO of Brex, said in a statement on Tuesday (March 24). “We look forward to bringing the talented team members at Neji, Compose Labs and Landria onto the Brex team.”

The cost of each deal was not disclosed.

Silicon Valley blockchain startup Neji focuses on business security and networking, and addresses issues related to scaling “distributed ledgers across hybrid-cloud and multi-cloud deployments.”

“Protecting customer data and assets is mission-critical to us at Brex, and so I am very excited to welcome Neji to the Trust team,” said Shruti Gupta, director of engineering at Brex. “The Neji team brings a wealth of experience at organizations including Google, Amazon and Microsoft. Prior to Neji, the team members worked together for over a decade across multiple technology companies.”

San Francisco startup Compose Labs specializes in next-generation video and runs CommonLounge, an intuitive platform for learning technology.

“Data engineering is critical to the future of our eCommerce product, as Brex seeks to ensure that we have 10x data advantages for all of the customers we underwrite,” offered Miguel Rios-Berrios, director of engineering, data, at Brex. “The team has founded several startups together over the last seven years, and has experience at Microsoft, MIT and the Indian Institute of Technology.”

Landria, also a San Francisco startup, creates internal knowledge databases and will help with Brex’s main digital framework. The startup streamlines SaaS solutions into one experience.

“The team at Landria is incredible, and we’re so fortunate to harness their talent and energy to strengthen the core infrastructure that powers the millions of transactions and thousands of customers on the Brex platform,” said Elena Tatarchenko, engineering manager at Brex. “The team worked together for two years and brings experience from organizations including Twilio, Palantir and the Central Intelligence Agency.”

Founded by engineers Henrique Dubugras and Pedro Franceschi in 2017, Brex has notched a total of $582.1 million to date. Investors include Y Combinator Continuity, Peter Thiel, Max Levchin and others.

Dubugras and Franceschi previously founded Brazilian payments firm

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The pressure on banks to modernize their payments capabilities to support initiatives such as ISO 20022 and instant/real time payments has been exacerbated by the emergence of COVID-19 and the compelling need to quickly scale operations due to the rapid growth of contactless payments, and subsequent increase in digitization. Given this new normal, the need for agility and optimization across the payments processing value chain is imperative.

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