Business FinTech firm Brex hired Karandeep Anand away from Meta and appointed him chief product officer (CPO) on the heels of an additional $300 million funding in a Series D-2 round led by Greenoaks Capital and Technology Crossover Ventures (TCV).
“Brex has always moved fast. But as the company has scaled, they’ve managed to get even faster, accelerating their growth since our last investment,” Neil Mehta, founder and managing partner of Greenoaks, said in a press release on Tuesday (Jan. 11).
“Brex is building a full financial operating system that keeps getting more comprehensive, all of which will delight existing customers and attract new ones. We are thrilled to continue working with the Brex team, and we look forward to being partners for years to come,” he said.
See also: B2B FinTech Brex Acquires API Commerce Platform Weav In $50M Deal
At Brex, Anand will lead the company’s product portfolio expansion efforts. He was the head of Meta’s business products group. Before that, he led product management strategy for Microsoft’s Azure cloud and developer platform.
“Brex is fundamentally transforming financial operations with a growing suite of innovative financial products and a magical user experience,” said David Zhang, partner at TCV.
The fresh infusion of capital will be used by Brex to further grow the company’s suite of business finance products. Founded in 2107 by Henrique Dubugras and Pedro Franceschi in Silicon Valley, Brex has raised a total of $1.2 billion from investors at a valuation of $12.3 billion.
Read more: FinTech Brex Applies For Bank Charter
Dubugras, co-CEO of Brex, said having Anand on the team is a great asset as “we expand our product portfolio.”
He pointed to Anand’s ability to understand the company’s customers and “build and scale business products with consumer-grade ease” and to surpass the needs and expectations that fast-growing businesses are seeking.
Anand called Brex a “market disruptor” that develops innovative financial products to generate “economic opportunity” for businesses worldwide.
“The opportunity ahead for Brex is expansive, and I’m grateful for the opportunity to create products that will help our customers grow their businesses,” Anand said.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More