Partnerships / Acquisitions

FinTech Brex Teams With JetBlue On Rewards Points Transfer

FinTech, Brex, credit cards, JetBlue, rewards points, points transfer partnership

Silicon Valley credit card startup Brex has begun a points transfer partnership for its rewards program with JetBlue Airways, Brex announced in a press release on Tuesday (Sept. 24). The partnership allows customers to use Brex rewards points on JetBlue’s TrueBlue loyalty program.

JetBlue is an innovative and exciting brand and Brex is thrilled to offer access to their valuable TrueBlue loyalty program within the Brex Rewards platform,” said Brex Co-Founder and Co-CEO Henrique Dubugras. “JetBlue is one of the most popular airlines among the Brex customer base, with its deep route network in innovation hubs, commitment to free, high-speed Wi-Fi and friendly customer service. There is a strong alignment between our organizations.”

The program reinforces Brex’s airline transfer platform, which is offered alongside travel booking and statement credit. 

“The Brex offering stands out among corporate credit cards and brings an exciting customer demographic to JetBlue,” said JetBlue Vice President, Loyalty and Personalization Don Uselmann. “We’re excited Brex cardholders can now use their rewards points for points transfer into our award-winning TrueBlue loyalty program.”

To mark the debut of the points transfer partnership, Brex is giving away five JetBlue round-trip flights to customers who redeem the most Brex Points for TrueBlue points between Sept. 24, 2019, and Oct. 24, 2019. 

Since rolling out its first credit card for startups last year, Brex has expanded into new markets. In February it launched a credit card geared toward eCommerce businesses. The credit card for eCommerce businesses has 60-day payment terms, interest-free financing and rewards that are tailored to that group’s needs. 

 Brex has raised $315 million to date. In June, the startup raised $100 million in venture funding, giving the company a valuation of $2.6 billion. In April it raised $100 million in debt capital from Barclays in the form of a warehouse line of credit.

The company has been enjoying fast-paced growth as its strategy to tailor credit cards to the needs of specific industries appears to be resonating with the business class. Brex extends credit to startups based on the amount of money in their corporate bank accounts. For its eCommerce credit card, it underwrites based on sales.

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