Capital One announced it has completed its $5.15 billion acquisition of Brex in a cash-and-stock transaction, marking a significant move to expand its capabilities in business payments and AI-driven financial software.
Brex brings a modern, AI-native platform that integrates corporate credit cards, expense management, and banking into a unified system. The platform enables businesses to automate financial workflows, manage spending in real time, and leverage AI agents to reduce manual processes and improve operational efficiency.
The combination pairs Brex’s software-first, automation-driven approach with Capital One’s scale, underwriting expertise, and established brand in financial services. The company’s aim is to accelerate innovation in the business payments space and deliver more advanced tools to corporate customers.
Founded in 2017, Brex has positioned itself as a leading intelligent finance platform for growing companies, offering real-time visibility into spending and streamlined financial operations. Following the acquisition, Pedro Franceschi will continue to lead the company.
Capital One, headquartered in McLean, Virginia, reported $475.8 billion in deposits and $669.0 billion in total assets as of the end of 2025, and continues to position itself as a technology-driven financial institution leveraging cloud infrastructure, data, and advanced analytics.
Support: Advisors on the transaction included BofA Securities and Centerview Partners as financial advisors, along with legal counsel from Wachtell, Lipton, Rosen & Katz, Baker McKenzie, Wilson Sonsini Goodrich & Rosati, and Simpson Thacher & Bartlett.
KEY QUOTES
“Brex invented the integrated combination of corporate credit cards, spend management software and banking together in a single platform. This is a gamechanger for business customers.”
“Brex’s expertise and AI-native technology combined with Capital One’s scale, sophisticated underwriting and iconic brand creates a transformational opportunity in the business payments space.”
Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer of Capital One
“Brex was built on the belief that finance teams shouldn’t have to choose between speed and control. Joining forces with Capital One means we can deliver on that promise for even more businesses faster and at a scale that would have taken us years to build independently. Rich and the Capital One team share our same founder-led conviction, and together we have the infrastructure, resources, and ambition to build something neither of us could have built alone. The opportunity from here is massive, and we’re just getting started.”
Pedro Franceschi
