TechCrunch reports that credit card FinTech Brex will reach $12.3bn in its latest deal.
In Brief:
TechCrunch says Brex has just signed a term sheet for $300mn at a $12.3bn valuation.
The investment is reportedly led by Greenoaks.
TechCrunch says it has spoken to people “familiar with the deal” but Brex and Greenoaks have not commented, but sources say a term sheet has been signed.
What does this mean?
This would be a fairly swift increase in valuation from $7.4bn earlier this year, and it will become a “decacorn” following the current deal. Brex offers credit card solutions for corporate spend management, a space which is growing especially as businesses place yet more scrutiny on their bottom line post-Covid.
