Capital One acquires Brex for $5.15 billion

Capital One announced that it has entered into a definitive agreement to acquire Brex in a stock and cash transaction valued at $5.15 billion.

Brex is a modern, native software platform offering intelligent financial solutions that make it easier for companies to issue corporate cards, automate expense management, and make secure payments in real time. The company also uses AI agents to support customers in automating complex processes, reducing manual controls, and better managing expenses.

"Since our company's inception, we have strived to build a payments company at the forefront of the technology revolution," said Richard D. Fairbank, founder, chairman, and CEO of Capital One. "The acquisition of Brex accelerates that journey, particularly in the business payments market."

- Brex has created an integrated combination of corporate credit cards, expense management software, and banking services within a single platform. They have taken one of the rarest paths in the fintech world by building a vertically integrated platform—from the lowest layers of the technology stack to the highest, Fairbank added.

"We founded Brex in 2017 as a creator of a new category, combining financial services and software into a single, AI-native platform," said Pedro Franceschi, founder and CEO of Brex. "Now we can give new momentum to the next stage of development by working with the Capital One team. Together, we will combine Brex's expertise in payments and expense management with Capital One's vast scale, advanced underwriting, and strong brand to accelerate growth and increase the pace of delivering better financial solutions to millions of businesses operating in the mainstream U.S. economy.

Following the completion of the transaction, Franceschi will remain as head of Brex, operating within the Capital One structure.

The transaction is expected to close in mid-2026, subject to standard closing conditions.