Capital One Strikes $5.15B Deal for Fintech Startup Brex
Capital One has agreed to acquire Brex in a stock-and-cash transaction valued at $5.15 billion, significantly expanding the bank’s presence in business payments and expense management while diversifying revenue away from traditional consumer credit.
Brex operates a global payments and spend management platform used by high-growth companies including DoorDash and Robinhood, with operations spanning more than 120 countries. The combination gives Capital One deeper exposure to the corporate payments ecosystem.
“Since our founding, we set out to build a payments company at the frontier of the technology revolution,” said Richard D. Fairbank, Founder, Chairman, and CEO of Capital One. “Acquiring Brex accelerates this journey, especially in the business payments marketplace.”
Brex Founder and CEO Pedro Franceschi will continue to lead the company following the transaction, which is expected to close in mid-2026.
“Together, we’ll maximize founder mode by combining Brex’s payments expertise and spend management software with Capital One’s massive scale, sophisticated underwriting, and compelling brand,” Franceschi said. “This allows us to accelerate growth and deliver better financial solutions to millions of businesses in the U.S. mainstream economy.”
BofA Securities served as financial advisor to Capital One, with Wachtell, Lipton, Rosen & Katz acting as legal advisor. Centerview Partners advised Brex, with legal counsel provided by Wilson Sonsini, Simpson Thacher, and Skadden Arps.