Brex, a new charge card for startups and ecommerce businesses, offers business owners more reward options on better terms.
There’s plenty of new cards hitting the market, trying to change the terms of a typical credit card. Have you heard about Card? Well, Brex is a new business card for startups and ecommerce businesses that offers a new take on perks and payment terms.
Brex for Startups
Brex is rebuilding B2B financial products, starting with a corporate card for technology companies. Startups of all sizes (from recently incorporated to later-stage companies) can get a card that has 20x higher limits, completely automates expense management, kills receipt tracking and magically integrates with their accounting systems.
For startups, Brex doesn’t require a founder personal guarantee. Founders often don’t know that they’ve placed their personal assets on the line in exchange for business credit card financing because banks often neglect to bring it to their attention. Banks bury “personal liability” clauses in pages and pages of terms and conditions. For example, here’s how other business cards stack up:
Brex for Ecommerce
For ecommerce companies, Brex offers:
- Net 60 payment terms
- Revenue based limits (50-100% of monthly sales up to $5 million)
- Built in expense management
For both business types, Brex offers users:
- No Annual Fee
- No Foreign Transaction Fees
- No Interest Charges (30 Day Charge Card)
- Automatic Payment
If you make this card your company’s exclusive corporate card, the earnings become quite tempting.
Besides the rewards, theres a list of perks offered that include:
- $5,000 in Amazon Web Services credit
- $150 in Google AdWords
- 15% off your first six months at WeWork (not quite the free membership from AMEX)
- 25% off Salesforce
- 40% off Hubspot
- and more…
Stack up all the perks, value of their rewards and earning bonuses and now a lot of other business cards begin to struggle to compete.
Brex was founded by Henrique Dubugras and Pedro Franceschi, two engineers who previously founded Pagar.me, one of the largest payment processors in Brazil with over $1.5 billion in GMV. Brex is backed by the co-founders of PayPal (Max Levchin and Peter Thiel), Y Combinator, Ribbit Capital, Yuri Milner, and Carl Pascarella (former CEO of Visa).
Here’s all the fine print, with a comparison to terms and options of other top business credit cards:
For more information on Brex, click here.
The post 7x Rewards on Ride Share with Brex: The New Card for Startups was first published on Coworkaholic.