Capital One Financial Corporation (NYSE: COF) today announced that it has completed its acquisition of Brex in a combination of stock and cash transaction.
Brex is a modern, AI-native software platform offering intelligent finance solutions that enable businesses to issue corporate cards, automate expense management and make secure, real-time payments. The company also leverages AI agents to help customers automate complex workflows to reduce manual review and control spend.
“Brex invented the integrated combination of corporate credit cards, spend management software and banking together in a single platform,” said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer of Capital One. “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,” added Fairbank.
“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,” said Pedro Franceschi, Founder and CEO of Brex. “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.”
Franceschi will continue as CEO of Brex.
BofA Securities served as financial advisor and Wachtell, Lipton, Rosen & Katz served as legal advisor to Capital One, with Baker McKenzie providing counsel on certain foreign legal matters to Capital One. Centerview Partners LLC served as financial advisor and Wilson Sonsini and Simpson Thacher & Bartlett LLP served as legal advisors to Brex.
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About Brex
Founded in 2017, Brex is the intelligent finance platform that empowers growing companies to spend smarter and move faster. By combining a smart corporate card with intuitive spend management software and banking, Brex enables founders and finance teams to accelerate operations, gain real-time visibility, and control spend effortlessly. Brex’s AI-powered automation and world-class service eliminate manual expense and accounting tasks for customers.
About Capital One
Capital One Financial Corporation (NYSE: COF) is a leading technology-based financial services company with $475.8 billion in deposits and $669.0 billion in total assets as of December 31, 2025. Headquartered in McLean, Virginia, the company operates as a premier global payments provider and diversified financial institution, delivering a broad suite of products and consumer lifestyle and shopping experiences through its Credit Card, Consumer Banking including its Global Payment Network, and Commercial Banking lines of business. As the only major U.S. bank to migrate entirely to the public cloud, Capital One leverages proprietary data and advanced analytics to democratize financial tools across its primary markets in the United States, Canada, and the United Kingdom.
