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Protocol | Fintech

Brex valued at $7.4 billion in new financing

Startup Brex has raised $425 million in a deal led by Tiger Global. It's now worth $7.4 billion, up from just over $3 billion a year ago.

The company, which started off providing corporate credit cards for startups, and has expanded to payment and cash management products for small and medium sized businesses. Brex says its total customers increased 80% in the first quarter of 2021.

Competitor Ramp also recently raised a new round.

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