Capital One announced it has completed its $5.15 billion acquisition of Brex in a cash and stock transaction. This marks a significant move to expand the capabilities of business payments and AI-driven financial software.
Brex brings a modern, AI-native platform that unifies corporate credit cards, expense management, and banking into a unified system. The platform allows businesses to automate financial workflows, manage spend in real-time, and leverage AI agents to reduce manual processes and improve operational efficiency.
The combination combines Brex’s software-first, automation-driven approach with Capital One’s scale, underwriting expertise and established brand in financial services. The company’s objective is to accelerate innovation in the business payments space and provide more advanced tools to business customers.
Founded in 2017, Brex has established itself as the leading intelligent finance platform for growing businesses, providing real-time visibility of spend and streamlined financial operations. Following the acquisition, Pedro Franceschi will continue to lead the company.
Capital One, headquartered in McLean, Virginia, reported $475.8 billion in deposits and $669 billion in total assets at the end of 2025, and continues to position itself as a technology-driven financial institution that leverages cloud infrastructure, data, and advanced analytics.
support: Advisors to the transaction included BofA Securities and Centerview Partners as financial advisors, and legal advisors from Wachtell, Lipton, Rosen & Katz, Baker McKenzie, Wilson Sonsini Goodrich & Rosati, and Simpson Thacher & Bartlett.
important quotes
“Brex invented the integration and combination of business credit cards, spend management software, and banking in one platform. This is a game-changer for business customers.”
“The combination of Brex’s expertise and AI-native technology with Capital One’s scale, sophisticated underwriting and iconic brand creates a transformational opportunity in the business payments space.”
Richard D. Fairbank, Capital One Founder, Chairman, and Chief Executive Officer
“Brex was built on the belief that finance teams shouldn’t have to choose between speed and control. Partnering with Capital One means we can deliver on that promise to more companies faster, at a scale that would take years to build alone. Rich and Capital The One team shares the same founder-led beliefs, and together we have the infrastructure, resources, and ambition to build something neither of us could have built alone. The opportunity from here is huge, and we are just getting started.”
Pedro Franceschi
