MCLEAN (dpa-AFX) - Capital One Financial Corporation (COF) Thursday said it has agreed to buy Brex, in a combination of stock and cash transaction valued at $5.15 billion.
Brex is a modern, AI-native software platform offering intelligent finance solutions that make it easy for 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.
'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 Chief Executive Officer of Capital One. 'Acquiring Brex accelerates this journey, especially in the business payments marketplace.'
'Brex invented the integrated combination of corporate credit cards, spend management software and banking together in a single platform. They have taken the rarest of journeys for a fintech, building a vertically integrated platform from the bottom of the tech stack to the top,' added Fairbank.
Upon completion of the transaction, Franceschi will continue to lead Brex as part of Capital One.
The transaction is expected to close in the middle of calendar year 2026, subject to the satisfaction of customary closing conditions.
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