US expense management fintech Brex is expanding to the EU. The San Francisco-based company has obtained an EU Payment Institution licence, allowing it to provide corporate cards, expense, and treasury tools to businesses throughout the region. Brex is also eyeing expansion into the UK and is planning to acquire a separate licence for UK customers soon. CEO and co-founder Pedro Franceschi announced, “Big news. Brex is coming to Europe!” Brex aims to serve more companies in the EU, already having 1,500 EU-operational customers. Previously, its services were limited to companies with a US presence. Franceschi noted that Brex is now the only “intelligent finance platform” with licences in both the US and EU. He stated, “This licence enables Brex to serve EU-based businesses with locally accepted cards and top-tier payment capabilities.” Brex has established an office in the Netherlands, where it obtained its licence, with a team of 12 handling sales, operations, and customer success. The company plans to begin a phased rollout for EU customers in the coming months, with full operations expected by early 2026. Brex was valued at $12.3 billion in 2022 and counts companies like Robinhood and Anthropic among its clients.
