Bank of the West, a subsidiary of BNP Paribas, and Brex, the company card that accelerates entrepreneurs and scaling companies, in the present day introduced a co-branded company card with no safety deposit and no requirement for U.S. credit score historical past. As the primary co-branded company card introduced by Brex, this card helps Bank of the West’s concentrate on enhancing the enterprise options obtainable to its business purchasers and follows the current launch of the Bank’s Innovation Hub, which affords devoted banking providers for startups.
The company card delivers Brex’s progressive fee choices, together with underwriting, expense administration and rewards options, to Bank of the West purchasers. Out there via Bank of the West’s Innovation Hub, startup business purchasers will obtain all key advantages supplied to Brex cardholders, together with premium rewards, simple card issuance and expense administration, in addition to computerized receipt seize.
“Bank of the West has a history of innovation in the commercial banking and payments space, providing solutions that maximize flexibility for clients looking to quickly scale their businesses and access much needed funds,” mentioned Jean-Marc Torre, Senior Govt Vice President, Head of Company and Industrial Banking, Bank of the West. “We are pleased to offer this new corporate card with Brex to our clients, providing them with access to the resources and funding growth companies and entrepreneurs need.”
Brex and Bank of the West started a pilot program for the company card in Q2 2019. In response to buyer demand and adoption, Bank of the West will roll out the product extra broadly to its North America business purchasers. Bank of the West and Brex co-branded company card prospects will obtain a 30,000 Brex rewards factors signup bonus upon spending $1,000 in prices .
“It is an honor to partner with a leading financial services brand like Bank of the West and we’re excited about collaborating with the bank in a combined offering that brings a high quality product experience to an expanded range of business customers,” mentioned Henrique Dubugras, co-founder and co-CEO of Brex. “This strategic relationship with Bank of the West provides us with the ability to meet our customers wherever they are: online, in brick-and-mortar, or a combination of both.”
Brex is reworking B2B funds by creating company playing cards, rewards, and journey packages which are tailor-made to particular industries. In 2018, Brex launched the primary company card and rewards program particularly designed for startups. By rebuilding the bank card tech stack from the bottom up, Brex is ready to reimagine each side of company playing cards, together with underwriting, transparency, and approvals, to create a radically higher expertise for patrons. Brex is backed by Y Combinator Continuity, Peter Thiel, Max Levchin, and extra, and has raised $315M in fairness and $100M in debt capital. The corporate’s headquarters are in San Francisco with a further workplace within the Salt Lake Valley.
About Bank of the West
At Bank of the West, your cash has values in addition to value. We all know cash deposited in a bank has the facility to finance optimistic change. So we’re taking motion to make sure our actions assist defend the planet, enhance folks’s lives, and strengthen communities. We’re redefining banking for a greater future by specializing in areas the place we consider we will have an actual impression: supporting power transition, serving to allow ladies entrepreneurs, and financing progressive start-ups. Because the bank for a altering world, Bank of the West is dedicated to sustainable finance together with our dad or mum firm BNP Paribas. By means of Digital Channels and workplaces throughout the U.S., Bank of the West offers monetary instruments and assets to greater than 2 million people, households and companies. © 2019 Bank of the West. Member FDIC. Equal Housing Lender. Doing enterprise in South Dakota as Bank of the West California.
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