Brex

It's not everyday that you sign a 10 figure deal 🤯 Thrilled to announce Brex's partnership with Fifth Third Bank today 🤝🏼 When I joined Brex 2 years ago I saw a massive opportunity to build a generational company that improved the lives of millions of employees at millions of companies. Part of that belief was rooted in the fact that the largest and most impactful companies in the world sit at the center of thriving ecosystems but most companies in our space were chasing hype instead of this clear, winning strategy. I'm so proud of all the work our partnerships team has done over the past 2 years to turn this vision into reality and the best part is we are nowhere close to finished. Can't wait to serve all these new customers. 🙌🏼 Check the comments for more details 🧵 : https://lnkd.in/dthYJhe8

Digital CPA in D.C. is KICKING OFF!!! If you’re not here, where are you?! 😁 Cc: Brex, Anshul Shah , David Lam , Leroy Kerry ,Deborah Defer , Todd Robinson , Tabs , Molly Shields, Abigail Pettit, CPA ,BDO Alliance USA , Jim Hayden , CPA.com Client Advisory Services , Abacor , Joe Manganelli Amalgam

Brex signed a new partnership that will more than triple the size of their embedded business. In Sept, Brex disclosed TPV for Brex Embedded was $2 billion. This new deal with Fifth third is for $5.6 billion. What more interesting is if this is the beginning of more banking partnerships. Banks need a solution to compete with modern card issuing platforms like Ramp or Brex that allow fine grained controls, approval workflows l, automated receipt capture, merchant level restrictions and so much more. The choice is buy, build or partner. Building won’t work. Buying the best solution is way too expensive for all but the top 5 banks…so partnering it is. Fifth Third is small in the world of business banking. They have 320,000 business clients. This compares with - JPM with around 7 million - BofA with around 4 million - AMEX with around 3.2 million (Small business card numbers are not provided, just overall SMB relationships). But now Fifth Third has better SMB card software than banks 10x their size. Curious to see what other partnerships are next. Today, Brex Embedded is a fraction of Brex $100 billion in TPV, a few more partnerships like this could change that fast.

Scenes from a day in NYC attending the DealBook Summit. My travel made possible thanks to Brex.

Tempo’s testnet is live! Any company can now build on a payments-first chain designed for instant settlement, predictable fees, and a stablecoin-native experience. Tempo has been shaped with a wide group of partners validating real workloads including Anthropic, Coupang, Deutsche Bank, DoorDash, Lead, Mercury, Nubank, OpenAI, Revolut, Shopify, Standard Chartered, and Visa. Since our announcement, Brex, Coastal, Cross River, Deel, Faire, Figure, Gusto, Kalshi, Klarna, Mastercard, Payoneer, Persona, Ramp, and UBS have also joined as design partners. Dedicated payment lanes, stablecoin gas, deterministic finality, a built-in stable asset DEX, and programmable smart accounts are all live on testnet. If you’re building or modernizing payment flows, you can start integrating and testing today.