back Back

Brex announces expansion of its global footprint

By Delisha Fernandes

May 09, 2023

  • Brazil
  • Brex
  • Fintech news
Share

BrexBrex has announced new global capabilities that significantly expand its ability to support US multinational businesses in Brazil, Canada, Israel, Japan, Mexico, Singapore, South Africa, the Philippines, 36 European countries, and more.

In addition to spending and paying in local currencies, Brex is launching VAT tracking and multi-currency expense policies. These capabilities ensure customers remain tax-compliant locally in all countries by making it easy for employees to follow local tax regulations.

“Our goal is to create an integrated global platform that enables all companies to spend globally and operate locally,” said Henrique Dubugras, co-founder and co-CEO of Brex. “Not all businesses have the same needs when it comes to their global operations, but Brex can help solve all use cases, whether that be managing local spend and compliance for international subsidiaries, reimbursing employees overseas, or paying vendors across the world.”

In the last 6 months, Brex has seen a 5x increase in the share of spend management users outside the US, and nearly 50% of customers on the Empower platform have globally distributed teams.

“We have been able to consolidate multiple card providers across the US, Europe, and Israel into one,” said Mike Duffy, Director, Assistant Controller at Lemonade. “Now we are able to see and analyse spend across our entities in one dashboard.”

“Along with improving the employee experience for our teams in India, we are also able to track their regional benefits alongside our domestic teams’ spend, including travel and procurement,” said Albert Gonzales, Senior Accounting Manager at GoGuardian, the educational technology company.

Previous Article

May 09, 2023

Standard Chartered expands its partnership with Tazapay

Read More
Next Article

May 09, 2023

ONE ZERO selects ViewTrade as tech partner for Securities Trading Platform

Read More









IBSi Daily News Analysis

Middle East, Egypt

January 16, 2024

Brazil

Egypt among top remittance recipient countries in 2023: World Bank

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Storfund & Mangopay to ease cash flow for marketplace sellers

Read More

Today

Revolut teams with Jabil to scale development of mobile payment solutions

Read More

Today

Finastra taps Databricks to boost AI capabilities & enhance services

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023