Brex cofounders Pedro Franceschi (left) and Henrique Dubugras Brex

Fintech startup Brex has closed on a $125 million round just 4 months after its public launch in what marks as one of the largest funding rounds for an early stage startup and a shoot into the unicorn club with a $1.1 billion valuation coming with this round led by Greenoaks Capital, DST Global and IVP.

Brex which has now raised about $200 million to date will steer this funding towards enhancing growth and features for its corporate card for startups service.

“We started Brex to provide a superior corporate card to startup founders failed by legacy products,” Henrique Dubugras, co-founder and CEO of Brex said in a statemet. “With this fresh funding, we are able to enhance our growth efforts and continue to benefit founders and operators, particularly those who are unable or hesitant to personally guarantee their company’s corporate card.”

Brex was founded just last year and participated in the Y Combinator Winter’17 batch while launching publicly this June with several customers which include Flexport, SoFi, LendingHome, Color Genomics and Y Combinator as well.

Brex helps startups of all sizes (from recently incorporated to later-stage companies) to instantly get cards with 20x higher limits and automates expense management and very well integrates with accounting systems.

Henrique Dubugras and Pedro Franceschi, The 2 Brex founders previously founded Pagar.me, One of Brazil’s largest payment processors with over $1.5 billion in Gross merchandise volume. Other notable investors in  Brex includes PayPal co-founders Max Levchin and Peter Thiel, Ribbit Capital, SV Angel, Brazillian business tycoon Jorge Paulo Lemann, Tiger Global head Chase Coleman and DST head Yuri Milner.

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