- M&A
- January 23, 2026
- 3 minutes read
Capital One To Buy Fintech Firm Brex For $5B
U.S. banking giant Capital One (NYSE: COF) has struck a deal to acquire Brex, a San Francisco-based fintech firm. Capital…
U.S. banking giant Capital One (NYSE: COF) has struck a deal to acquire Brex, a San Francisco-based fintech firm. Capital One will pay $5.15bn in cash and stock for Brex, a provider of corporate credit cards and expense management tools.
- Brex was founded in 2017 by Brazilian entrepreneurs Henrique Dubugras and Pedro Franceschi to offer credit cards and expense management tools for fast-growing startups. It initially focused on technology startups with limited access to corporate credit cards, before broadening its customer base over time.
- Since its founding, Brex has raised $1.5bn in equity funding and was valued at $12bn by private investors in 2022. The roughly $5bn price tag, split equally in cash and Capital One stock, represents less than half of Brex’s peak valuation.
With Brex, Capital One gets another addition to its suite of financial services, spanning credit cards, checking & savings bank accounts, and auto loans. The Virginia-based banking giant oversees $476bn in deposits and $669bn in assets, making it one of the largest in the U.S. It reported a net profit of $2.2bn in 2025, down from $4.4bn in 2024.
Post-acquisition, Brex co-founder and chief executive Pedro Franceschi will continue to lead the company as a Capital One subsidiary. Barring regulatory hurdles, the deal is expected to close in mid-2026.
