Capital One Financial Corporation (NYSE: COF) has entered into a definitive agreement to acquire Brex, an AI-native software platform specializing in intelligent finance solutions for businesses, in a transaction valued at $5.15 billion through a combination of stock and cash.
The acquisition is set to integrate Brex’s offerings, which include corporate card issuance, automated expense management, and real-time payment capabilities. Brex also utilizes AI agents to streamline complex workflows, aiming to reduce manual review processes and enhance spend control for businesses.
Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer of Capital One, stated, “Since our founding, we set out to build a payments company at the frontier of the technology revolution. Acquiring Brex accelerates this journey, especially in the business payments marketplace.” He further added that Brex “invented the integrated combination of corporate credit cards, spend management software and banking together in a single platform,” noting its unique vertically integrated approach in fintech.
Pedro Franceschi, Founder and CEO of Brex, which was established in 2017, commented, “We started Brex in 2017 as a category creator – bringing together financial services and software into one AI-native platform.” He expressed anticipation for the partnership, stating, “Together, we’ll maximize founder mode by combining Brex’s payments expertise and spend management software with Capital One’s massive scale, sophisticated underwriting, and compelling brand to accelerate growth and increase the speed at which we can offer better finance solutions to the millions of businesses in the U.
S. mainstream economy.”
Upon the transaction’s completion, Mr. Franceschi will continue to lead Brex as a part of Capital One. The deal is projected to finalize in the middle of calendar year 2026, contingent on customary closing conditions.
Capital One, headquartered in McLean, Virginia, is a technology-based financial services company with $475.8 billion in deposits and $669.0 billion in total assets as of December 31, 2025. The company operates globally as a payments provider and diversified financial institution, serving markets in the United States, Canada, and the United Kingdom. Capital One is noted for being the only major U.
S. bank to have fully migrated its operations to the public cloud.
Brex’s intelligent finance platform supports over 25,000 companies across more than 50 countries, offering a combination of corporate cards, spend management software, and banking services. Its clientele includes companies such as DoorDash, TikTok, Anthropic, Robinhood, Crowdstrike, Zoom, Plaid, Intel, SeatGeek, and the Boston Celtics. The platform’s AI-powered automation and customer service aim to eliminate manual expense and accounting tasks for its users.
