Capital One Financial agreed on 22 January to acquire Brex, a corporate card, expense management and business payments platform, in a cash-and-stock transaction valued at $5.15bn.
Why Capital One Financial Corporation is buying Brex Inc.
Capital One chief executive Richard Fairbank said the acquisition would accelerate the bank's technology-led payments strategy, especially in the business payments market. Brex, founded in 2017, sells corporate cards, expense management software and banking services, and uses AI agents to automate finance workflows and reduce manual review.
“Acquiring Brex accelerates this journey, especially in the business payments marketplace.”
Deal terms and financing
Capital One agreed to pay about $2.75bn in cash and about 10.6 million shares of its common stock, according to its filing. The transaction was expected to close in the middle of 2026, subject to customary conditions.
Regulatory approvals and timing
Capital One announced on 7 April 2026 that it had completed the acquisition. Pedro Franceschi, Brex's founder, remains chief executive of Brex within Capital One.
Market context
Brex says more than 25,000 companies in over 50 countries use its platform, including DoorDash, TikTok, Robinhood, CrowdStrike and Zoom. Capital One, headquartered in McLean, Virginia, had $669.0bn in total assets at the end of 2025.
