Henrique Dubugras

So every time someone swipes our card, we get a certain percentage that's fixed by Visa or MasterCard.

I think that it's different in the sense that it's very, you know, FX focused versus most of our customers are very focused on just day-to-day expenses.

So we're the main card, you know, we're paying a meal that you go with a client or your AWS bills or your Google advertising, things like that.

2017.

Um, I moved to San Francisco two weeks after I sold the first company.

Um, so my co-founder is the same I had for Pagarman.

Uh, we actually met, uh, over Twitter, uh,

fighting text editors.

So I was one called Bim, he was one called Emacs, and then it got super complicated to argue over 140 characters.

We went to Skype, and on Skype we became super good friends and decided to start a company together.

That was Pagarment.

We worked together for three and a half years.

We both got into Stanford, and then we both sold the company, moved up here, and started Brex together.

There was Winter 17, so just from January to March 17, within that class is where we had the idea of Brex, because we saw a lot of our classmates on YC that couldn't get corporate credit cards, or the ones that could, they had to personally guarantee, even though some of them had raised millions of dollars, so that's kind of where we had the idea.

Because they're a startup, and they don't have any financial history, but

The way it's actually underwritten is not on cash in the bank.

It's based on financial history.

So because they were recently incorporated, it's really hard.

So what a lot of banks do is ask for these founders to say, hey, you don't have any corporate financial history, but you have personal financial history.

Why don't you personally guarantee the card saying that if the company goes under, you'll pay everything?