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Brex partners with former competitor Zip, with an eye on reducing cash burn to get to an IPO
Brex has once again made the surprising, but perhaps realistic, decision to partner with another one-time competitor. This time Zip, the CEOs of both The partnership aimed at boosting Brex and Zip's offering to the enterprise.
Once Navan (formerly called TripActions) expanded from just offering travel services after the COVID pandemic hit into overall expense management, it was increasingly competitive with Brex. For example, companies which both Brex and Zip count as customers include Anthropic, eToro, BetterUp, Carta, Coinbase, Gong, Zapier, Wiz, NeuroLink, among others. In the case of its teaming up with Navan on travel, Franceschi said Brex recognized that it could meet its smaller customers’ needs but that it might benefit from help in serving its enterprise base.
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