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IPO hopeful Brex scored major win to sell in the EU, plans UK expansion
The EU has authorized Brex to sell its spend management products directly in all 30 countries "no workarounds required," Pedro Franceschi said.
That means it can now directly issue credit and debit cards and offer its spend management products to any business in all 30 EU countries with “no workarounds required,” as co-founder and CEO Pedro Franceschi wrote in a blog post. With the expansion, Brex is now authorized to sell spend management (complete with issuing cards) and other tools like embedded payments to EU companies and startups, a spokesperson tells TechCrunch. Brex’s claim to fame is offering startups expense management cards for their employees even if they wouldn’t yet qualify from traditional banks.
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