💳 How Brex Raised $57M and Rebuilt Startup Banking

The story and deck behind one of fintech’s fastest-scaling startups

Nov 08, 2025

Imagine having millions in your startup bank account and still getting rejected for a credit card.
That was the reality for most founders before Brex.

In 2017, two engineers from Brazil decided to fix it. They built a corporate card that approved startups instantly, offered twenty-times higher limits, and synced seamlessly with accounting tools.

Brex founders Henrique Dubugras and Pedro Franceschi presenting the Brex Series B pitch deck in 2019 — *Brex’s 2019 Series B deck that convinced top investors to back a new way for startups to manage money.*

What started as a simple idea turned into $1.5 billion in funding and one of the biggest fintech success stories of the decade.

About Brex

The product

Brex gives startups a corporate credit card that actually works for them. No personal guarantees. No receipts chaos. Real-time tracking that plugs straight into your finance stack.

The founders

Henrique Dubugras and Pedro Franceschi had already built Pagar.me, one of Brazil’s largest payment processors with more than $1.5B in volume. Brex was their second act — faster, cleaner, and global from day one.

The backers

Brex attracted the kind of investor lineup founders dream about: Max Levchin and Peter Thiel from PayPal, Y Combinator, Ribbit Capital, Yuri Milner, and Carl Pascarella, former CEO of Visa.

The moment

This deck comes from their $57M Series B in 2019, right when Brex proved that “startup finance” could be a massive standalone category.

Why this deck matters

Brex solved a universal pain with a clear story.
▫️ The problem: banks didn’t understand startups.
▫️ The insight: new companies have cash but no credit history.
▫️ The product: instant approval, automated spending, and smart limits.

Every slide shows focus. No fluff, no over-design, just a clean narrative that made investors nod instantly.

Pitch Deck Review

Let’s be honest: this deck isn’t perfect.
It’s short, simple, and feels closer to a seed deck than a Series B one.

But that’s the point. Brex didn’t need a masterpiece. They had traction, pedigree, and investor demand. Henrique once said they built the deck in two days because VCs were asking for something to look at.

If you don’t have that kind of pull, take it as a reminder:
▫️ Simplicity works when the story is obvious.
▫️ Depth matters when you still need to prove it.

It’s worth studying not to copy, but to think about what you would do better — how to take the same clarity and add the substance investors expect from you.

The Deck

Below is Brex’s full Series B pitch deck. It’s one of the clearest examples of how to communicate both vision and execution in fintech.

📈 View the full Brex pitch deck below:

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