Brex is Set to Expand Globally with EU Payment Institution License Acquisition

Brex Secures EU Payment Institution License

In a significant step forward for global finance solutions, Brex, a leading intelligent finance platform, has officially secured a Payment Institution (PI) license in the European Union through its operations in the Netherlands. This milestone allows the innovative financial platform to enhance its services for businesses throughout Europe while accelerating its growth strategy internationally.

Brex's newly acquired license positions it as a game-changer in the financial technology landscape, as it will enable direct issuance of commercial credit cards and support other essential payment operations such as direct debits and credit transfers across the entire EU. This expansion arrives during a time when Brex already serves a robust client base of 1,500 companies with operations in Europe, signaling a strong demand for comprehensive financial management tools tailored to diverse international markets.

"Over the last seven years, we’ve established the global payments infrastructure needed to support more than 200 countries and over 60 currencies," stated Pedro Franceschi, CEO and Co-Founder of Brex. With the granting of this license, Brex takes a significant leap towards serving businesses based and operating within the EU directly, providing them with locally accepted cards and state-of-the-art payment capabilities.

One standout client benefiting from Brex's innovative platform is Ooni, a worldwide leader in home pizza ovens. The company has employees located across multiple regions, including the U.K., Germany, and Australia. Mark Topping, Ooni’s Group Finance Manager, highlighted, “One of the attractions of Brex was its global platform. It’s one system employees can log into regardless of where they are.” This underscores how Brex facilitates streamlined financial operations for companies with international reach, enhancing their operational efficiency and cutting down on reliance on disparate financial systems.

The license acquisition also sets the stage for Brex to launch its extensive product offerings, including corporate cards, expense management tools, and treasury capabilities, to European enterprises. Additionally, the company plans to secure a separate license for its customers in the UK to broaden its service deployment even further.

Brex’s commitment to product expansion aligns perfectly with the growing trend of businesses operating across borders. Nearly half of Brex's current users are engaged in multiple countries, and the demand for cohesive financial solutions tailored to manage cross-border complexities continues to grow.

To ensure successful onboarding of new EU clients, Brex is preparing a phased rollout, with plans to fully operationalize its services by early 2026. To facilitate this, Brex has established offices in the Netherlands, complete with local teams across sales, operations, and customer success, already deploying a dedicated staff to manage growth in the region.

As entrepreneurs and finance teams around the world look for platforms that provide ease of use alongside comprehensive management capabilities, Brex is clearly positioned to meet these needs head-on. The company's strategic approach to deepening its competitive advantage within the sector is commendable, showcasing dedication to innovation that stands to benefit a vast array of businesses worldwide.

Pedro Franceschi expressed pride in the recent license acquisition, emphasizing its crucial role for Brex and the global founders they serve. “This is just the beginning,” he remarked, hinting at even more ambitious goals aimed at revolutionizing financial services.

Overall, Brex's initiative to enhance its capabilities in Europe marks an essential step in the ongoing evolution of financial technology as it seeks to cater more effectively to the needs of a diverse and dynamic global market. A bright future lies ahead as Brex continues to expand its horizons, providing smart financial solutions that empower businesses to thrive globally.