The logo and ticker for Capital One are displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., May 21, 2018. REUTERS/Brendan McDermid
McLean-based credit card banking giant Capital One Financial announced Thursday it has entered an agreement to acquire fintech company Brex in a $5.15 billion stock and cash deal.
Founded in 2017 by two Brazilian entrepreneurs and headquartered in Salt Lake City, Utah, Brex offers business credit cards and cash management accounts for tech companies. It uses artificial intelligence agents for some customers to automate their workflows and control card spending.
”Since our founding, we set out to build a payments company at the frontier of the technology revolution,” Capital One Chairman and CEO Richard D. Fairbank said in a statement. “Acquiring Brex accelerates this journey, especially in the business payments marketplace. Brex invented the integrated combination of corporate credit cards, spend management software and banking together in a single platform. They have taken the rarest of journeys for a fintech, building a vertically integrated platform from the bottom of the tech stack to the top.”
Pedro Franceschi, co-founder and CEO of Brex, will continue to lead the business after it becomes part of Capital One, a deal expected to close mid-year.
“We started Brex in 2017 as a category creator – bringing together financial services and software into one AI-native platform,” Franceschi said. “Now we get to supercharge our next chapter in partnership with the team at Capital One. Together, we’ll maximize founder mode by combining Brex’s payments expertise and spend management software with Capital One’s massive scale, sophisticated underwriting, and compelling brand to accelerate growth and increase the speed at which we can offer better finance solutions to the millions of businesses in the U.S. mainstream economy.”
The acquisition comes months after Capital One’s $35 billion merger with Discover in June 2025, the company’s largest ever purchase.
As of Dec. 31, 2025, Capital One had $475.8 billion in deposits and $669 billion in total assets.
o
