As a startup founder and self-proclaimed tech geek, I‘m always on the lookout for tools that can help streamline my company‘s operations and give us a competitive edge. When it comes to managing our business spend, the clear winner in recent years has been Brex.
Brex has revolutionized the corporate card space by offering a unified platform for credit cards, expense management, bill pay, reimbursements, and more. It‘s become an indispensable tool for thousands of startups and fast-growing companies around the world.
One of the coolest things about Brex is the referral program. If you sign up using a Brex referral link, you‘ll get a $250 Amazon gift card after spending $1,000 on your card. The person who refers you also gets $250, so it‘s a nice way to spread the Brex love and earn some extra cash for your company.
In this post, I‘ll dive into what makes Brex so powerful as a spend management solution and share my honest take on how it stacks up against competitors. I‘ll also walk you through how to get your $250 referral bonus and maximize the value of the platform. Let‘s get into it!
What is Brex? A Unified Spend Management Stack
Brex is an all-in-one spend management platform built specifically for startups and growing companies. The core product is a corporate credit card that allows you to easily issue virtual and physical cards to your employees with granular spend controls.
But Brex goes way beyond just a credit card. The platform also includes:
Expense management: Automate receipt collection, categorization, and matching to card transactions. Easily submit and approve expense reports from the mobile app.
Bill pay: Manage vendor invoices, schedule payments, and track due dates to avoid late fees. Earn rewards on bill payments made through Brex.
Reimbursements: Streamline the employee reimbursement process for out-of-pocket expenses and mileage. No more manual spreadsheets.
Accounting integrations: Sync Brex with QuickBooks, Xero, NetSuite or Sage Intacct and eliminate hours of manual reconciliation work.
Reporting & insights: Get real-time visibility into company-wide spend with built-in reporting and forecasting tools. Make data-driven decisions about budgeting and investments.
The beauty of Brex is that it unifies all these financial workflows into a single platform, rather than having to cobble together a bunch of separate tools. With Brex, you can control all your company spend from one place and get a holistic view of your cash flow.
How Brex is Different
So what sets Brex apart from legacy corporate card providers? There are a few key things:
Instant onboarding: With Brex, you can get approved and start issuing virtual cards instantly, without the lengthy application process of traditional providers. No personal credit checks or security deposits required.
Higher limits: Brex offers 10-20x higher credit limits than traditional business cards by underwriting based on your company‘s equity and cash balance, rather than founders‘ personal credit scores. This is a game-changer for startups who need more spending power to grow quickly.
Integrated spend controls: Brex empowers you to set granular spend policies and approval workflows to keep budgets in check. You can limit employee cards to specific categories and merchants, require receipts on transactions over a certain amount, and more.
Automated expense management: Brex saves hours of headaches by automating the most painful parts of expense reporting. Employees simply snap photos of receipts after making a purchase, and Brex matches it to the transactions and categorizes it based on your chart of accounts. No more chasing people down for receipts or manually reconciling expenses.
Best-in-class rewards: Brex offers one of the most lucrative rewards programs of any corporate card. You‘ll earn points on every purchase, with bonuses on things like rideshare, travel, restaurants, and recurring software. Points can be redeemed for cash back, gift cards, travel, and more.
Here‘s a quick comparison of how Brex stacks up against some other popular cards for startups:
| Feature | Brex | Amex Business | Chase Ink | Silicon Valley Bank |
|---|---|---|---|---|
| Instant onboarding | โ๏ธ | โ | โ | โ |
| No personal guarantee | โ๏ธ | โ | โ | โ |
| Expense management | โ๏ธ | โ | โ | โ |
| Accounting integrations | โ๏ธ | โ | โ | โ |
| Points on all spend | 1-4x | 1-5x | 1-3x | 1x |
| Startup-friendly limits | โ๏ธ | โ | โ | โ๏ธ |
As you can see, Brex really stands out when it comes to built-in spend management tools and its underwriting model designed for startups. No other card offers the same fully integrated experience.
Brex‘s Meteoric Rise ๐
Since launching in 2018, Brex has seen incredible growth and adoption among startups and ecommerce companies. According to Brex‘s Year in Review, in 2021 the company:
- Grew total customers by 3x with startups making up 45% of users
- Increased total payment volume by 5x
- 10x‘ed the number of companies using its bill pay product
- Doubled revenue run rate to $200M
- Raised $425M in Series D funding at a $7.4B valuation
Some notable Brex customers include Airbnb, DocuSign, Twilio, Hims & Hers, Udemy, Snyk, Carta, and more. The company has clearly found product-market fit with high-growth startups and continues to expand its feature set to serve these customers in new ways.
Investors have also taken notice of Brex‘s impressive trajectory. The company has raised over $1.2 billion in funding from the likes of Y Combinator, Greenoaks Capital, DST Global, IVP, and more. This gives Brex a war chest to continue investing in the platform and expanding globally.
With its rapid growth, Brex has also started to expand beyond its initial startup customer base. In 2022, the company launched a product for enterprise customers like Airbnb and Flipkart. It‘s also making inroads into verticals like life sciences and ecommerce. As Brex‘s platform matures, I expect to see the company become a formidable player in the broader spend management space and give legacy banks a run for their money.
How to Get Your $250 Brex Referral Bonus
Okay, now for the fun part โ how to get your hands on that sweet $250 Amazon gift card when signing up for Brex. The process is super simple:
Copy one of the referral codes from the list below or click a signup link. Make sure to do this before starting your Brex application.
Go to brex.com and click "Get Started". You can also download the Brex mobile app and begin your application there.
Fill out the required info about your company and link your business bank account for verification. If you have an LLC, S-Corp or C-Corp (most common for startups), Brex will just need to verify your EIN and bank balance.
In the last step of the signup flow, paste the referral code in the "Referral Code" box. You‘ll see a message confirming that the code has been applied.
Once your account is created, you‘ll need to spend $1,000 on your Brex card within the first 3 months. This unlocks the $250 Amazon gift card for both you and the referrer.
That‘s it! The bonus will be emailed to you within 30 days of meeting the spend requirement. You can then redeem it on Amazon for office supplies, employee gifts, or anything else that floats your boat.
Here are some active Brex referral codes for 2024:
- Brex referral code BXSMRW3: Signup link
- Brex referral code BX4MWT4S: Signup link
- Brex referral code BXFMC4F: Signup link
- Brex referral code BXCFBB: Signup link
Remember that these codes are case-sensitive and only valid for new Brex customers. If you have any issues with the referral bonus tracking, reach out to Brex support at referrals@brex.com.
Why I Love Brex as a Founder
As someone who has experienced the growing pains of scaling a startup, I can confidently say that Brex has been a lifesaver when it comes to taming the chaos of company spend.
Before Brex, our finance workflows were a mess. We had multiple employee credit cards with different rewards programs and spend limits. Chasing down receipts at the end of the month was a nightmare. And our accounting team was drowning in manual categorization and reconciliation work.
Enter Brex. The onboarding process was a breeze โ we signed up in minutes and our virtual cards were ready to use instantly. The mobile app makes it effortless for the team to snap photos of receipts on the go and submit expense reports. And the accounting integrations have saved us countless hours of boring, repetitive close work.
But beyond just streamlining tactical workflows, Brex has given us a whole new level of visibility and control over our spend. With built-in budgets and approvals, we can ensure that we‘re investing in the right areas to drive ROI. The insights feature helps us identify opportunities to optimize costs and avoid waste. All without having to bounce between different tools or spreadsheets.
Not to mention, the rewards program is unbeatable. We funnel as much of our spend as possible through Brex to rack up points on advertising, software subscriptions, rideshare, and more. It may seem small, but the points add up quickly and provide a nice kickback to offset costs. Definitely take advantage of the partner offers too โ you can get $25,000+ in credits for popular startup tools.
At the end of the day, Brex has proven to be a significant lever in our growth by enabling us to scale spend efficiently. It‘s rare to find a financial product so in-tune with the needs of founders and so effective in powering the startup engine. I can‘t imagine running the company without it now.
Future of Startup Finance ๐ฎ
From my vantage point, Brex represents the exciting future of financial services for startups and small businesses. For too long, this segment has been underserved by traditional banks that don‘t understand the unique needs and constraints of early-stage companies.
Brex and other startup-focused fintechs like Ramp, Mercury, and Arc are finally bringing much-needed innovation to the space. With their software-driven approach, they‘re able to offer a radically better user experience, more flexible underwriting, and value-add features that banks simply can‘t match.
I believe we‘ll see this trend accelerate in the coming years. As more startups look to digitize their financial stack, they‘ll gravitate towards forward-thinking providers that deeply understand their business. This shift is already well underway in Silicon Valley and spreading to other startup hubs globally.
What‘s exciting is that spend management is really just the tip of the iceberg. I expect Brex and others to continue pushing into adjacent areas like banking, lending, insurance, equity management, and more. The opportunity to rebuild startup financial services from the ground up is massive and will be a boon for founders.
So if you‘re a startup leader, I highly recommend giving Brex a shot. Get your $250 bonus, experience the product for yourself, and join the movement to modernize your financial stack. It may just be the smartest investment you make this year.
FAQs on Brex Referral Program
Before we wrap up, I want to address some frequently asked questions about the Brex referral program and signup process:
How long is my Brex referral code valid for?
Brex referral codes don‘t have a set expiration date. However, Brex reserves the right to modify or cancel the referral program at any time. If you have a signup link from a while ago, I recommend confirming with Brex support that it‘s still active before sharing it.
How do I find my own Brex referral code?
To locate your unique referral code and signup link, log in to your Brex account and go to the Rewards section. If you‘re an admin, you should see a "Refer Your Network" box at the top of the page with your code and a trackable link. You can share this with colleagues or business partners via email, social media, or your own blog.
How many people can I refer to Brex?
There‘s no set limit on the number of people you can refer to Brex. The more signups you drive, the more Amazon gift cards you‘ll rack up. Just keep in mind that the $250 bonus is only valid for new Brex customers who meet the $1,000 spend requirement.
What if my referral bonus doesn‘t show up?
In some cases, the referral bonus may not track properly if the user fails to enter the referral code during signup. If you have a referral that isn‘t showing up in your account after 30 days, reach out to referrals@brex.com with the name and email of the person you referred. Brex support can usually straighten it out.
Can I use my Brex points to redeem an Amazon gift card?
Yes, in addition to the signup bonus, you can redeem your accrued Brex rewards points for Amazon gift cards at a rate of 100 points per $1. Simply log in to your rewards account and navigate to the Amazon redemption page. Gift card options start at $15 for 1,500 points.
Is Brex right for my business?
Brex is an excellent fit for venture-backed technology startups, ecommerce companies, and other high-growth businesses. If your company has raised outside capital, has a US EIN, and maintains a minimum balance of $50K in a business bank account, you‘ll likely qualify for Brex. The platform is especially powerful for companies with multiple employees incurring expenses and those spending heavily on software, ads, travel, or dining.
Get Started with Brex Today ๐
I hope this in-depth review of Brex referrals, features, and benefits has been valuable as you weigh your corporate card options. As a satisfied Brex customer myself, I can unequivocally say that the platform has unlocked a new level of speed, control, and visibility over my company‘s spend.
If you want to experience the power of Brex for yourself, I invite you to sign up today using one of the referral codes above. In addition to getting your $250 Amazon gift card, you‘ll quickly see how the platform can save you time, improve your cash flow, and set your startup up for scale.
Have questions about my experience with Brex or need help choosing the right spend management tool? My inbox is always open. Feel free to reach out any time for an honest, unfiltered take on navigating the world of startup finance.
In the meantime, happy spending!
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