Capital One To Acquire Brex For $5.15 Billion

Capital One has agreed to acquire Brex in a cash and stock deal worth $5.15 billion. This is a significant devaluation on Brex’s last capital raise in 2022 that saw it valued at $12.3 billion. Brex cut 20% of staff in 2024 due to a high burn rate and low growth rate so it’s hardly surprising to see them take a deep discount on their last raise. Capital One most recently acquired Discover in a deal worth $35+ billion.