Capital One Agrees to Acquire US Fintech Brex for $5.15 Billion in Cash and Stock

Capital One Financial has agreed to acquire Brex, the San Francisco-based corporate card and spend-management fintech, for $5.15 billion in a deal comprising approximately $2.75 billion in cash and about 10.6 million Capital One shares, the companies announced in January 2026. Brex chief executive Pedro Franceschi described the transaction as the largest bank-fintech deal in history. The deal is subject to regulatory clearance.

The startup had previously been valued at $12.3 billion, meaning the agreed purchase price reflects a discount of more than 50 per cent on that figure.

BREX'S BUSINESS

Brex had built a platform that combined a corporate charge card with integrated expense reporting, bill-payment capabilities, and treasury management features.