Brex Launches First Corporate Card For Life Sciences
Summary
Announced in a post to their blog, Brex’s new product includes underwriting, benefits and rewards uniquely designed to ease the challenges life sciences and biotechnology companies experience. “The life sciences industry, in which companies typically have high funding levels but untraditional and delayed revenue models, needs a solution that offers spending flexibility and access to payments networks without requiring a personal guarantee,” said Henrique Dubugras, co-founder and co-CEO of Brex. Brex for Life Sciences customers will also have access to product features including transparent statements, expense management systems, high quality accounting software integrations and targeted rewards with points multipliers on categories like lab supplies and conferences. These distinct features have already attracted the attention of life science companies, including Anthos Therapeutics, Synthego, and QurAlis, which focus on cures for cardiovascular disease, genome engineering, transforming bone marrow transplants, and more. “We signed up for Brex because of its simple value proposition: instantly available credit, the ability to offer cards to our entire team and actively monitor spend, its integration with our accounting platform, and no-fee structure,” said Nik Talreja, VP of Finance and Operations at Spiral Therapeutics.