Fintech for corporate credit cards Brex is taking another step in expanding its offerings to founders by paying 90 million dollars in exchange for Pry Financials, a software platform that includes tools to facilitate budgeting, bookkeeping and forecasting.
Pry lets founders project cash flow, monitor budgets and plan scenarios using dashboards and visualizations. Pry’s technology was designed to allow users to monitor and categorize the costs and revenue, create a financial plan and develop custom formulas to forecast.
Brex purchases the financial management platform Pry
Brex has amassed an estimated multi-billion-dollar valuation on the business card it issued for venture-backed companies. However, the company has been growing to provide SMEs and larger companies cash management solutions and an all-in-one solution that brings spending management and bill pay software on one screen.
News of the Pry acquisition is coming just several days after Brex announced its plans to move forward with the second phase of expansion with an important push into software, with the introduction of Empower, the platform that is designed to speed up the pace of companies through “enabling a culture of trust and financial discipline”.
Andy Su, Pry’s co-founder and CEO. “Our goal has always been to help as many founders as possible run their business more efficiently. With Brex’s scale and reach, we can have a much bigger impact right away.”