Brex, a leading corporate card and spend management platform, has closed a $235m revolving credit facility to bolster its product growth and scale its card solutions.

The two-year credit facility was led by Citi as the senior lender, with TPG Angelo Gordon participating as a supporting lender.

This latest funding initiative is expected to further accelerate Brex’s growth trajectory. The company plans to utilise the credit facility alongside its existing warehouse facilities and master securitisation trust. To date, Brex has completed three securitisation issuances.

Commenting on the announcement, Ben Gammell, chief financial officer at Brex, said, “This transaction highlights the continued momentum of Brex’s card offering and our entire product suite.

“Our capital position remains exceptionally strong, and this credit facility, which follows our largest and most robust securitization to date, allows us to further scale our card solution and empower our customers in making every dollar count.”

Aaron Ong, head of private asset-based credit at TPG Angelo Gordon, expressed enthusiasm for the partnership, adding, “We are thrilled to provide capital support to Brex in its pursuit to offer modern spend management solutions for businesses of all sizes. xThis partnership demonstrates how TPG Angelo Gordon customizes capital solutions to meet the needs of our borrowers, and we are pleased to be part of Brex’s incredible story.”

Founded in 2017, Brex has established itself as a comprehensive financial platform that integrates corporate cards, expense management, banking, bill pay, and travel solutions.

The platform is used by over 30,000 companies, including major names such as DoorDash, Flexport, and Compass. Handling tens of billions of dollars in transactions annually across 120 countries, Brex continues to innovate to help businesses optimise their financial operations.