U.S. fintech firm Brex today announced that Karandeep Anand has been appointed Chief Product Officer. The company also announced that it raised $300 million in Series D-2 funding from Greenoaks Capital, and Technology Crossover Ventures.
Brex is fortunate to have Anand’s extensive product leadership experience. He most recently headed Meta’s business products group which was responsible for more than 200 million businesses worldwide. Anand worked for 15 years at Microsoft where he managed the product strategy for Microsoft’s Azure cloud platform and developer platform. Anand will be leading Brex’s expansion of the product portfolio.
Brex will use the latest round of funding to expand its investment in product development and provide finance for more fast-growing businesses. Brex is currently valued at $12.3billion and has raised $1.2 billion in total from investors since its 2017 founding.
“Brex has always been a fast company. As the company scales, they’ve been able to grow even faster, which has accelerated their growth since our last investment,” stated Neil Mehta , Founder & Managing Partner at Greenoaks. “Brex is creating a complete financial operating system that’s growing in complexity, which will delight existing customers as well as attract new customers. We are delighted to continue our partnership with Brex and look forward to many years of working together.”
David Zhang (Partner at TCV ) stated that “Brex is fundamentally changing financial operations with an expanding suite of innovative financial products, and a magical user-experience.” “We are proud and excited to join founders Henrique dubugras, Pedro Franceschi as they journey to become one of the leading fintech franchises worldwide.”
“We are grateful to the continued commitment and belief of our investors in Brex and for the chance to continue investing in how we serve customers,” stated Henrique dubugras. We are extremely fortunate to have Karandeep join our team as we expand our product range. Karandeep is a great listener and understands the customers. He can build and scale products that meet the demands of fast-growing businesses with ease.
“Brex is disruptive in the market and the chance to create economic opportunity worldwide through financial product innovation is incredible exciting,” stated Karandeep Aand. Brex has a lot of opportunities ahead, and I am grateful to have the chance to help customers grow their businesses.