11–18 of 18 posts
Unrelated to today's announcement, but curious if you could share a bit about your origins in "making a new credit card from scratch" at all: forming a relationship with a bank, card network, etc.
How difficult was it to even enter the space at all - any top takeaways or learnings? Non-obvious struggles you may have had to overcome?
It would be easier to take Brex more seriously if they implemented basic security practices like 2-factor for login. Especially as virtual cards and transactions are shown without any kind of additional checks after a basic username/password login flow.
Thanks for the feedback and totally understand where you're coming from. We're working on adding these security measures in the near term. We care a lot about security too - one of the reasons we started Brex and made virtual cards a feature is that it is a much more secure payments tool. We started on the acquiring side where fraud is a huge issue and we're looking forward to adding more security features shortly.
Also curious about your interaction with CLSA - they're a pretty cool group that, as you mention, serves as a node or hub in the community. What does your interaction with them look like? To some extent they already provide some portal into the larger lab suppliers. It's not on the payment side, but more on the buying power itself.
Helping comply with government-approved accounting would also be a very nice feature for those of us that make use of SBIR-type grants. Though I suspect that that would mostly be true for much smaller biotech startups.
Earlier quoted context omitted.
Thanks for the feedback and totally understand where you're coming from. We're working on adding these security measures in the near term. We care a lot about security too - one of the reasons we started Brex and made virtual cards a feature is that it is a much more secure payments tool. We started on the acquiring side where fraud is a huge issue and we're looking forward to adding more security features shortly.
If you cared a lot about security, wouldn't you have built the platform on basic security methods like 2fa and hard sign in from the start? Surely patching these in afterwards will leave gaps. Are there other important security precautions coming "in the near term" like encryption at rest?
I've carried a handful of different corporate cards, and do not recall even being offered an option for it.
Small biotech cofounder here - curious how you think about lab supplies and interactions with other of your customers. One thing that is curious is that you have a list of your life-science customers, but that's also a list of clients/suppliers for other of your clients. Is there any (potential) interaction in that regard between your clients? That seems to be one of the 'perks' in the generic tech industry - trading…
We're actually partnered with CLSA! You can read more about that here (https://finance.yahoo.com/news/brex-launches-first-corporate...) and if you're a CLSA member you'll start to see some communication about our partnership in the coming days/weeks.
Helping you comply with SBIR-type grants is definitely something we're researching. We actually already have some expense management tools (such as our receipt capture/handling) that make it easier to comply and will continue to work to make them better.
On the new life sciences support,
1. How do you know which companies? Do we need to explicitly sign-up/transfer to a life sciences program?
2. Are the life sciences rewards in addition to or replacing the standard Brex rewards [1]?
Also a feature request while you're here: Easy payment a la Chase QuickPay.