Finance
Capital One to acquire B2B fintech Brex for $5.15 billion
U.S. bank Capital One will acquire fintech unicorn Brex for $5.15 billion, TechCrunch reported on Thursday. The deal values Brex at less than half its $12.3 billion valuation in its 2022 Series D-2 round. TechCrunch said early investors such as Ribbit Capital, Y Combinator, Kleiner Perkins and Peter Thiel made more than 700 times their money, while later investors underperformed as rival Ramp grew rapidly.
