Brex adds business Mastercard for tech startups
Technology startups using the Brex credit card for business expenses will soon migrate to the World Elite Mastercard for Business.
San Francisco-based Brex will convert its current Brex cardholders to the new Mastercard program this month.
For the past year, the company has provided corporate cards for startups. Through the Mastercard network, Brex says it is upgrading its offerings to those companies, providing perks traditionally associated with big enterprise companies.
“We’ve spent time building our card issuing technology from the ground up, giving us the flexibility to partner with a number of financial platforms and today we add Mastercard to that list,” Brex CEO Henrique Dubugras said in a Tuesday press release. “We are focused on continuously improving the Brex platform to be the best corporate card for all businesses.”
The Mastercard World Elite program bolsters the rewards program with benefits such as access to a luxury hotel and resorts program, emergency travel assistance, travel and rental car insurance. Cardholders will also receive anti-fraud benefits such as purchase protection and ID theft protection benefits that are offered by Mastercard.
In conjunction with its Mastercard launch, Brex is releasing new fraud prevention technology. Cardholders will now have access to “no questions asked” concierge fraud support.
Emigrant Savings Bank will issue the new Mastercard product to Brex clients.
Initial investors in Brex last year, when the company issued its first corporate card, included PayPal founders Peter Thiel and Max Levchin, Facebook investor Yuri Milner, former Visa CEO Carl Pascarella and VC Ribbit Capital.