of Brex solution to a large extent SMB’s exit from the market surprised its customers, market observers and even its competitors. And while affected customers are struggling to move their assets off the Brex platform, its rivals are targeting fintech and the market it leaves behind.
The decacorn solution puts a potentially material client cohort in play, which means that Brex rivals are probably preparing to try to attract the bills left inside.
TechCrunch has heard from a number of Brex rivals on the issue, giving us a sense of how the market views the company’s decision. Naturally, while discussing the competitors, they had a lot to say about their own products.
So, in order not to be too generous to competing entities, we divided their observations into two areas: notes on the business model and points related to customers. We tried to share only observations that describe the corporate spending market more generally, not why one particular company is better than any other.
Given how competitive the world of corporate spending has proved to be (more TIMES, TIMESand TIMES from TechCrunch), Brex has started an interesting strategic conversation in this well-funded niche for start-up fintech companies. Let’s talk about it.
Kicking the hive
Exchange earnings usually mean low margins, so their ability to power companies for corporate spending has been the subject of debate for some time. Brex and Ramp started offering free services, while Airbase focused more on selling software. Divvy managed to cope with a huge outcome only because of the reduction in card costs.