Capital One Buys Brex, Pushes AI in Finance

Capital One has finalized its acquisition of Brex through a mix of stock and cash, bringing together a large-scale financial institution with a fast-growing, AI-driven fintech platform.

Pedro Franceschi, co-founder and CEO of Brex, will remain in his role following the acquisition, ensuring continuity in leadership and product direction.

What Brex brings to the combined company

Brex provides businesses with an integrated solution that combines corporate cards, expense management, and banking capabilities in one system.

Founded in 2017, the company has developed a reputation as a modern finance platform designed for high-growth companies. A key differentiator is its use of AI to automate tasks, such as expense categorization, approvals, and accounting processes, reducing manual work and improving operational efficiency for customers.

Transaction advisors and deal structure

Several advisory firms supported the transaction on both sides. Capital One worked with BofA Securities as financial advisor and Wachtell, Lipton, Rosen & Katz as legal advisor, with Baker McKenzie providing additional international legal counsel.

Brex was advised by Centerview Partners, along with legal advisors Wilson Sonsini and Simpson Thacher & Bartlett.

In January 2026, Capital One Financial Corporation first announced an agreement to acquire Brex in a deal valued at approximately $5.15 billion.

More about Capital One

Capital One Financial Corporation is one of the largest technology-driven financial institutions globally, with $475.8 billion in deposits and $669.0 billion in total assets as of the end of 2025. Headquartered in McLean, Virginia, the company operates across credit cards, consumer banking, and commercial banking, while also running a global payments network.

Notably, Capital One states to be the only major US bank to have fully migrated to the public cloud.

Photo by Yibei Geng on Unsplash