Brex Built Its Enterprise Platform in One Year to Acquire Major Clients
Pedro Franceschi · Pedro Franceschi: What Brex Needs to do to be a Public Company | E1178 · 20VC with Harry Stebbings · Jul 17, 2024 · at 18:56
Pedro Franceschi is the co-founder and CEO of corporate spend platform Brex. He details the development timeframe and client acquisition results of Brex's move into enterprise accounts.
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“And it took us, you know, a year to get something that worked. And that's how, you know, ultimately, we closed customers like DoorDash, like Coinbase, like Robinhood, you know, like all these large enterprise customers that would not have traditionally come to Brex”
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“You always think, oh, I have a hundred people. I'm going to have a thousand people and do two next, more. And it's like, no, you're going to do maybe 30% more.”
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“And today there's three companies on the planet that can do that. Number one is Brex. Number two is Citibank. Number three is American Express. That's it.”
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Franceschi: Pivoting is hard; founders underestimate starting with a good idea
“I think the initial conditions are, like, highly underestimated. There's this belief that I can just pivot my way around into an idea that works. It's really hard to pivot away into something else, and I think people just don't anticipate how much of just find…”