Henrique Dubugras
Co-Founder & Board Chair, Brex. On 2 shows, 3 appearances. The Shows tab opens the full record on each.
founderexecutiveinvestor@hdubugras ↗LinkedIn ↗brex.com ↗
Henrique Dubugras is the co-founder and board chair of Brex. He previously co-founded Brazilian payments provider Pagar.me and serves as a board member at Mercado Libre and Expedia Group.
2shows
3appearances
46statements
4resolved
3supported
0contradicted
75%fully supported
142said about them ↓ Everything Henrique Dubugras said on any show that made the record, most notable first. Each card names its show and opens the statement there.
Henrique Dubugras says Silicon Valley's taboo against cash compensation is hypocritical
“I think there's this thing in Silicon Valley where compensation is kind of like this weird topic that people don't talk about because you need to be like mission driven. And if you're compensation driven, you're bad, right? You're evil because that's like bank…”
Henrique Dubugras argues being mission-driven is not required to build massive companies
“I believe that being mission driven is not the only way to build a massive company.”
Dubugras: Expense software must prioritize execution speed over saving money
“And then that's when we said, actually, no, what they're doing doesn't make any sense for a lot of our customers, maybe for their customers, the direction that makes sense in the product and expense. It's helping companies move faster. That's what matters for …”
Dubugras: Expand product lines only when core offerings reach maturity
“If you're expanding to, it's the same customer that you're serving with a product that makes your current product better because that product exists. So you're gaining, not only you're selling this new product, but your old product is better because you have t…”
Dubugras neglected customer conversations for 1.5 years during Brex's growth phase
“For a good year and a half, I just had so many things going on with fundraising and hiring and pride and all these things that you just forget to talk to customers.”
Dubugras: Relying on Bank Partners Slows Fintechs Down; Build Tech In-House
“If you rely on a banking partner to do something, you will be slowed down more than you think you will. So, you know try to own everything yourself, otherwise our product will be, you know, slowed down by the bank.”
Brex paid market or above-market cash compensation to attract early hires
“We were very non-restrictive in cash compensation. We didn't force people to take pay cuts to join us. So I think that's like a reality. A lot of startups is in the beginning. It's hard to get really good people or more experienced people because, you know, yo…”
Brex will be the world's top corporate credit card by 2024
“I hope Brex in five years is the number one corporate credit card in the world in all industries and all sizes. And I'm still the CEO.”
Evan Spiegel told Dubugras that authenticity is the most important CEO trait
“I got around being a CEO was from Evan Spiegel from Snap. He told me that the most important thing about being a CEO is being authentic to yourself.”
Dubugras stopped ADHD medication because it degraded his spontaneity and relationship-building
“Even though it was giving me some superpowers, I was becoming more focused and productive in some ways, it was taking away from other superpowers that I had. For example, spontaneity and building relationships and other things that I was good at... And I stopp…”
Dubugras: San Francisco Billboards Boosted Brex's Outbound Email Response Rates
“We had actually a higher response rate on outbound emails because we did this billboard campaign.”
Henrique Dubugras evaluates candidates on 'career delta' over total years of experience
“The way I think about it today is I think there's a few things, but I think the thing I most look at is career delta. So where did they, you know, start and where are they based on like, how much time are they working? You know, things like that. So if you kno…”
Brex's longest venture fundraising round took only six days to close
“And then whenever, you know, we're all around the round that took us the most time to raise took six days because we already knew, you know, Everyone involved, and everyone already knew Brex, and you know, the decision was kind of made even before we went fund…”
Brex raised its Series C without touching any Series B funds
“When we raised our Series C, we haven't, hadn't touched our Series B yet, and I think by the time we probably raised our Series D, we probably wouldn't have touched our Series C.”
Startups should cut office luxuries but never skimp on top employee compensation
“So for example, I think like you shouldn't save on employee comp. If there's good people and you want to hire them, like, and you have to raise everyone else's salary just to hire this person because, you know, they're more comp and you need to be fair to ever…”
Henrique Dubugras believes the CEO role adapts to the individual's existing strengths
“One of the things I truly found out is that, like, being a CEO is a job that adapts to you, and not that you adapt to the job.”
Dubugras: Startups with $5M in funding couldn't get corporate cards in 2017
“Startups had to raise a lot of money and couldn't get a corporate credit card. And that was the first problem that we saw was like, how come you have raised five million dollars and you can't get a card to pay for your SAS and AWS bills?”
Dubugras: His biggest CEO mistake was pattern-matching against mismatched leaders
“I think the biggest mistake that I've made is trying to pattern match with people that are too different for me.”
Dubugras read 17 books in six months after starting ADHD medication
“And then I started medicating for ADHD, so I started taking Adderall, and then six months in, I read 17 books in six months”
Brex split co-founder roles into internal management and external CEO duties
“Pedro and I, we kind of found our space. Split around external CEO and internal CEO. Pidra actually loves management, and he hates doing a lot of the external stuff that CEOs do, and I don't really like management, but I like a lot of the other jobs the CEO ha…”
Dubugras: Brex hired big-company executives who couldn't adapt to strategic shifts
“And I think we hired a bunch of people for a while that were just very good at scaling, getting something that's working and making it bigger. And we had so much change of recs and strategy and direction. A lot of people couldn't keep up with the change.”
Dubugras: Evaluate executive adaptability via zero-to-one track records, not interview questions
“Yeah, there's a bunch of questions, but I think smart executives, they know the answers to all of them. I think it's looking through the experiences, even if they're at a big company, how to take something off the ground. Or would they always hand it something…”
Dubugras: Brex repeatedly made decisions contradicting its venture capital investors' advice
“And we went so many times against what our investors thought we should do.”
Dubugras: Companies slow down by creating processes to prevent 1% edge cases
“99% of the people that weren't buying bottles of wine now have to do this process that slows them down in order to solve for the one percent of times that things go wrong, right? Get to this story that I just told and extrapolate to basically everything in the…”
The other half of the tape: Henrique Dubugras's own voice is left out of every number here. Other people bring the name up 140 times in 68 episodes across the shows. 2 statements on the record name them. every mention, with the transcript →
Who brings them up most Harry Stebbings 106Sam Blond 20Jason Lemkin 3Alex Bouaziz 2Hugo Barra 1David Hsu 1
Statements about Henrique Dubugras, by other people (2)
Blond: Brex's champagne outbound campaign saw a 75% reply rate
“The champagne campaign where we sent bottles of Vuv Cliqueau along with handwritten notes from Enrique, and we automated that handwritten note process. Just saying congratulations on your recent fundraise. We're a fellow early stage startup located in the Bay …”
Every mention by year
tap a year for its mentions
20VC 117
the Official SaaStr Podcast 23
2026 1 mention in 1 episode
2023 22 mentions in 10 episodes 2 per episode
- CRO Confidential: 3 Secrets For Early-Stage Startups To Acquire Customers | CoSell.io Co-Founder
- SaaStr CRO Confidential: Howard Lerman, Founder & CEO @ Roam | Founder-led Sales
- How The Biggest Product-Led Enterprise Company In The World Did It | Atlassian CRO Cameron Deatsch
- How to Grow Revenue Faster in the Second Half of 2023 with Founders Fund
- SaaStr CRO Confidential: Principles that Drove Wiz’s $0 to The First $100m ARR | Wiz CRO Colin Jones
- SaaStr CRO Confidential: Sam Blond + Omni Founder Colin Zima on the Power of Leveraging Your Network
- Alex Bouaziz: How We Became a $12B HR Company with 2,000 Remote Employees | 20VC #973 · 20VC with Harry Stebbings
- CRO Confidential: Sales Recruitment and Hiring Managers With Ben Braverman
- 2 more episodes that year, every mention in 2023 →
2022 7 mentions in 6 episodes 1 per episode
- Julio Vasconcellos: Scaling to $100M and 1,200 Employees and then Cratering | 20VC #928 · 20VC with Harry Stebbings
- Hugo Barra: How I Built Hardware for Android, Xiaomi, and Oculus | 20VC #947 · 20VC with Harry Stebbings
- 20 Product: Robinhood CPO on The 3 Stages of Product Management, How to Structure and Execute Great Product Reviews, The Secret to Building a World-Class Hiring Funnel in Product Team Building with Aparna Chennapragada
- 20VC Exclusive: Fast's Domm Holland on What Really Happened at Fast? Were they really Burning $10M per Month? Where did Bolt Succeed Where Fast Did Not? What is It Really Like To Have Stripe Invest in your Company?
- 20 Growth: Why Retention Defines Product Market Fit, What is Good Retention Levels Today, The Most Counterintuitive Elements of Product and Growth & Why So Many Startups Mess Up Hiring For Growth Teams with Brian Hale, Head of Consumer Product & Growth @
- The Office is Back!! But What Will It Be Like? Jason Lemkin & Justin Bedecarre of Raise.Work
- every mention in 2022, scene by scene →
2021 2 mentions in 1 episode
2020 24 mentions in 8 episodes 3 per episode
- 20VC: Retool Founder, David Hsu on Why YC Is Helpful Pre Product-Market Fit but Not Post and Why VCs Are Not Helpful Pre-Product Market-Fit but are Post, Why it is Difficult to Become Unprofitable if You Set Yourself Up For Profitability Early & Why VC Th
- 20VC: Matt Mochary, Coach To Silicon Valley's Leading VCs & Founders on How To Deal with Imposter Syndrome and Self-Doubt, How To Manage Fear and Anger & Why Board Seats Are The Death of Investors
- 20VC: Framework For Hiring The Best Talent 100% Remotely, Raising $32M From Benchmark and GV Pre-Launch and How To Think Through Capital Efficiency and Runway Today with Jeff Seibert and Wayne Chang, Co-Founders @ Digits
- 20VC: Superhuman's Rahul Vohra on How 1-1 Customer Onboarding Can Scale Efficiently to $100M ARR, Why Gamification Does Not Work But Game Design Does & What Game Design Means For The Next Generation Of Product Managers
- 20VC: Notion's Fundraise with Index: The Most Anticipated Deal in The Valley: How It Came To Be | The Future of Remote Work |How Notion Approach The Balance of Growth and Profitability
- 20VC: Why Venture Fund Life Cycles Do Not Align To Companies Today, Actionable Strategies To Separate Good From Great When Assessing and Hiring Multiple Candidates & Why We Need More Adventure in Venture Capital with Blake Scholl, Founder & CEO @ Boom Sup
- 20VC: The Framework to Scale A Team From 20 to 190 in 24 Months, How To Structure The Perfect Investor Updates & How To Create A Culture of Distributed Ownership with Radical Transparency with Jean-Charles Samulian, Co-Founder & CEO @ Alan
- 20VC: Robinhood Founder Vlad Tenev on The Single Most Important Thing Leadership is Responsible For, How To Manage Fear and Self-Doubt as a Leader & The Future of Fintech; Bundled or Unbundled
- every mention in 2020, scene by scene →
2019 55 mentions in 28 episodes 2 per episode
- 20VC: NEA Partner, Dayna Grayson on Sourcing, Picking, Winning, Gut vs Data in Investment Decision-Making & The Evolution of Entrepreneurial Expectations of Venture
- 20VC: Initialized's Garry Tan on The Most Important Thing A Seed Investor Can Do For Founders, How Ownership Requirements Change With Evolution of Funds & Why There Is Not Too Much Capital Chasing Too Few Deals
- 20VC: BoxGroup's David Tisch on Whether Concentrated Investing At Seed Works, Do Founders Really Want Direct Feedback and Is It Good For Them & Why Consumer Social Is Interesting Again
- 20VC: Why The Best Entrepreneurs Are Cockroaches, What Everyone Underestimates About Customer Acquisition & What You Don't But Need To Know About Payback Periods with Josh Buckley, Founder & Chairman @ Mino Games
- 20VC: Ash Fontana on The 5 Core Characteristics That Make Data Valuable, What VCs Can Learn From Italian Craftsmen and Howard Marks & The Importance of Vertical Integration In Scaling Today
- 20VC: Firstmark's Rick Heitzmann on The Rise of Pre-Emptive Rounds, His Biggest Learnings From The Pinterest Board, 2 Things VCs Can Do To Prepare Their Companies For The Downturn and Why Now Is A Good Time to Be Contrarian and Invest In Consumer
- 20VC: Inside The Mind of A Leading LP: How LPs Evaluate New Fund Managers on Everything from First Meeting to Portfolio Construction To Fees and Carry with Lisa Edgar, Managing Director @ Top Tier Capital Partners
- 20VC: How To Drop The BS and Relationship Build With Investors, What Investors Can vs Cannot Help Your Company With & Why When There Is Doubt There Is No Doubt In Hiring
- 20 more episodes that year, every mention in 2019 →
2018 29 mentions in 14 episodes 2 per episode
- 20VC: First Round's Phin Barnes on How The Best Founders Optimize for Learning Per Dollar Spent, What Makes A Truly Special Founder/VC Relationship and Why Pattern Recognition is Another Term For Intellectual Laziness
- 20VC: Learnings From Backing The Likes of Spotify and Airbnb, The World of Growth Investing Today and The Right Way For Investors To Think About Liquidity with Woody Marshall, General Partner @ TCV
- 20VC: A Framework For Approaching Risk and How It Affects Portfolio Construction | Lessons and Advice From Working with Dropbox's Drew Houston | Why Being A Learning Animal Is The Most Important Factor For Success with Ted Wang, Partner @ Cowboy Ventures
- 20VC: Why Founders Should Not Always Be Raising, How To Build Relationships with VCs In A Condensed Timeframe, Why The Founder To VC Relationship Is Not Like A Marriage with Dave Vasen, Founder & CEO @ Brightwheel
- 20VC: Top 3 Considerations When Evaluating Consumer Businesses Today | 700 Meetings, 70 LPs, 2 Years, What It Takes To Raise a First Time Fund| The Power of The Female Network In Action Today with Anu Duggal, Founding Partner @ Female Founders Fund
- 20VC: CB Insights' Anand Sanwal on The Most Dangerous Myth Some Investors Have Promoted, Why Most B2B Content Is Crap and How To Make It Successful & Why Predigree Is Overrated and The Right Way To Scale Teams
- 20VC: Index's Danny Rimer on His Biggest Lessons On Price, Ownership, Board Dynamics & Building Consumer Businesses from Backing The Likes of King, Skype, Farfetch, Glossier and more...
- 20VC: The 2 Core Roles Played By The Best Seed Investors Today, What To Look For In Potential Co-Investors & Why Seed Funds Can Grow Ownership in Their Best Companies Across Rounds with Ron Bouganim, Founder @ Govtech Fund
- 6 more episodes that year, every mention in 2018 →
One line per show, most statements first. The link opens Henrique's full record on that show: the calibration, argument clarity, speaking style and every statement made there.
| Show | Role there | Eps | Statements | Record | |
|---|---|---|---|---|---|
| 20VCLEDGER | Co-Founder & Board Chair, Brex | 2 | 35 | 67% 2/3 | full record on 20VC → |
| SAASTRLEDGER | Co-Founder & Board Chair, Brex | 1 | 11 | 100% 1/1 | full record on the Official SaaStr Podcast → |