Insight certainty 4/5 debate potential 2/5

Dubugras: Partnering With Banks Functions Like an Equity Pitch

Henrique Dubugras · Lessons From a Second-Time Founder: How Brex Went From 0 - $1B in Under 2 Years · Apr 22, 2019 · at 14:33

Henrique Dubugras (co-founder of Brex) explains how early-stage fintech startups can build credibility and secure critical partnerships with institutional banks.

0:00 / 0:19exact quote · 19.3s
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“Getting good investors of good credibility, like, you know, makes the banks perceive that you have a higher chance of success. So, because in a way they're also investing in you and somehow, right? So it's a little bit like an equity pitch, you know, when you're raising equity that They need to, you know, believe that you will be a successful company, and that their time is worth spending.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

More from Henrique Dubugras

Insight
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.”
Henrique Dubugras Apr 22, 2019 ▶ 10:24 Lessons From a Second-Time Founder: How Brex Went From 0 - $1B in Under 2 Years
Assertion Not checkable as stated
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 Apr 22, 2019 ▶ 17:26 Lessons From a Second-Time Founder: How Brex Went From 0 - $1B in Under 2 Years
Insight
Dubugras: Corporate Card PMF Is Execution, Not Demand Discovery
“It wasn't a question of, You know, finding if people need what we're building. It was a question of, can we build what we say we will build, and if we can, we know that a lot of people will want.”
Henrique Dubugras Apr 22, 2019 ▶ 6:58 Lessons From a Second-Time Founder: How Brex Went From 0 - $1B in Under 2 Years
Assertion Supported
Dubugras: Brex Manages Credit, Underwriting, and Tech Entirely In-House
“We do the credit, we do underwriting, we do the technology, we do basically everything. We have a banking partner but, you know, we basically do everything. And getting that was like, and being able to control the entire stack was something that we learned fro…”
Henrique Dubugras Apr 22, 2019 ▶ 10:45 Lessons From a Second-Time Founder: How Brex Went From 0 - $1B in Under 2 Years
Disclosure
Dubugras: Brex Hired a General Counsel as Its Third Employee
“So we wanted, like, actually our GC hire was our third hire in the company. And it was fundamental for us to get our banking deals and regulatory stuff done because, you know, there was someone that actually knew what they were doing”
Henrique Dubugras Apr 22, 2019 ▶ 12:32 Lessons From a Second-Time Founder: How Brex Went From 0 - $1B in Under 2 Years
Disclosure
Dubugras: Brex Hired a CFO as Its First Employee
“And you know, our CFO was actually our first hire because we thought, hey, this is actually a financial business. We have to raise debt. We have to underwrite. We have to do all these things. So, hiring a CFO as, like, our first employee was actually critical …”
Henrique Dubugras Apr 22, 2019 ▶ 12:59 Lessons From a Second-Time Founder: How Brex Went From 0 - $1B in Under 2 Years
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