Brex Founders Initially Entered Y Combinator With a Virtual Reality Concept
Enrique Dubugras · 1693 He Gives Founders a CC, No Personal Gauruntee, Will Pass $1B GMV in 30 Day Period by 2020. · Mar 13, 2020 · at 1:23
Brex co-founder and CEO Enrique Dubugras details the company's origin story during their time at Y Combinator.
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“And in the middle of Stanford, we got into Y Combinator and in Y Combinator was actually a virtual reality idea. And inside Y Combinator, we actually pivoted to Brex.”
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More from Enrique Dubugras
Brex Boasts a 0% Non-Payment Rate and Zero Customer Defaults
“We actually have zero percent not payment today. So we never had a customer default.”
Brex is Growing Gross Merchandise Volume 50% to 70% Month-Over-Month
“Growth rates we're growing between 50 and 70% month over month. So since we, you know, raised our round, we already grew like five X or something like that.”
Brex Expects Its Required Warehouse Equity Backstop to Drop to 2%
“As we become more mature, the markets the capital markets start trusting us more. So that number can go down to 10, five, two, two percent. So over time, I'll need less capital than I need today.”