Capital One pays $5.15B for Brex's $1B ARR business in major bank-fintech deal
On January 22, 2026, Capital OneDealroom has a profile for this one. Try Dealroom → announced the acquisition of Brex for $5.15 billion in a cash-and-stock transaction, expected to close mid-2026 subject to regulatory approval. The deal values Brex at approximately 5.1x its October 2025 annual recurring revenue of over $1 billion—a significant discount from its January 2022 peak valuation of $12.3 billion.
Brex, which serves 50,000+ businesses including 150+ public companies with $2.9 trillion aggregate market cap, provides AI-powered corporate spend management combining cards, expense automation, travel, bill pay, banking, and accounting integrations across 120+ countries. The company achieved profitability trajectory in 2025 after reducing burn rate by 82% and growing enterprise revenue 80% year-over-year.
The acquisition strengthens Capital One's business payments strategy following its $35.3 billion Discover deal. Key assets include Brex's EU Payment Institution license (secured August 2025), stablecoin payments infrastructure launched with CircleDealroom has a profile for this one. Try Dealroom → in September 2025, and AI-native technology stack. Brex CEO Pedro FranceschiDealroom has a profile for this one. Try Dealroom → will remain as independent business unit leader post-acquisition.
Sources: Bloomberg
TechCrunch
Brex
B.S.
