The Brex Public Office recorded a big victory for sale in the European Union, and plans to expand in the United Kingdom

Financial services provider Brex On Thursday, it announced that it had achieved a major milestone: it is now licensed in the European Union. This means that credit and deduction cards can now be issued directly and the provision of spending management products for any work in all thirty countries in the European Union with “the lack of required solutions”, as the co -founder and CEO Pedro Francesi wrote In a blog post.

While the startup that has previously supported 60 currencies in 200 countries, it only could sell their products to American presence.

With expansion, it is now authorized by Praix to sell the spending management (complete with the issuance of cards) and other tools such as the built -up payments of European Union companies and startups, says a spokesperson for Techcrunch. However, there is a warning: the banking will not be available and pay the bills in the beginning. The company hopes to offer these services in the future.

Although this is good news for Brex, it may also be good news for European startups. Brex claim to fame the management of startups to its employees even if it is not yet qualified from traditional banks. Without displaying a bank account, the smaller startups in the European Union still have to weigh their options.

After that, Franceshey says he wants to expand Brex in the UK, although he has not provided any details about these plans.

Francischi He said in December This Brex is on the right path to stop burning money in 2025, “an important landmark for the public subscription.”

In February, the sources told various news means that Brex was on the right track for $ 500 million in revenues this year as well. This is the shift from a fragile moment in 2023 when Brex made the demobilization of workers and told employees that her cash burning was very high. There was no hint yet when this public subscription occurred, though.

Brex’s competitive victory comes in the international market where Fintech’s competitors in the United States have a comprehensive moment. The slope was collected from VCS funds like MAD, Obtaining a rating of $ 22.5 billion only 45 days After a round of $ 16 billion. In March, Mercury collection is $ 300 million Its evaluation doubled to $ 3.5 billion.

Brex has not announced the funding of New Equity VC since 2022, when it raised $ 300 million in A. D-2 series in $ 12.3 billion evaluation. However, you believed at $ 260 million of debt March 2024Supported to spending management products, to help her pay the price of her intensive cash business.