📝 Brex abandons co-CEO model

Author

Liam Gill
June 13, 2024

News of the Day

Fintech startup Brex is transitioning to a traditional leadership model with Pedro Franceschi becoming the sole CEO, while co-founder Henrique Dubugras will serve as chairman of the board. The decision aims to enhance agility and streamline decision-making as the company prepares for a potential IPO by 2025. Since founding Brex in 2017, the co-founders have grown the company as co-CEOs to serve over 30,000 customers with a comprehensive product suite. Brex has recently faced layoffs and management changes, but has successfully reduced its cash burn and aims to be cash flow positive by 2025, positioning itself strongly against competitors like Ramp, Mercury, and Airbase.

Tweet of the Day

If you have tweets you want to submit to be featured here (from you or someone you like), then reply to this email with a link to them!

Raise Venture Capital in 2024. Get the course helping top founders raise venture capital. The materials in this course are used by founders pitching a16z, Sequoia, YC and more while raising tens of millions! Get the course now for just $199.

Sponsored Content

Chart of the Day

Are you looking to grow your business? Here is how I can help:

📢 Promote your startup to 2,000+ VCs including investors from a16z, YC, Techstars, Rarebreed, Sequoia and more.

📱 Book a Strategy Call to get 1:1 feedback on your pitch, pitch deck and/or fundraising strategy. (If you need general startup advice, then reply to this email, and I’ll let you know if/how I can help.)

📺 Access FundraiseOS, the ultimate fundraising course with video lessons and practical worksheets helping with everything from deciding how much to raise to understanding a term sheet.

💸 Promote your product or service to 100,000+ entrepreneurs.

🌐 Connect with me on LinkedIn or X (formerly Twitter) to get access to new content about startups, fundraising, venture capital, and more every day.

Onwards and Upwards,