A startup can have millions of venture dollars in the bank and not get approved for a credit card. That's because old-school banks and credit institutions want to see a credit history, which few new companies have, before issuing that precious piece of plastic.
Henrique Dubugras and Pedro Franceschi, both age 22, founded Brex last year in order to address this problem. The company gives corporate credit cards to startups based on their available cash balance — including money raised through venture — rather than credit history. It launched out of stealth in June and has 1,000 customers signed up.
Brex has raised a total of $57 million from investors, including PayPal cofounders Peter Thiel and Max Levchin, early Facebook investor Yuri Milner, and Y Combinator.
With their permission, we're republishing the Brex Series B pitch deck to show how Silicon Valley startups win over their investors. Take a look.
The deck starts with the company's edgy logo.
The next slide shows the people behind Brex and their credentials, as well as the Silicon Valley A-listers who previously backed Brex.
The deck lays out the problem Brex is trying to solve. These are real replies from credit institutions where Brex applied for credit cards.
See the rest of the story at Business Insider
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