While several lenders have historically offered loan services to start-ups, Brex is looking to take advantage of the increase in venture debt financing with a $150 million fund. The newly launched Brex Venture Debt will look to compete with the likes of Silicon Valley Bank, American Express and Bank of America Corp. to offer early stage venture-backed businesses an alternative financing option.
Brex, which ranked No. 6 on this year’s CNBC Disruptor 50 list, offers start-ups high credit lines and software to manage their finances and credit lines. While its main product – an unsecured, high-limit charge card for start-ups