Capital One Acquires Brex for $5.15 Billion, A Steep Discount to Its $12.3 Billion Valuation, But Early Investors Reap Big Rewards

Capital One acquired Brex for $5.15 billion in cash and stock, a significant discount to Brex's last private-market valuation of $12.3 billion. Early investors, including Ribbit Capital, are likely to see a substantial return on their investment, multiplying their initial bet by around 700-fold. The acquisition comes at a time when Brex's rival, Ramp, has seen its valuation soar to $32 billion.