Brex Secures Major EU Licensing Milestone, Aims for UK Expansion

Brex, a financial services provider, has obtained a license in the European Union, allowing it to directly issue credit and debit cards and offer its spend management products to businesses in all 30 EU countries. This expansion means Brex can now sell its products to any business in the EU with no workarounds required, although banking and bill pay services are not available initially. The company plans to expand in the UK and is on track to stop burning cash in 2025, an important milestone for its future IPO.

Brex, a leading financial services provider, has secured a significant milestone by obtaining a Payment Institution (PI) license in the European Union. This license allows Brex to directly issue credit and debit cards and offer its spend management products to businesses across all 30 EU countries. The company had previously been limited to supporting companies with a U.S. presence, but the new license removes this restriction, enabling Brex to operate seamlessly within the EU market [1].

With this license, Brex can now provide its full suite of products, including corporate cards, expense management, and treasury tools, to European enterprises. The company has already established a presence in the Netherlands and plans to expand further, with a phased rollout expected to begin in the coming months [1]. Brex aims to be fully operational in the EU by early 2026, with a focus on serving the growing number of high-growth businesses operating across multiple countries [1].

This expansion is a strategic move for Brex, as it underscores the demand for global financial support. The company already serves 1,500 customers with EU operations, and nearly half of its current customers operate in more than one country. Brex's proprietary global payments infrastructure powers an integrated solution, providing businesses with less friction and best-in-class payment capabilities [1].

Brex's CEO and Co-Founder, Pedro Franceschi, emphasized the importance of this license in deepening Brex's strategic moat and reinforcing its position as the financial platform of choice for companies with global operations. "Over the last seven years, we've built the global payments infrastructure to support customers in more than 200 countries and 60+ currencies," said Franceschi. "This license takes us one step further, enabling Brex to directly serve EU-based businesses and their subsidiaries with locally accepted cards, less friction, and best-in-class payment capabilities" [1].

The EU PI license is a significant win for Brex, but the company's plans do not stop at the EU. Brex is also looking to expand its operations in the UK, with plans to secure a separate license to support UK-based customers in the coming months [1]. Additionally, Brex is on track to stop burning cash in 2025, an important milestone for its future IPO. The company's revenue is expected to reach $500 million this year, marking a significant turnaround from the challenges it faced in 2023 [2].

Brex's competitive win in the international market comes as its U.S. fintech competitors are also experiencing growth. Companies like Ramp and Mercury have recently raised substantial funding, hitting significant valuations. Despite this, Brex continues to innovate and expand its global footprint, positioning itself as a leader in the global financial services landscape.

References:
[1] https://www.prnewswire.com/news-releases/brex-secures-eu-payment-institution-license-unlocking-next-phase-of-global-expansion-302524388.html
[2] https://techcrunch.com/2025/08/07/ipo-hopeful-brex-scored-major-win-to-sell-in-the-eu-plans-uk-expansion/