Its the latest deal under Rich Fairbank, a rare founder-CEO of a major U.S. bank, who acquired rival card firm Discover Financial last year.
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Capital One
said Thursday that it was acquiring payments startup Brex for $5.15 billion, the latest splashy deal undertaken by CEO Richard Fairbank.
The firm, which disclosed the deal in its fourth-quarter earnings statement, said it would pay 50% cash and 50% stock for Brex.
Shares of the bank fell about 3%.
Corporate credit cards may seem mundane, but adding Brex to Capital One’s credit card platform, which now includes Discover, and…
Capital One announced it’s acquiring small business banking fintech Brex for $5.15 billion. Is it a good deal? There are pros and…
Capital One Financial services has completed its acquisition of former credit card rival Discover Financial Service, the…
The move shows how some banks are choosing to partner with fintech firms rather than building their own platforms to keep up with…
The biggest takeaway from the quarter was better-than-expected credit performance.
Despite its depressed valuation, the fintech’s longtime backers were probably keen to cash out
