We believe there are better options available in this category, read below to learn what this software does well, and what they could do better. ⤵
.webp)
The financial platform for your global ambition. Global spend & expense management solution.
Airwallex is our top pick for managing international payments and multi-currency business operations.
It’’s a full-stack financial platform built for global business. With Airwallex, you can spin up local business accounts in multiple currencies, pay contractors around the world, hold and spend money without being forced into conversions, and manage team expenses all from one dashboard.
We’ve used it ourselves, and the experience couldn’t have been easier. The first time we paid our Australian video editor through Airwallex, he simply sent us a US-based bank account (powered by Airwallex), and we paid him in USD like he lived down the street. No FX headaches. No clunky setup. It just worked.
If you have vendors or customers oversea's, Airwallex is seriously a must-have for your business. Instead of piecing together tools like Wise, PayPal, your bank, expense management solutions, and virtual cards, Airwallex takes care of ALL of it for you.
And the best part? Business accounts are free, so go ahead and sign-up for an account.
A spend management (virtual credit card) platform for venture-backed startups and large teams. They also have a barebones checking account product called Brex Cash.
Brex has run into a bit of an odd situation in recent years—while focusing on growth, they apparently took on too many small-mid size businesses, which led to them axing accounts of many of their customers out of nowhere. They are now only allowing venture-backed startups onto their platform, or mid-size businesses doing at-least $400k/mo in revenue ($4.8m/yr).
We actually had a Brex account for many years when first evaluating it (checking in on how it evolved over the years), and recently, we were actually one of the many that were pulled into the axing account mess (luckily we ultimately decided on Divvy after initial evaluation of Brex, and have been happily using Divvy for 5+ years now). That said, when trying to log back into my account to add some screenshots to this post, I was met with a redirection loop and the following message from support upon reaching out:
While they have a "banking" component, it's more of just a simple checking account, and their banking features are not as robust as that of a full-fledged business-focused bank like Mercury.
All-in-all, they seem to be relying quite heavily on their YC network, getting most YC companies to use them by offering as many perks to them as possible. When actually comparing Brex against the competitors though when it comes to automatic reconciling of your expenses in your accounting software, and just overall UI/UX, there's a lot to be desired—Divvy and Ramp are far superior in many of those areas.
.svg)
.jpg)
.svg)
.svg)
.svg)
.svg){kind=icon}
.svg)
.svg)
