We wouldn't recommend Brex, read our full Brex review here to see why and check out our BILL Spend & Expense vs Ramp comparison instead.
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. ⤵
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The spend management platform for mid-size teams (customizable virtual cards, budgeting, auto-reconciling, and expense reimbursement).
Ramp is a corporate card and expense management platform designed to help companies control spend, automate finance tasks, and gain real-time visibility into expenses. It's a leader in the spend/expense management and accounting automation space, with a clean UI/UX, tons of reporting features, and fast search functionality. Ramp is built for scaling businesses who want better financial control without the friction of traditional banks.
They have a great UI/UX, tons of reporting/insights features, and a super clean and fast search functionality to find exactly what you're looking for:
Super fast, taking just minutes to issue cards and accounts.
Easy navigation with CMD+K search and an AI chatbot for help.
Immediate visibility into transactions and spend patterns.
Easy to configure budgets via spend programs and card restrictions.
Automatic retries and Gmail integration for company-wide receipt fetching.
Native integrations with top accounting platforms, plus powerful reporting and tagging features.
Alerts via mobile app, SMS, and Slack for ultimate visibility
1.5% cashback standard with less complexity compared to other tools.
Custom contract uploads and renewal alerts.
No annual fees, no user fees, and no hidden fees. Revenue comes from interchange fees and an optional paid tier for larger teams. BUT Important: You need around $25K in your business bank account at signup to get approved. Your credit limit will be based on your cash balance. If you're looking for an expense management solution with no bank minimum, then check out BILL Spend & Expense (typically better for smaller businesses while Ramp is better for growing/scaling businesses with cash flow).
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.
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