Capital One acquires Brex for $5.15B

From the announcement:

Today, Brex and Capital One are announcing the largest bank-fintech deal in history for $5.15B, joining forces to build the most important financial platform for businesses in the US.

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To give you a sense of the scale of what we’ll build together, Capital One today operates orders of magnitude ahead of Brex on almost any metric: $900B in annual card GMV, $700B in assets, $150B in market cap, a $6B marketing budget, and a $6B R&D budget. By combining Brex’s technology, product, and go-to-market success with Capital One’s unprecedented scale, brand, distribution, and balance sheet, we will supercharge our go-to-market and product development with levels of investment that will accelerate our mission by over a decade.

Quite the exit for YC...! Congrats to @pedrofranceschi and the team!