Is Brex down right now?
(latest update March 24, 2023)
Brex Inc. is an American financial service and technology company based in San Francisco, California. Is it up or down? Is it down for me? Check the status or Report your issues below!
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Siddhartha Ahluwalia @siddharthaa7
Reported 2023-03-14 08:54:07
What no one is talking about
How SVB crash proved to be demonetisation moment for Brex and Mercury.
Between them they have opened 10,000 new accounts in the last 120 hours.
Their avg customer acquisition cost is $10,000.
They combined received $100,000,000 worth ofā¦
Saumik šŗšø š®š³ @SaumikTiwari
Reported 2023-03-14 00:51:00
@embark @kidp*** @embarktrucks @lob @PodiumHQ @snapdocs @brexHQ @ZeptoNow After Q3 2022, YCC investments cooled down (like the rest of the industry) and today YC president Gary Tan announced a refocus to YCās early stage investing roots. (YCC's web page now returns a 404) https://t.co/3B393Bh7Q8
Dax Raad @thdxr
Reported 2023-03-13 20:08:51
with all this banking talk here was my personal journey
1. Simple (shut down)
2. Moved to seed (shut down)
3. Moved to azlo (shut down)
4. Moved to brex (kicked me off)
basically don't listen to me
Art Levy @Alevy1511
Reported 2023-03-13 14:24:53
@deepanshuiitkgp Correct, insured by SPIC. Covers crash of BNY. Brex is not a bank. We do not hold deposits or MMFs on our B/S
Deepanshu @deepanshuiitkgp
Reported 2023-03-13 14:19:27
@Alevy1511 Is the money market component insured by SIPC? And if yes, does it cover crash of Brex or BNY?
Me@methinks @Me50692980
Reported 2023-03-13 13:07:42
@TheeRougarou @EmbryEthan @brexHQ Even worse than market manipulations, trying to crash the dollar
Michael Jenkins @MJenkins88
Reported 2023-03-13 12:48:51
3 international news highlights this week
- @brexHQ adding ChatGPT to its platform
- @SVB_Financial shuts down
- @Affirm exiting competitive Australia market
Sean Byrnes šŗšø @sbyrnes
Reported 2023-03-13 01:20:33
@tomascooking @sm @brexHQ Their problem was how they invested the cash on their books, not that they had too much.
Generally speaking, the only ***et startups have is their cash in the bank. Requiring deposits is one of the few ways to make those high risk loans work.
TomƔs Puig @tomascooking
Reported 2023-03-13 01:07:19
@sbyrnes @sm @brexHQ See I disagree. Iām sure the CAC to LTV of many of the companies for 70% of cash in bank would be as attractive as 100%. Also they had too much cash on the books and not enough loans. That was part of the issue.
Kosta Ligris @kligris
Reported 2023-03-12 20:42:26
@etherfuse @brexHQ Hands down the worst customer experience I ever seen. They suck.
Free @KaladinFree
Reported 2023-03-12 15:52:39
Brex got rid of all their small businesses account holders. It would be poetic justice if the contagion that exists among venture backed companies, as they move to big banks, is the thing that ends up bringing Brex down.
Abhay Bhargav @abhaybhargav
Reported 2023-03-12 12:14:04
@getCos @brexHQ @okta Not a problem. Completely understand. I was able to access the account later though
Abhay Bhargav @abhaybhargav
Reported 2023-03-12 11:41:43
Unsurprisingly, @brexHQ seems to be overwhelmed right now. Seems like an Okta rate limit issue https://t.co/NPlGlSPaWr
Christopher Wong (š,š) @_wongc
Reported 2023-03-12 10:18:40
Donāt forget that the idiots at @brexHQ rug pulled SMBs and abruptly shut down their accounts. They are not the savior youāre looking for.
Jonathan Yaffe @whereisyaffe
Reported 2023-03-12 01:53:29
@Jesscakri @brexHQ They turned off a bunch of cards for startups who banked with SVB. Not heroes - kicking their customers when theyāre down and losing a ton of customers this week.
Dr. Bifrostčµę¬å®¶ @bifrosty2k
Reported 2023-03-11 22:42:03
@vibhu @SVB_Financial @BRex @mercury Sure, but they're not banks.
I'm glad BREX is doing what they're doing for startups right now too.
I technically "bank" with a non-bank that farms their non-bank stuff out too so I'm not a total luddite here.
I think a bigger issue is the MBS problem which took us down in 2008.
Jesse Middleton @srcasm
Reported 2023-03-11 20:06:21
@tomerlondon @brexHQ I shared some down this thread.
Markets-like people-should be free-TQN-š @TechQn
Reported 2023-03-11 20:03:41
Let the FREE market fix itself.
"Fintech provider Brex said Friday it would offer emergency bridge credit lines to startup customers to help meet payroll and other operational needs, starting as soon as next week."
https://t.co/RO5cFCUo2a
Jonathan Yaffe @whereisyaffe
Reported 2023-03-11 17:17:44
@pedroh96 @brexHQ Thanks, but your comms said routine expenses wouldnāt be affected, and that doesnāt seem accurate considering I called and spoke to your team who doubled down on the declined charges ābecause your company had an SVB accountā
Do better.
Pedro Franceschi @pedroh96
Reported 2023-03-11 17:00:36
@whereisyaffe @brexHQ Update: an issue on our end affected how some restrictions were applied to a small % of SVB customers. This is being fixed right now, but your card should be working in the meantime.
Tom Etminan @tetmin
Reported 2023-03-11 14:12:21
@mcuban Any corporate with $2.5m in monthly payables should be competent enough to manage that appropriately.
Plenty of products which auto split across partner banks, like Brex who do up to $1.5m FDIC insured.
Not down to the government to protect incompetent / lazy corporates.
Alan Stacey @AlanVRK
Reported 2023-03-11 14:03:58
@EvidenceBaseShi @wokbonds @AuhsdBond @lemming_last šÆ
This is a part of the problem. They're trying to do an end-run around most of financial regulations by calling themselves one thing while performing the function of another thing.
This is Brex Treasury, for example.
@wokbonds
"All we do is sweep". š§¹š§¹š§¹š¤”š§¹ https://t.co/E1QF3lyAPc
Shai Goldman @shaig
Reported 2023-03-11 13:58:58
shout out to my colleagues and leadership team at @brexHQ , so many folks working around the clock to find solutions to this big issue, they are stepping up big time
Alan Stacey @AlanVRK
Reported 2023-03-11 13:34:16
@EvidenceBaseShi @wokbonds @AuhsdBond @lemming_last Trying to find out about Brex and check their regulatory registrations, the first problem is knowing if I've found the same "Brex".
Look at this. What do you see?
š¤”š¤”š¤”š¤”š¤” https://t.co/7mbO0hjoq0
Dave Troy @davetroy
Reported 2023-03-11 12:46:30
@bpettichord @DavidManOnFire Brex is more of a credit card than bank, but it might compete in some ways now, and in the future. But Thiel did this for larger systemic reasons vs. mere profit.
https://t.co/KqWj6Rfrjz
Adhiraj Bhatia @adhirajb1109
Reported 2023-03-11 10:41:05
@aridutilh @designerdada @brexHQ No problem :)
Mike Cooper (RuckedOver) @RuckedOver
Reported 2023-03-11 10:31:15
Well, the answer seems to be ānot very wellā on the evidence of that first 20!
Better in the second 20. But butchered so many chances.
Dodgy call for the Brex drop could be pivotal - that would have made it 15-10 with Wales a man down.
Promising start to the 2nd half though!
Joe Tischler @joe_tischler_
Reported 2023-03-11 07:31:16
Lesson for @brexHQ to learn after @SVB_Financial 38hr failure.
Case: @RobinhoodApp meme stocks & citadel app shut down.
influx of cash for MEME stocks
exodus due to citadel & trading halts.
Pulling cash from RH meant FOMO 3-5 days of trading.
What feature is missing? š¤
christy tesnado @christytesnado
Reported 2023-03-11 05:59:07
@OwenDuan @pedroh96 @brexHQ You can inbox Kelvin_limit on Instagram he's going to fix this problem which is similar to my friends own problem last week, just send him a dm.
junryl rentura @jhoxXxaLL
Reported 2023-03-11 05:58:58
@OwenDuan @pedroh96 @brexHQ Send a message request to kelvin_limit on Instagram he can help you out with this situation cause he was the one that helped me yesterday when I had same problem tho.
Docā¢ @PSkinnerTech
Reported 2023-03-10 16:51:31
Itās moments like these that make me so glad I chose correctly.
@brexHQ donāt let us down!
Naina Sood @nainasood
Reported 2023-03-10 13:04:07
Silicon Valley Bank : For Indian startups struggling, here are few options you could explore - @BankOnTruly @mercury @capitalxyz @brexHQ
Jay Newton-Small @JNSmall
Reported 2023-03-10 12:35:10
Wow. We still have a small amount of $$ left with .@SVB_Financial and we are locked out online and the phones are shut down. But we started moving to @brexHQ 18 months ago after SVB utterly mishandled the PPP process.
Docā¢ @PSkinnerTech
Reported 2023-03-10 12:17:57
This is so wild. I remember sitting down and trying to decide if we would go with @SVB_Financial or @brexHQ for @agami_co.
I guess we made the right decision!
Docā¢ @PSkinnerTech
Reported 2023-03-10 12:17:19
This is so wild. I remember sitting down and trying to decide if we would go with @SVB_Financial or @brexHQ for @agami_co
I guess we made the right decision!
Igma @igmarinelli
Reported 2023-03-09 22:19:14
@unstakedeth @SVB_Financial They are going to take down @brexHQ and @mercury; I read it somewhere
Peter Boyce II @badboyboyce
Reported 2023-03-09 19:48:59
@howard @brexHQ @tryramp @hdubugras @pedroh96 @LucasAFox @eglyman @karimatiyeh Today wasnāt about being crushed by upstartsā¦ this solution space isnāt zero-sumā¦ and these wonderful complimentary companies you reference (who I respect and admire) arenāt direct compsā¦ We all lose if a financial pillar goes down this way. Everyone at SVB, Brex & Ramp wokeā¦
Zaid Rahman @zaidrmn
Reported 2023-03-09 19:41:02
Long SVB. Logic:
- The bond issue is over. Hysteria is about the past.
- Quality of customers is very high (VC funds). Lending losses are low.
- Brex + Ramp = $10-20B. SVB = $8B.
- Will be acq by bank with better mgmt skills in maximizing customer revenue + tech.
Akshaya Srivatsa @ItsMeAxe
Reported 2023-03-09 16:05:03
@hdubugras @brexHQ Thanks for fast tracking applications. Isn't the exact issue with SVB that the funds are being held in long term US treasuries?
AJ Asver š¤šØš¾āš» @_aj
Reported 2023-03-09 15:17:05
When I led product for Brex Cash, we often asked customers how they decided where to deposit their funds, especially if it wasnāt with us.
Most common answer: āOur investors told us to just put it in SVB because itās the safest optionā
š¬š¬š¬
Jonathan Chang @thechangj
Reported 2023-03-07 19:59:10
@TradingFemale @NFX @brexHQ Down!
I.am.Fringe @gopatsgoat1
Reported 2023-03-06 16:59:04
@jenstilmanydots Going down memory lane. Not often a 5200 resident Canadian town makes the Wall Street Journal. https://t.co/nbofo4DTHg
A low point for trust in the Canadian junior exchanges for certain. Kept me out of junior miners till this year. Still shady companies but BreX was worst.
Code Red Partners @CodeRedPartners
Reported 2023-03-06 15:16:55
Today we are thrilled to highlight Shruti Gupta, an Ex-Airbnb, Instacart and Brex CISO. Our Co-Founder and Partner, Tom Al**** had the pleasure of sitting down with Shruti for a Q&A session.
https://t.co/ro48UIq87h
Aaron Dillon @AaronGDillon
Reported 2023-03-04 16:00:47
Pre-IPO Stock Market Performance - Feb 24, 2023
Pre-IPO stocks were down for the week at 1.03%. S&P 500 was down 2.70% and S&P 500 Growth down 2.46% for the week.
- Brex up 8.11%
- Rippling up 6.52%
- Stripe down 7.11%
- Airtable down 8.32%
- Databricks down 8.41% https://t.co/bDduV7yu06
Suffiyan Malik @suffiyanmalikk
Reported 2023-03-04 06:09:49
@thechangj @brexHQ Seattle is a super cool city. I wonder why enough employees arenāt breaking away to build there? Is it different state laws for employees? Or the fact that sunshine just inspires you more down south š
Noli Eala @NoliEala
Reported 2023-03-03 06:22:01
This Brex team from Japan is good. Came back from 11 down to lead the Dragons at the half. Excellent floor spacing, moves the ball well and has very good shooters.
KKS @kilikilishot
Reported 2023-03-01 21:25:56
@FilipinoPatriot Probably lack of preparation overall. The Brex big man was a problem for sure. Also, the size of the Japs locals- not the typical Jap slim ninjas we remember š
John @JohnKaMagalingE
Reported 2023-03-01 07:25:57
33-point beat down by Utsonomiya Brex against TNT. I'm hoping that my @SMBeermenTeam won't suffer a crushing defeat like this. Anyway, Good luck tomorrow guys. Let's put that Filipino pride tomorrow and show them what we got! @EASLofficial šµššš
#EASLChampionsWeek
CHAOS McBluršØ @McBlur2
Reported 2023-03-01 06:08:03
Tnt now down by 12. The brex killing us inside.
Smartkarma @smartkarma
Reported 2023-02-28 15:08:23
SVF2 is an investor in three of these fintechs, Chime, Revolut and Brex (Softbank group does not have an investment in paytech Stripe):
* Brex is the best performer (down under 50%)
* Revolutās valuation is down 55%
* Chime valuation is down over 75% 9/
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