Nick Abouzeid @nickabouzeid
Reported 2022-06-27 16:13:02
@arnabdotorg @klochner @brexHQ @tryramp Students shouldn't need a 0% APR card to float cash to their employer/club. The school/university should just sign up for Ramp & issue them a Ramp card.
(a LOT easier than underwriting college students with no credit history or income)
Tony Nutley Europe 🇪🇺🇬🇧🇮🇪🏳️🌈 @TonyNutley6
Reported 2022-06-26 15:59:00
@johnredwood The sooner you lot of #ToryLiars are out office the better you and your #BrexitLies #brex have broken the country
Cloud Accounting Podcast @CloudAcctPod
Reported 2022-06-26 13:03:45
Why #Accountants Don’t Trust Tech
@BrexHQ bails on 1000s of #SmallBiz
@Clearspend pulls the plug
@Intuit shutting down @QuickBooks API connections
#Crypto crash continues
Sponsored by @Canopy
Gio 🧙♂️ @CasinelliG
Reported 2022-06-26 10:08:06
If your account has been shut down by @brexHQ please send a DM. Happy to onboard you with @AspireSEA
Arturo Duran @duranaca
Reported 2022-06-23 15:54:33
Definitely @jeeves_inc @Square @PayPal @Wise @ReserveRSR @AuroraProtocol @NEARProtocol @solana @SoftBank @ccossio @CLAUDIAGSS @brexHQ
Enoma 🇳🇬 @_helloitse
Reported 2022-06-23 14:34:24
When @AzloNow shut down I frantically looking for a bank in time for my PPP loan. I opened a @brexHQ account and a @BankMercury account. I'm thrilled to say I put most of my eggs in the Mercury basket.
It's a shame, I won't be able to recommend Brex with confidence anymore
Reported 2022-06-23 13:59:11
@immad Can someone from Mercury please help? Our application has been stuck for 6 months and now our Brex account is being shut down. We'd like to switch to Mercury, but so far @mercury has been no help at all, with a very glitchy onboarding process.
Reported 2022-06-21 18:53:10
@Mitch_Deedsy @brexHQ @Divvy_HQ Seems your signup is broken as well https://t.co/5V5fonaYdH
Alex Johnson @AlexH_Johnson
Reported 2022-06-21 18:09:01
3 Fintech News Stories 📰
#1: Brex struggles with the Y Combinator problem.
#2: Klarna’s investors aren’t living up to their end of the deal.
#3: A new startup in the commercial lending space proves that we are indeed “still so early” in fintech.
Ron Shevlin @rshevlin
Reported 2022-06-21 16:26:27
@dublubee @JimMarous @sytaylor @mikulaja @efipm @BrettKing @RAlexJimenez @sammaule @Chris_Skinner @SpirosMargaris @Xbond49 @leimer @davidjmaireles @UrsBolt @LedaGlyptis @NorthOneApp @banknovo Thanks for asking—I don’t. Much more optimistic about the opportunities with small businesses, but the problem has been that fintechs have approached the market focusing on “small businesses.” That’s not a ****genous segment. I think that’s why Brex pivoted out of the SMB market.
tigs 🍄 is having fun staying poor @0xtigs
Reported 2022-06-20 16:58:49
@jasonjzhao @troostin @brexHQ @ElysianHouse @thechangj down 2 clown 🤡
Reported 2022-06-20 13:50:08
“Brex-it” got you down? Relay Financial wants to give former Brex customers $150 https://t.co/gsD8EzwZU3 via @FrequentMiler
Frequent Miler @FrequentMiler
Reported 2022-06-20 13:45:39
"Brex-it" got you down? Relay Financial wants to give former Brex customers $150 https://t.co/ZmaMhDhS6h
Reported 2022-06-20 13:19:34
Between Brex and Google’s latest announcements it sounds more and more like SMBs are getting ****ed. Could be an opportunity for companies like @Shopify and @blocks to double down on ecosystems and deepen their ties with SMBs.
Emilio Bolívar @hepperethic415
Reported 2022-06-20 10:42:59
@circlepay @hdubugras @brexHQ @jerallaire Fiat money is the basis of corruption, #Bitcoin might not fix everything, but it’s a damn good start. Separation of money and state
If you aren’t following @C93Colleen you should be. There aren’t many who have a better understanding of value investing, great tweets so far.
Miles to Memories @milestomemories
Reported 2022-06-20 09:20:11
(Update) Brex Is Shutting Down Accounts Without Warning https://t.co/QCOncN3SdK https://t.co/nRP4A1Z6Aa
Sean Dawes @SeanDawes
Reported 2022-06-19 18:25:07
@itsnoahlenz @pedroh96 @brexHQ Sadly its the same perspective banks have. I remember back in the day banks use to tell me I needed to make more W2 income whereas I said "why I dont need it, I invest everything I dont need back into my business." The system is broken imo
Sean Dawes @SeanDawes
Reported 2022-06-19 18:15:55
@cryptobmac80 @rynhayden @pedroh96 @brexHQ @arrington @_BuildOnline Happy to help think of ideas to help the problem. Guessing you were using it to float the terms you give your clients?
Edouard Asmar @EdouardAsmar
Reported 2022-06-19 16:07:23
Check out this article for a look at why I think Brex made this difficult decision and why (spoiler alert) I think it’s a symptom of a broken market.
Reported 2022-06-19 03:37:49
https://t.co/DCCqPoDXGG - Brex says it will no longer work with SMBs that do not have venture funding and will shut down "tens of thousands" of accounts after August 15 (Mary Ann Azevedo/TechCrunch) #tech #mobile
Reported 2022-06-19 03:19:41
@Rolo_Tamasi @crimlawuk No no take it down it doesn't fit their narrative .. it's all brexits fault , lack of microchips ,brexit . Fuel price hike ,brexit. US president falling off a bike ,brexit , NHS delays ,brexit .lack of foreign labour ,brexit , world high inflation you guessed it brex er pandemic
Jules Ehrhardt @ezyjules
Reported 2022-06-18 22:22:10
@zaidrmn @TurnerNovak @shaig @miekd Oh wow. That’s a lot if hard work Brex did flushed down the toilet. Go get em Zaid!! https://t.co/TmBmF3UaqR
Reported 2022-06-18 13:37:50
@MikeMoiseCPA @brexHQ @hollyaoneill How can you say "All about getting it right for our clients" Legal department has refused to work with law enforcement regarding a fraud issue. Julie S. would rather lose me as a client (139k paid in fees) BofA has not made it right for this client.
Andrew Smith @andosmith
Reported 2022-06-18 11:54:01
@pedroh96 @brexHQ "Our brand is serving flashy funded tech startups not this janky mom and pop crap. Stop dragging us down. p.s. we'll miss you."
Reported 2022-06-18 10:44:48
@pedroh96 @brexHQ We cut out 99% of businesses to explain our 99% mark-down in stock value. We were over hyped and overrated and have no real way to return investor capital until the market is overly frothy.
We're scaling down & reducing burn aka layoffs to hope the $$$ party returns.
Jay Bourgana @JayBourgana
Reported 2022-06-18 02:53:20
@pedroh96 @brexHQ Not a problem dude! I'm happy with my Chase account. I ❤️ big banks.
Talk Of News @TalkOf_News
Reported 2022-06-18 01:56:24
Exclusive: Brex says it will no longer work with SMBs that do not have venture funding and will shut down "tens of thousands" of accounts after August 15 (Mary Ann Azevedo/TechCrunch) https://t.co/PsJ6EyVXrR
Reported 2022-06-18 01:34:17
@zachtratar @thejo $Bill is down to $11b and it’s magnitudes larger than Ramp and Brex I would imagine in terms of revenue and moving towards profitability
Money vs. Machine @moneyvsmachine
Reported 2022-06-18 00:33:12
@pedroh96 @brexHQ Maybe it’s because @AmericanExpress “owns” the small business segment and you bit off more than you could chew.
Plus, they released a product that started cutting into your startup segment.
So you either take Amex head-on in Small Business or you double down on startups.
John Stack @JOHN_JACK_STACK
Reported 2022-06-18 00:26:49
@pedroh96 @brexHQ Pedro, so startup/SMB are different? How? By age? Funding? Each have the same problem. You mentioned service levels. Huh? You deliver the best you can to everyone you can. One of the strangest posts I’ve read. Knowing your customer is important but wow.
Bryan Barton @Bryan_Barton
Reported 2022-06-17 22:15:21
In my personal experience from the CEO down. Being a customer of @mercury has been an absolute delight & being a customer of @brex was a disaster. I will discuss details to anyone in the #Sactech community. I have full faith that @immad will implement all the #Brex features soon!
Reported 2022-06-17 22:13:53
@pedroh96 @brexHQ TLDR: It comes down to the growth network. Startups are growing exponentially thus their network of users expands with them faster than small business. Yada yada they are sad to cut ties but giving the SB two months.
Brian Sowards @briansowards
Reported 2022-06-17 20:36:58
@pedroh96 @brexHQ We’re a happy Brex customer.
💯product choices are identity choices. avoiding them doesn’t fix anything.
That said, we’re hedging now
we’re committed to community-based growth in a new category
Who knows if it’s fast enough? 🤷♂️
Peter Dimov @psdimov
Reported 2022-06-17 19:00:38
@pedroh96 @brexHQ Seems like an odd time to trim down to only vc backed / funded clients 🤔
Quinn 🚲 @Mqsley
Reported 2022-06-17 16:47:44
@DanielJCruz @brexHQ nah I came through techstars - i'm getting shut down
Edouard Asmar @EdouardAsmar
Reported 2022-06-17 16:28:03
@thelisatweetsa @pedroh96 @brexHQ @WithHansa we are trying to address the acquisition cost problem by empowering small businesses to leverage the power of their data. If you are a small business owner who wants better or were affected by this change please DM!
Dave Friedman @friedmandave
Reported 2022-06-17 14:12:42
An interesting thread. I had ***umed that Brex was making these moves because it was over-exposed to VC-funded startups, which have collapsed as of late. But it sounds like the issue is more that Brex wants to retrench and focus on a certain kind of customer.
Sandeep Todi @sandeeptodi
Reported 2022-06-17 14:02:43
Don't get me wrong here. I am a big admirer of what Brex has built and scaled. They've been a torchbearer of what fintech can do.
And, it was built by immigrant entrepreneurs who wanted to solve a problem they faced (just like I and my cofounder @kanchankumar did).
Reported 2022-06-17 13:59:29
@JoshFintech @wifemomcpa100 Brex didn’t shut down.
Tim White @itstimwhite
Reported 2022-06-17 13:43:24
@pedroh96 @brexHQ This is a perfectly fine business decision but the way you communicated it to customers has broken trust, which is incredibly important for a bank, especially given what’s going on right now.
Tim White @itstimwhite
Reported 2022-06-17 12:55:20
@al1meister @brexHQ I was told we were a mistake and we shouldn't have received that notice. My problem is the lack of transparency. The move away from non-tech is SMB is fine, but the email didn't make that clear. This is not the time for banks to communicate cryptically.
Reported 2022-06-17 12:37:01
For startups impacted by @brexHQ account shutdowns, we've got you!
Dante Vitagliano 🤘 @DanteVitagliano
Reported 2022-06-17 11:38:22
@itstimwhite @brexHQ @BankMercury hands down
Dimitris Kouvaros (🇬🇷) @DKmitsos
Reported 2022-06-17 10:32:23
@itstimwhite @brexHQ I work at SVB and I’m always down to talk 👋
Philip Pages🔥 @philip_pages
Reported 2022-06-17 09:05:20
@obviceo @BlakeTOliver @brexHQ @RelayFinancial The word on the street is that Brex is shutting down accounts left and right without warning
Nkechi 🏝 @nkechiiregbulem
Reported 2022-06-17 08:37:03
Instead of employee layoffs, Brex has gone down a different path..firing its SMB customers 🧐
Tal Hoffman @talhof8
Reported 2022-06-17 08:24:21
Brex (@brexHQ) decided to cut down access to small businesses and push upmarket instead.
Tough decision that might make a lot of sense business-wise, but is definitely a breach of trust with their customers and should be🚩for others.
Also, quite an opportunity for competitors. https://t.co/R9FCRf32Ms
Angik Sarkar @kyunbit
Reported 2022-06-17 03:47:08
Does anyone know what is happening with @brexHQ?
@hdubugras @pedroh96 accounts are getting shut down, despite legitimate regular use. There should at least be an explanation why! It's a pain to shift business credit card spending.
Mario Amaro 🐶 (The Private Practice Doc) @MarioATX_MD
Reported 2022-06-16 23:27:24
So Brex is shutting down checking accounts with no explanation and I wonder when their #1 competitor will start doing the same.
Can’t be everything to everyone. Especially healthcare. Why what we’re building at @DocSpace is critical to the future of SMB.
Reported 2022-06-16 20:17:17
I actually support Brex on this… much better to serve a smaller niche extremely well than to be for everyone.
And based on the whiny tweets I’ve been seeing from people that got shut down… they were probably driving up the customer support costs at no benefit to Brex.