EU Payment Institution License Granted to Brex, Paving the Way for Global Growth
Brex Expands into the European Market with EU Payment Institution License
Brex, a leading financial platform for companies, has secured a Payment Institution (PI) license in the European Union, paving the way for its expansion into the continent. The license, obtained via the Netherlands, allows Brex to directly issue commercial credit and debit cards, as well as offer payment origination capabilities, including direct debits and credit transfers, throughout the EU.
Mark Topping, Group Finance Manager at Ooni, a global leader in home pizza ovens, expressed his team's enthusiasm for Brex's platform, stating that it's "so easy to use." Brex's services have been beneficial to Ooni, enabling them to unify their global card program, streamline spend management, and reduce reliance on fragmented financial systems.
With the EU PI license, Brex plans to expand its services across all 30 countries in the European Union. The company will offer its full suite of products, including corporate cards, expense management, and treasury tools, to European enterprises, marking a significant shift from its previous limitation to U.S.-based customers.
The phased rollout within the EU is set to begin in the coming months, with the expectation that Brex will be fully operational by early 2026. In addition, Brex intends to secure a separate license to support UK-based customers, signaling its upcoming expansion into the UK market.
Brex's European expansion strategy prioritizes high-growth and multi-country operating businesses, with around 1,500 EU customers already on board. The company will operate under the Netherlands license as a hub for the EU market, enabling businesses across all EU countries to access spend management products directly, without workarounds.
Initially, Brex will not offer banking and bill pay services, but plans to roll those out later. Pedro Franceschi, CEO and Co-Founder of Brex, expressed his pride in what the new licenses will unlock for both Brex and its customers, stating that it takes the company one step further in enabling direct service to EU-based businesses.
Brex has already established offices in the Netherlands with local teams across sales, operations, and customer success. A dozen team members are currently on the ground in the Netherlands, with plans to scale as Brex continues to grow its European footprint.
The EU PI license deepens Brex's strategic moat and reinforces its position as the financial platform of choice for companies with global operations. Nearly half of current Brex customers operate in more than one country, and the company's proprietary global payments infrastructure powers a truly integrated solution, setting it apart from U.S.-based competitors who rely on third parties and support only a few currencies.
In summary, Brex's EU PI license sets the foundation for broad, direct service expansion throughout Europe complemented by plans for UK expansion, with full service availability expected by early 2026. The expansion is expected to unlock new opportunities not only for Brex but more importantly for the global founders and finance teams it serves.
- The EU Payment Institution license acquired by Brex opens up opportunities for the financial platform to offer its services, including corporate cards, expense management, and treasury tools, to businesses in the global technology sector across all 30 countries in the European Union, revolutionizing business transactions and finance.
- With the expansion into the European Market, Brex plans to leverage technology to streamline financial operations for European enterprises in various business sectors, aiming to provide a seamless and unified financial solution for global enterprises.
