Brex acquires accounting software company Pry Financials

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US fintech Brex has acquired Pry Financials, a software platform that provides budgeting, forecasting and accounting tools, for $90 million.

Brex acquires Pry Financials for $90 million

The deal will see Brex expand its software offering for founders, allowing users to project cash flow, track budgets and plan scenarios using dashboards and visualizations.

“Pry was designed from the ground up to help founders understand their business simply and efficiently. To help them scale, raise their next round of funding or plan an exit, says Henrique Dubugras, CEO and co-founder of Brex.

Pry is for startups and founders looking to streamline their accounting processes, making it easier to track and categorize revenue and costs, design a financial plan, and create custom formulas for forecasting.

Founders can directly connect their company’s bank accounts or integrate with QuickBooks or Xero to gain insight into their startup’s cash flow, burn rate and track and track critical financial metrics.

Pry Co-Founder and CEO Andy Su says, “Our goal has always been to help as many founders as possible run their businesses more efficiently. With the scale and reach of Brex, we can have a much bigger impact right away. »

Brex offers a number of financial products for high-growth businesses, including credit cards and cash management accounts.

In January, the fintech named tech veteran Karandeep Anand, formerly at Meta, as the company’s chief product officer (CPO).

In August last year, Brex reached an agreement to acquire Israeli startup and tech partner Weav for $50 million.

Since its inception in 2017, Brex has raised a total of $1.2 billion from investors and is currently valued at $12.3 billion.

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