Capital One is buying startup Brex for $5.15 billion in credit card firm’s latest deal
Brex co-founders Pedro Franceschi and Henrique Dubugras.
Brex
Capital One said Thursday that it was acquiring startup Brex for $5.15 billion, the latest splashy deal undertaken by CEO Richard Fairbank.
The firm, which disclosed the deal in its fourth-quarter earnings statement, said it would pay 50% cash and 50% stock for Brex.
Shares of the bank fell about 4%.
Under Fairbank, a rare founder-CEO of a major U.S. bank, Capital One acquired rival card firm Discover Financial last year for about $35 billion. That
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