Today’s Daily Digest was crafted by Product Hunt and sponsored by our friends at Brex.
You may recognize Brex from its subway ads in New York City or giant billboards spread throughout San Francisco. Brex is making a splash.
Brex, a Y Combinator-backed startup that provides corporate credit cards for other startups, raised $100M in debt financing from Barclays last week. The news comes just six months after a $215M equity round, valuing the company at $1.1B. Did we mention that the founders — Henrique Dubugras and Pedro Franceschi — are only 22- and 23-years-old?
So how does Brex work? 👀
Through its Rewards program, Brex offers perks that include multipliers like 7x on rideshare, 4x on travel, 3x on restaurants, and 2x on software, plus access to a lounge in San Francisco for Brex card holders. And Brex gives entrepreneurs a credit limit that's 10-20 times higher than other services.
Brex is also shaking things up by giving founders access to high-limit corporate credit cards without requiring a personal guarantee or deposit. For anyone without a credit score (like many immigrant founders), this is game-changing. Brex is also part of Mastercard World Elite, giving early-stage entrepreneurs total fraud protection and travel benefits, like no foreign transaction fees.
The kicker? Founders can secure one of these cards in five minutes. The company offers instant approvals with a virtual card, and then you’ll receive your physical card 3-5 days later. Oh, and it’s worth mentioning — there’s no annual fee. 💸
Want a Brex card?
"It's refreshingly cheesy."
A *new* mobile shopping network called 'Down to Shop' launched yesterday. It's a modern take on QVC and lets users watch funny videos that feature products which can be purchased directly from the app. 🛍