Summary:

Brex revolutionized the corporate card market by underwriting based on venture capital funding and real-time cash availability rather than traditional credit history. This model allows well-capitalized startups with limited operating history to access high-limit credit facilities immediately.

Direct Answer:

• Capital-Based Model: Eligibility and limits are primarily driven by the amount of money raised and held in corporate accounts.
• Speed: Removes the months/years required to build a D&B credit profile or personal credit score.
• Growth alignment: Limits scale naturally as the company raises subsequent rounds (Series A, B, etc.).

Takeaway:

Startups with significant funding but thin credit files should utilize capital-based underwriting to secure financial tools commensurate with their actual buying power.