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Why Tech Startup Brex is Redesigning Credit Just for E-Commerce Brands

Financing the daily workings of an e-commerce brand can be a complicated task, even when profitable. From marketing costs and inventory investment to work travel, brands need to spend money. So far, there were few dedicated credit solutions to accommodate this. Enter fintech start-up Brex. The firm rolled out its new e-commerce offering last month and now counts shoe company Soludos among its customers.
“We are a seasonal business and when we get into season, our spend scales really quickly,” said Brigid Foster, chief operating officer at Soludos. “We were constantly maxing out our corporate card and spent way too much time managing and paying down on the card so we didn’t miss opportunities to fund marketing to our e-commerce customer.”
These challenges aren’t unique to Soludos; something that Brex recognized and decided to capitalize on. Its existing credit service for start-ups, which includes 30 days of credit and a robust rewards program attached to the card, wasn’t suited to the e-commerce business model. Start-ups tend to have cash in the bank but need an approved method of payment; e-commerce companies are looking for working capital on top of that.
The new e-commerce offering combines both traditional corporate cards with a line of

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Via:: https://footwearnews.com/2019/business/retail/brex-credit-solutions-e-commerce-1202765510/