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Brex — Seed Corporate cards for startups.
A YC deck that read like a footnote: 'Stripe for cards.' Three slides in, that footnote had become the thesis. The insight: startups can't get corporate cards, and that's absurd.
Slide breakdown — 9 slides 01 COVER Brex ↓ Corporate cards. No personal guarantee.
02 PROBLEM Startups can't get a corporate card. ↓
03 INSIGHT A startup's investors are the collateral. You just have to underwrite it. ↓
04 SOLUTION A corporate card that uses VC funding as collateral. ↓
05 TRACTION 200 YC companies onboarded in 3 months. ↓
06 MARKET 30,000 VC-backed startups spend $30B+ on corporate cards annually. ↓
07 BUSINESS MODEL Interchange + premium software subscriptions. ↓
08 TEAM Two Brazilian founders who pivoted from VR after they couldn't get a card. ↓
09 THE ASK $7M to become the default card for every YC company. ↓