“Capital One has agreed to acquire fintech corporate card provider Brex for $5.15 billion in a cash and stock deal.”
Brex was the YC unicorn that was going to disrupt corporate banking and grew to a $12 billion valuation in 2022. The acquisition closes at half that. The fintech bubble is finishing its quiet deflation, one acquihire at a time. The remaining startups in the category are not getting bought at any price. They are getting unwound. Brex got out at fifty cents on the dollar, which is better than most.