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It's really disappointing to see the trajectory that Brex is on. I was extremely enthusiastic about their product, they had the best business banking/credit/exp

It's really disappointing to see the trajectory that Brex is on. I was extremely enthusiastic about their product, they had the best business banking/credit/expense tracking in the industry. I was a very happy customer, until they decided they would only chase SV startup unicorns as their customers, and terminated my account. Brex is very much a cautionary tale for other startups.

yesimahuman 3y ago
They lied (or did not clearly inform their sales people) about their AWS credit promotion a few years ago which really annoyed me when they were trying to sell us. Went back to the safe embrace of SVB but I guess that didn't really play out well. As a startup I desperately want to see more credit card companies willing to offer cards to founders without ridiculous personal guarantees, so I hope they figure it out.
- mise_en_place 3y ago
  I have used SVB in the past as well, for my first startup. They were solidly OK. This is still an area ripe for disruption IMO, old Brex filled the niche but for some reason we just can't do payments and banking correctly in the US. India has UPI for instance, and even foreigners can avail themselves of this facility.
  - tedivm 3y ago
    Solidly okay right up to their bank run.
- ensignavenger 3y ago
  As an SVB customer, how bad was it? Did you have any delays or other issues accessing your money? Did service or perks change a lot after the takeover?
  - yesimahuman 3y ago
    They let us get our cash out within a few days IIRC, and we switched to a different bank (was right after we were acquired so kind of a different situation). I would say there's still a large gap in the market SVB filled but I am not using them for my new company yet so can't compare before/after.
    - ensignavenger 3y ago
      Cool, it was my impression it was fairly smooth for customers. Glad it worked out well for you and congrats on the acquisition!
      - yesimahuman 3y ago
        Thank you! Glad this happened after the deal closed
tennisflyi 3y ago
Aren’t they all?

yesimahuman 3y ago

They lied (or did not clearly inform their sales people) about their AWS credit promotion a few years ago which really annoyed me when they were trying to sell us. Went back to the safe embrace of SVB but I guess that didn't really play out well. As a startup I desperately want to see more credit card companies willing to offer cards to founders without ridiculous personal guarantees, so I hope they figure it out.

mise_en_place 3y ago
I have used SVB in the past as well, for my first startup. They were solidly OK. This is still an area ripe for disruption IMO, old Brex filled the niche but for some reason we just can't do payments and banking correctly in the US. India has UPI for instance, and even foreigners can avail themselves of this facility.
- tedivm 3y ago
  Solidly okay right up to their bank run.
ensignavenger 3y ago
As an SVB customer, how bad was it? Did you have any delays or other issues accessing your money? Did service or perks change a lot after the takeover?
- yesimahuman 3y ago
  They let us get our cash out within a few days IIRC, and we switched to a different bank (was right after we were acquired so kind of a different situation). I would say there's still a large gap in the market SVB filled but I am not using them for my new company yet so can't compare before/after.
  - ensignavenger 3y ago
    Cool, it was my impression it was fairly smooth for customers. Glad it worked out well for you and congrats on the acquisition!
    - yesimahuman 3y ago
      Thank you! Glad this happened after the deal closed

tennisflyi 3y ago

Aren’t they all?