The fortunes of Silicon Valley startups rose and fell together like never before in recent years. Partly that was due to the indiscriminate tidal wave of money that washed through venture capital, but it’s also because many business-to-business software startups are closely connected as each other’s customers.
Brex Inc., a $12.3 billion San Francisco-based firm, epitomizes that trend as one of several fintechs whose customer base is focused on young companies and technology firms. So, the fact it is seeing some early green shoots of recovery among its clients could be good news not only for Brex but for many companies and investors in this world.
