Brex Names a New Product Chief Alongside $300 Million Funding Round

On the heels of a $300 million Series D-2 funding round, Brex has revealed that Karandeep Anand has come on board as its new Chief Product Officer.

The new funding round brings Brex’s fundraising total to $1.2 billion. The business-focused fintech startup says it will use this latest tranche of cash to expand its product portfolio, which is where Anand comes in.

Anand is a former Meta executive who spent the last six years building the company’s business products such as Business Messaging and Workplace. He also brings 15 years of experience from Microsoft, where he led product management strategy for the company’s Azure cloud and developer platform efforts.

In an interview with TechCrunch, Brex Co-CEO Henrique Dubugras called Anand a “unique hire” because he is both product and engineering-oriented as well as business and customer-oriented. He added that this combination would be beneficial as Brex aims to provide a “consumer-like experience” to its business customers.

“As we expand our product portfolio, we are incredibly lucky to have Karandeep join the team to lead this important initiative,” Dubugras added in a press release. “Karandeep understands our customers and knows how to build and scale business products with consumer-grade ease to meet the needs of fast-growing companies.”

Brex has already grown well beyond its beginnings as a credit card provider for startups and small businesses. This past April, the company launched Brex Premium, which provides a single dashboard to see and manage their credit cards, cash accounts and expenses. With this new funding, Brex is once again looking to grow its coverage area to create a comprehensive “financial operating system” for small businesses.

“Brex is a market disruptor and the opportunity to create economic opportunity for millions of people and businesses globally through innovation in financial products is incredibly exciting,” Anand said. “The opportunity ahead for Brex is expansive, and I’m grateful for the opportunity to create products that will help our customers grow their businesses.”