Brex Is Helping Startups Borrow More Than $1 Billion To Meet SVB Payroll Crunch

CEO Henrique Dubugras tells Forbes that loan applicants have more than $10 billion tied up with SVB — and thinks his fintech startup can benefit by helping.

As companies that kept their money with Silicon Valley Bank race to find payroll solutions for the upcoming week, Brex CEO Henrique Dubugras was spending the weekend working the phone to get into the lending business — at least temporarily — to try to help.