San Francisco-based fintech startup Brex announced Thursday, August 22, it will be joining the Magento Technology Partner program to provide customers with better credit experience. Under the said deal, Magento users can now access a broad range of Brex’s services with ease.
According to a report from BusinessWire, as part of the program, Magento customers can now avail rewards incentives and experience faster application process. Moreover, they can also enjoy all the benefits of Brex that were previously limited to its customers only, such as higher credit limits and four months of free use at Shippo.
“Online retail and e-commerce continue to evolve and to gain market share,” said Michael Tannenbaum, CFO at Brex.
“As these new businesses and delivery models emerge, legacy financial services products have not kept up. Brex seeks to partner with the most innovative and dynamic platforms — like Magento — that are serving this expanding marketplace, and offering products that are seamless, tech-forward, efficient and dynamic.”
Magento, an Adobe company, is a leading provider of commerce innovation dedicated for merchants who want to rise above any commerce-related challenge. It is regarded as the top 1 among the Internet Retailer Top 1000, the B2B 300, and the Top 500 Guides for Europe and Latin America.
“Brex has used the past few months to work with Magento seller data to better underwrite them, and we plan to enhance the integration to help speed up the application process even further by pre-populating data from the Magento platform into the Brex system,” said Tannenbaum.
Introduced in February 2019, the Brex eCommerce enables users to purchase inventory, advertising, and shipping services for business solutions. Today, it has grown into a more extensive platform with several distribution partnerships including MDS, Payoneer, and Plastiq.
“We’re pleased to welcome Brex as a new Magento Technology Partner. Their solution offers innovative financial and payments capabilities to our merchants,” expressed Ryan Murden, Head of Business Development at Magento.