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Capital One moves to strengthen fintech presence with Brex deal
Capital One’s planned Brex acquisition highlights accelerating bank fintech consolidation as lenders seek growth in corporate payments, expense software, and venture focused financial services.
Capital One has agreed to acquire fintech firm Brex in a $5.15 billion transaction, expanding its footprint in corporate payments and expense management. The deal combines Capital One’s banking scale with Brex’s fast growing startup customer base. Executives expect synergies across cards, lending, and software tools. Regulators will review competition implications as traditional banks deepen acquisitions of venture backed financial technology platforms worldwide industry consolidation.