What fintech company did Capital One announce plans to acquire for $5.15 billion in January 2026?

In January 2026, Capital One announced its plans to acquire the fintech company Brex for $5.15 billion in a combination of cash and common stock. The acquisition is expected to close in mid-2026, pending regulatory approvals. This move is a significant step for Capital One, aiming to bolster its position in the business payments marketplace and integrate modern software solutions into its offerings.

Brex, founded in 2017, specializes in providing corporate cards, expense management software, and banking services, primarily to startups and high-growth companies, though it has expanded to larger enterprises. The company built a vertically integrated platform that combines these financial tools, offering a seamless experience for businesses to manage their spending. Capital One's CEO, Richard Fairbank, highlighted that acquiring Brex accelerates the bank's journey to be a payments company at the forefront of the technology revolution.

This acquisition is notable for several reasons. It represents one of the largest fintech acquisitions by a bank in history and reflects a broader trend of consolidation within the fintech industry. While the $5.15 billion price tag is a significant sum, it also represents a substantial discount from Brex's peak valuation of $12.3 billion in 2021-2022, underscoring a market shift towards profitability and sustainable economics over rapid growth. For Capital One, the deal offers access to Brex's advanced AI-native software platform, its existing customer base of over 25,000 companies, and the potential to expand into new markets, including Europe, through Brex's recently acquired EU Payment Institution license. For Brex, joining Capital One provides stability, access to a larger balance sheet, and the resources to further scale its technology and reach a broader customer base.