Brex has closed a $425 million Series D funding round led by Tiger Global. The funding brings Brex's valuation to over $7.4 billion according to a statement by the company.

Additional investors include new backers TCV, GIC, Baillie Gifford, Madrone Capital Partners, Durable Capital Partners LP, Valiant Capital Management, and Base10. All existing major investors participated in the funding round including Y Combinator Continuity, Ribbit Capital, DST Global, Greenoaks Capital, Lone Pine Capital and IVP.