Brex, a Silicon Valley-based card and financial product company that serves businesses, is rolling out a new function whereby e-commerce merchants will be able to get paid immediately.

Why should we care?
Brex CEO Henrique Dubugras said the new offering will address pain points for e-commerce merchants who often face long delays getting paid. “Companies that sell on big platforms like Amazon or Shopify can experience weeks or months delay between winning a sale and seeing the cash hit their bank account,” he said in a statement. For a 1.5% fee, Brex Cash customers who are U.S.-based sellers on Amazon can immediately access their sales revenue. In addition, the company also rolled out a series of rewards specific to e-commerce merchants’ purchase patterns, including digital ads. Brex, a 3-year-old company valued at more than $2.6 billion, is trying to carve out a space for itself among merchants that may be facing challenges due to the current economic crisis. The company is on a trajectory to broaden its client base beyond startups to small- to medium-sized businesses.