Y Combinator-backed Brex acquires three startups including DLT-based software firm Neji

Startups • March 24, 2020, 12:06PM EDT
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Brex, the Y Combinator-backed fintech credit card company, has acquired three startups including distributed ledger technology (DLT)-based software firm Neji. 

Founded in 2017, Neji aims to ease the adoption of DLT across multiple cloud deployments via cybersecurity and network efficiency offerings. It raised $2.8 million in two seed rounds in Dec. 2017 and April 2018. 

According to a press statement, the company decided to acquire Neji due to its specialty in customer data protection. The acquisition will focus on ensuring the security of Brex Cash, Brex’s latest cash management product, as TechCrunch reported.

“Protecting customer data and assets is mission critical to us at Brex and so I am very excited to welcome Neji to the Trust team” said Shruti Gupta, Brex Director of Engineering, Trust, in the press statement.

Besides Neji, Brex also acquired video technology startup Compose Labs and internal knowledge database startup Landria to assist the company’s data engineering and infrastructure-building efforts.

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Yilun Cheng profile picture Yilun Cheng

Yilun joined The Block in November 2019. She has a policy background and extensive experience in reporting and writing. She has worked on stories ranging from business to politics.

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