Watching Silicon Valley Bank melt down from the front row with Brex CEO Henrique Dubugras

Apr 4, 2023 · 1h 02m

Brex CEO Henrique Dubugras found himself playing an important role during the Silicon Valley Bank collapse. Brex is what you might call a neobank — not a traditional bank but rather a financial services provider that helps companies manage how they spend money, corporate cards, travel expenses and the rest. In the middle of the SVB collapse, Brex was more than just a spending management company. It was also a safe place to park money. Brex saw billions of deposits in a very short period of time, giving Dubugras a bird's-eye view of what was happening — and what was happening was not great for the banking system, especially in Silicon Valley. (Our own Liz Lopatto has been covering this in depth.) I wanted to hear Dubugras' perspective on SVB both as a fintech CEO and a founder himself, whether he thought the crisis was rational or just a panic caused by group texts and easy-to-use mobile banking interfaces, what he thinks will happen to the startup ecosystem next, and how much of an opportunity all this was for Brex. Dubugras is a young CEO. He just turned 27. He really surprised me with his depth here, and he will probably surprise some of you as well. Okay, Henrique Dubugras, CEO…

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