Capital One spends $5.15 billion to automate corporate spend
Businesses using Capital One's new ecosystem will operate with real-time payments and reduced manual processes. The bank acquired Brex, an AI-native financial platform that integrates corporate cards, expense management software, and banking services. Capital One paid $2.56 billion in cash and 10.7 million shares of common stock for the acquisition, which totaled $5.15 billion. The integration of Brex's AI platform allows for the automation of workflows and expense reviews.
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