Weav co-founders Nadav Lidor (from left), Ambika Acharya and Avikam Agur. (Weav Photo Vic Bess)
Weav is an Israeli startup that offers a universal API for commerce platforms to enable new fintech products. Brex is an American fintech behemoth. Brex just acquired Weav for $50 million.
While this may not have been a sale in the hundreds of millions or a billion dollar plus IPO, this is still a big exit for a Startup Nation company.
Founded in 2020 by Avikam Agur, Nadav Lidor, and Ambika Acharya, Weav enables applications to access their business customers’ real-time, standardized commerce data using a single API. They partner with innovative technology companies to build the future of financial and commerce products together.
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Using Weav’s API, companies prompt their business customers to securely connect their accounts with selling platforms, online marketplaces, subscription management systems, and payment gateways. Once authenticated, Weav says that it aggregates and standardizes sales, inventory, and other account data across platforms and develops insights to power new products across a range of use cases like Lending & underwriting, Business management tools and Financial planning & analysis.
Weav most recently brought in $4.3 million in funding.
Based in San Francisco, Brex offers credit cards, business cash accounts, spend management, and bill pay software together in a single dashboard. Brex states that they are building a financial OS to integrate the services and software that businesses need to realize their potential. “While they build the future, we’ll be building everything businesses will need to launch confidently, scale fast, and realize their full potential.”
“We’re reimagining financial systems so every growing company can realize their full potential.”
Brex reportedly has a $7.4 billion valuation.
Brex co-founder Henrique Dubugras told Tech Crunch, “We were so impressed with [CEO] Nadav [Lidor] and his team, how fast they were building and how good the technology is, that we wanted to expand to a more strategic partnership. Then, we started talking about an acquisition.”
