Capital One’s $5.15 billion acquisition of Brex is almost 60% below the company’s peak $12B valuation 3 years ago, it’s still the 5th-largest acquisition of a 21st-century fintech company (i.e., founded since 1999) and the third-largest in the United States. Only Afterpay (Block, $29B), South Korea’s Upbit (Naver, $10.3B), Credit Karma (Intuit, $7.1 billion) and Canada’s Nuvei (Advent, $6.3B) were larger. Refer to the following table for a list of all 41 fintech unicorn acquisitions (valued at $1 billion or more).
Media reports say that Brex has 35,000 business customers. If that’s even close to accurate, Capital One is paying $150,000 per account. But they are not simply buying a portfolio, Brex is a modern spend-management powerhouse and presumably offers billions in potential profits down the road. Investor enthusiasm seemed tepid as Capital One’s stock fell $7.5B (to around $150 billioin) after the announcement, but that may have been more about Capital One’s earnings announced at the same time as the Brex deal.
Table: Fintech Acquisitions
Companies founded since 1999
| Company | Value | Value Date | Founded | Country | Category | Sub-Category |
| Afterpay | $29 bil | Exit Aug 2021 (Block) | 2014 | Australia | Fintech | Lending |
| Dunamu (Upbit) | $10 | Exit Nov 2025 (Naver) | 2012 | South Korea | Crypto | Exchange |
| Credit Karma | $7.1 | Exit (Intuit) | 2007 | USA | Fintech | Credit |
| Nuvei | $6.3 | Exit Mar 2024 (Advent) | 2003 | Canada | Fintech | Payments |
| Brex | $5.2 | Exit Jan 2026 (Capital One) | 2017 | USA | Fintech | Cards |
| Envestnet | $4.5 | Exit July 2024 (Bain) | 1999 | USA | Investech | Wealth Mgmt |
| Assurance | $3.5 | Exit | 2016 | USA | Insurtech | |
| Verafin | $2.8 | Exit Nov 2020 (NASDAQ) | 2003 | Canada | Fintech | Security |
| Paidy | $2.7 | Exit Sep 2021 (PayPal) | 2008 | Japan | Fintech | Payments |
| Recorded Future | $2.7 | Exit Oct 2024 (MasterCard) | 2009 | USA | Security | |
| Duck Creek Software | $2.6 | Exit Mar 2023 (Vista Equity) | 2000 | USA | Fintech | Insurance |
| Next Insurance | $2.6 | Exit Mar ’25 (Munich Re) | 2016 | USA | Fintech | Insurance |
| Itiviti | $2.5 | Exit April 2021 | 2016 | Sweden | Fintech | Investing |
| Melio Payments | $2.5 | Exit June 2025 (Xero) | 2018 | USA | Fintech | Payments |
| HealthEdge | $2.4 | Exit Apr 2025 (Blackstone) | 2004 | USA | Insurtech | Back Office |
| Divvy | $2.3 | Exit May 2021 (Bill.com) | 2016 | USA | Fintech | Payments/SMB |
| Lifelock | $2.3 | Exit Feb 2017 (Symantic) | 2005 | USA | Fintech | Credit |
| AvidXchange | $2.2 | Exit May 2025 (TPG) | 2000 | USA | Fintech | Payments |
| iZettle | $2.2 | Exit May 2018 (PayPal) | 2010 | Sweden | Fintech | Payments |
| Tink | $2.2 | Exit June 2021 (Visa) | 2012 | Sweden | Fintech | Banking |
| GreenSky | $1.8 | Exit Sep 2021 (Goldman Sachs) | 2006 | USA | Fintech | Lending |
| Zuora | $1.7 | Exit Oct 2024 (Silver Lake) | 2007 | USA | Fintech | Payments |
| Mercury Payments | $1.7 | Exit May 2014 (Vantiv) | 2001 | USA | Fintech | Payments |
| BillTrust | $1.6 | Exit Mar 2023 (EQT) | 2001 | USA | Payments | |
| GoHealth | $1.5 | Exit 2019 (Centerbridge) | 2001 | USA | Healthtech | Insurance |
| NinjaTrader | $1.5 | Exit Mar 2025 (Kraken) | 2003 | USA | Investing | Futures |
| BioCatch | $1.3 | Exit April 2024 (Permira) | 2011 | Israel | Fintech | Security |
| Paya | $1.3 | Exit Jan 2022 (Nuvei) | 2006 | USA | Payments | |
| Hidden Road | $1.3 | Exit Apr 2025 (Ripple) | 2019 | UK | Lending | Institutional |
| Galileo | $1.2 | Exit Apr 2020 (SoFi) | 2000 | USA | Payments | |
| SimpleNexus | $1.2 | Exit Nov 2021 (nCino) | 2011 | USA | Lendtech | Mortgage |
| Bridge | $1.1 | Exit Oct 2024 (Stripe) | 2022 | USA | Crypto | Stablecoin |
| Cayan | $1.1 | Exit Dec 2017 (TSYS) | 1998 | USA | Payments | |
| Technysis | $1.1 | Exit Feb 2022 (SoFi) | 1999 | USA | Banktech | |
| ChromeRiver (Emburse) | $1.0 | Merger Mar 2019 (Certify) | 2007 | USA | Payments | |
| Currency Cloud | $1.0 | Exit July 2020 (Visa) | 2012 | UK | Payments | |
| Metronome | $1.0 | Exit Dec 2025 proposed (Stripe) | 2019 | USA | Payments | Billing |
| Nutmeg | $1.0 | Exit June 2021 (JPMorgan) | 2011 | UK | Investech | |
| Personal Capital | $1.0 | Exit June 2025 | 2009 | USA | Investech | |
| Pismo | $1.0 | Exit Jan 2024 (Visa) | 2016 | UK | Banktech | |
| Finicity | $1.0 | Exit June 2020 (Mastercard) | 1999 | USA | Fintech | Infrastructure |
Dec traffic
Brex 830,000
Capital One 142 million
Source: Similarweb, 23 Jan 2026
