# BILL vs. Brex

> BILL and Brex approached the finance department from opposite directions, then expanded until their product maps overlapped. BILL used its 2021 Divvy acquisition to add corporate cards, budgets and expense controls to its accounts-payable and receivable base. Brex layered bill pay, vendor workflows, accounting automation, travel and banking onto its original corporate card. This head-to-head explains where the platforms now meet, where their inherited strengths still differ, and how Capital One's 2026 acquisition of Brex changes the competitive context without erasing the practical buying decision for finance teams.

## Achievements

- BILL served 493,800 businesses and processed $89 billion in total payment volume in the quarter ended March 31, 2026.
- BILL's fiscal 2025 platform volume totaled $329.8 billion across AP/AR, Divvy Card, embedded and other solutions.
- Brex said in February 2025 that it served more than 30,000 companies, including more than 150 public companies and global enterprises.
- Brex reported $4 billion in annualized bill-pay volume in its 2024 product account, illustrating its expansion beyond cards.
- BILL's Divvy acquisition joined AP, AR, card spend and expense management in one portfolio.

## Latest updates

- **2026-05** — BILL reported $406.6 million in quarterly revenue, $89 billion in total payment volume and 493,800 businesses using its solutions for the quarter ended March 31, 2026.
- **2026-04** — Capital One completed its acquisition of Brex on April 7, 2026; its second-quarter materials recorded approximately $4.5 billion in purchase consideration.
- **2026-04** — BILL announced a travel offering designed to bring another category of employee spend into its platform.
- **2025-08** — BILL reported fiscal 2025 revenue of $1.46 billion and total payment volume of $329.8 billion.

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Last updated: 2026-08-21