Brex vs Carta: Founders, CEOs and History
Brex was founded in 2017 by Pedro Franceschi, Henrique Dubugras and is led by Pedro Franceschi. Carta was founded in 2012 by Henry Ward, Manu Kumar and is led by Henry Ward.
Company facts
Founders
Brex
Pedro Franceschi
Franceschi enrolled at Stanford in 2016 and left with Dubugras for Y Combinator's Winter 2017 batch, where the pair dropped a virtual reality idea three weeks in and started Brex.
Henrique Dubugras
Dubugras enrolled at Stanford in 2016 and left for Y Combinator in early 2017, co-founding Brex that January.
Carta
Henry Ward
Henry Ward is the co-founder and CEO of Carta. He has led the company since founding it as eShares in 2012, through its 2017 rebrand, a $7.4 billion Series G in 2021, and expansion into fund administration, private equity, private credit, and legal services.
Manu Kumar
Manu Kumar co-founded eShares (now Carta) with Henry Ward in 2012 after suggesting Ward build software to replace the paper stock certificates Kumar received as an angel investor.
CEOs and their tenures
Brex
- Pedro Franceschi2017–present
Co-Founder and Chief Executive Officer
Co-CEO from January 2017, running product, engineering and internal operations, and sole CEO since June 12, 2024.
Source - Henrique Dubugras2017–2024
Co-Founder; Co-CEO 2017 to 2024, then Chairman
External co-CEO responsible for fundraising, banking partners, regulators and selling to the largest customers. Raised the rounds that took Brex to a $12.3 billion valuation in 2021, and became chairman of the board when the co-CEO model ended in June 2024.
Source - Ben Gammell2018–present
Chief Financial Officer and President
Joined in early 2018 as VP of operations and served as chief of staff to the CEO before becoming CFO. Also oversees legal, business development, systems and data, and was named as part of the leadership team staying on under Capital One.
Source
Carta
- Henry Ward2012–present
Chief Executive Officer & Co-Founder
Co-founded eShares in 2012 and has served as CEO since; led the 2017 rebrand, the 2021 Series G at $7.4B, the 2024 exit from secondary trading, and the 2025-2026 expansion into private credit and legal services.
Source - Manu Kumar2012–present
Co-Founder
Co-founded eShares, suggested the original idea of electronic stock certificates, and backed the company through K9 Ventures.
Source
Timeline: Brex and Carta side by side
2012Carta
eShares founded by Henry Ward and Manu Kumar
Started to replace paper stock certificates with electronic shares.
2013Carta
$1.8M seed round
K9 Ventures, Draper, and Scott Banister backed the company.
2017Brex
Founded during Y Combinator
Henrique Dubugras and Pedro Franceschi founded Brex on January 3, 2017, after dropping a virtual reality idea three weeks into Y Combinator's Winter 2017 batch. Ribbit Capital led a $7 million first round.
2017Carta
Renamed Carta
eShares rebranded as Carta in November 2017.
2018Brex
Launch, $50M Series B and $1.1B valuation
Brex raised a $50 million Series B in June 2018 from Y Combinator Continuity, Ribbit Capital, Peter Thiel and Max Levchin, passed 1,000 customers by August and reached a $1.1 billion valuation with a $125 million Series C in October.
2019Brex
$2.6B valuation led by Kleiner Perkins
A $100 million Series C-2 led by Kleiner Perkins in June 2019 valued Brex at $2.6 billion. Brex also launched Brex Cash, now the Brex Business Account, that year.
2019Carta
$300M Series E at $1.7B valuation
Led by Andreessen Horowitz.
2020Brex
Three acqui-hires and a $150M extension
Brex bought Neji, Compose Labs and Landria in March 2020, adding 12 people, and raised a $150 million Series C extension in May as a cushion against a long recession.
2021Brex
Bank charter bid, Weav deal and $12.3B valuation
Brex applied for a Utah industrial bank charter in February and withdrew it in August, raised $425 million at $7.4 billion in April, bought Weav for $50 million in August, went headquarterless, and agreed a $300 million round at $12.3 billion in October.
2021Carta
$500M Series G at $7.4B valuation
Led by Silver Lake and Lightspeed in August 2021.
2022Brex
Empower launch, Pry deal and small business exit
Brex launched Brex Empower in April with DoorDash as a customer, bought Pry Financials for $90 million, left the small business market in June and laid off 136 people in October.
2022Carta
Acquires Vauban and Capdesk
Two London-based platforms expanded Carta in Europe.
2023Brex
Silicon Valley Bank deposits
Brex took in billions of dollars of deposits from Silicon Valley Bank customers on March 9, 2023, the day before the bank collapsed.
2024Brex
20% layoff and end of the co-CEO model
Brex cut 282 jobs on January 23, 2024, ranked fourth on CNBC's Disruptor 50 list in May, and on June 12 made Franceschi sole CEO, with Dubugras becoming chairman.
2024Carta
Exits secondary trading
Shut down its secondary trading business after a January 2024 customer controversy.
2025Brex
Enterprise growth, EU licence and return to San Francisco
Brex said enterprise revenue grew 80% in 2024, won an EU payment institution licence in August 2025, leased about 100,000 square feet in San Francisco, and turned operating-cash-flow positive in October, according to Sacra.
2025Carta
Acquires Sirvatus and Accelex
Added private credit loan operations and AI document extraction in October 2025.
2026Brex
Acquired by Capital One for $5.15B
Capital One announced the cash-and-stock acquisition on January 22, 2026, and completed it on April 7. Pedro Franceschi stayed on as CEO.
2026Carta
Launches Carta Law; Pulley winds down
Acquired Avantia in May; rival Pulley announced in September it will close on December 8 and migrate customers to Carta.
Acquisitions
Brex
- Brex Inc. (acquired by Capital One)2026$5.2B
- Pry Financials2022$90M
- Weav2021$50M
- Neji, Compose Labs and Landria2020Undisclosed
Carta
- Avantia2026Undisclosed
- Sirvatus2025Undisclosed
- Accelex2025Undisclosed
- Vauban2022Undisclosed
- Capdesk2022Undisclosed
Questions about Brex vs Carta
Who is the CEO of Brex Inc. and Carta, Inc.?
Brex Inc. is led by Pedro Franceschi and Carta, Inc. is led by Henry Ward. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Brex Inc. founded vs Carta, Inc.?
Carta, Inc. was founded in 2012 — 5 years before Brex Inc., which was founded in 2017. Carta, Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Brex Inc..
How many employees does Brex Inc. have compared to Carta, Inc.?
Brex Inc. employs approximately 1,100 people, while Carta, Inc. employs approximately 1,900. Carta, Inc. has the larger workforce at 1,900 employees, compared to Brex Inc.'s 1,100. A higher headcount does not necessarily imply greater efficiency — it often reflects differences in business model (e.g., manufacturing vs. software).
Where are Brex Inc. and Carta, Inc. headquartered?
Both Brex Inc. and Carta, Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Brex Inc. and Carta, Inc.?
Brex Inc. was founded by Pedro Franceschi, Henrique Dubugras. Carta, Inc. was founded by Henry Ward, Manu Kumar.
Which company has a longer operating history — Brex Inc. or Carta, Inc.?
Carta, Inc. has been operating for approximately 14 years, making it the more established of the two companies. Brex Inc. has been in operation for around 9 years. A longer operating history often signals greater institutional resilience and brand recognition, though it can also mean slower adaptation to new market conditions.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the Brex vs Carta overview