Brex vs Deel: Founders, CEOs and History
Brex was founded in 2017 by Pedro Franceschi, Henrique Dubugras and is led by Pedro Franceschi. Deel was founded in 2019 by Alex Bouaziz, Shuo Wang and is led by Alex Bouaziz.
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.
Deel
Alex Bouaziz
Alex Bouaziz is Deel's co-founder and CEO. He started Deel in 2019 with Shuo Wang after experiencing first-hand how hard it was to hire and pay people across borders, took it through Y Combinator, and has led it from contractor payments to a full global HR and…
Shuo Wang
Shuo Wang is Deel's co-founder and Chief Revenue Officer. She leads Deel's go-to-market organization and has overseen its sales growth from early contractor-payment customers to more than 40,000 businesses worldwide.
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
Deel
- Alex Bouaziz2019–present
Co-Founder & Chief Executive Officer
Co-founded Deel in 2019 and has led it from a YC contractor-payments startup to $1.5B+ ARR and a $17.3B valuation.
Source - Shuo Wang2019–present
Co-Founder & Chief Revenue Officer
Built and leads Deel's sales and revenue organization.
Source - Philippe Bouaziz2019–present
Executive Chairman & Chief Strategy Officer
Founding CFO who moved to executive chairman and chief strategy officer in November 2025; named as a defendant in Rippling's lawsuit.
Source - Joe Kauffman2025–present
Chief Financial Officer
Former Intuit executive appointed CFO in November 2025 as Deel prepares for a potential IPO.
Source
Timeline: Brex and Deel side by side
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.
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.
2019Deel
Deel founded; joins Y Combinator W19
Alex Bouaziz and Shuo Wang launch Deel for compliant international contractor payments.
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.
2020Deel
Series A and B
$14M Series A led by Andreessen Horowitz (May) and $30M Series B led by Spark Capital (September) as remote hiring took off.
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.
2021Deel
$1.25B Series C, then $5.5B Series D
$156M Series C in April; $425M Series D led by Coatue in October.
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.
2022Deel
$12B valuation; Legalpad acquired; $295M ARR
Series D extension in May; ARR reached $295M by year-end.
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.
2023Deel
PayGroup completed; free Deel HR
Closed the PayGroup acquisition and launched a free global HRIS.
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.
2024Deel
Hofy and Zavvy; $800M ARR
Launched Deel IT after buying Hofy; reached $800M run rate in December.
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.
2025Deel
Rippling lawsuit; $1B ARR; $17.3B Series E
Rippling sued in March; Safeguard Global payroll deal in March; $1B ARR in June; $300M Series E in October; Joe Kauffman named CFO in November.
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.
2026Deel
DOJ probe reported; $1.5B ARR; Clarity acquired
WSJ reported a DOJ criminal probe in January; Deel passed $1.5B ARR in H1 and bought Clarity in August.
Acquisitions
Brex
- Brex Inc. (acquired by Capital One)2026$5.2B
- Pry Financials2022$90M
- Weav2021$50M
- Neji, Compose Labs and Landria2020Undisclosed
Deel
- Clarity2026Undisclosed
- Safeguard Global (enterprise payroll division)2025Undisclosed
- Hofy2024Undisclosed
- PayGroup2023Undisclosed
- Legalpad2022Undisclosed
- Zeitgold2021Undisclosed
Questions about Brex vs Deel
Who is the CEO of Brex Inc. and Deel, Inc.?
Brex Inc. is led by Pedro Franceschi and Deel, Inc. is led by Alex Bouaziz. Both serve as the top executive responsible for the company's strategy, operations, and financial performance.
When was Brex Inc. founded vs Deel, Inc.?
Brex Inc. was founded in 2017 — 2 years before Deel, Inc., which was founded in 2019. Brex Inc.'s longer operating history gives it a deeper track record but also potentially more institutional inertia compared to the younger Deel, Inc..
How many employees does Brex Inc. have compared to Deel, Inc.?
Brex Inc. employs approximately 1,100 people, while Deel, Inc. employs approximately 9,600. Deel, Inc. has the larger workforce at 9,600 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 Deel, Inc. headquartered?
Both Brex Inc. and Deel, Inc. are headquartered in United States, meaning they operate under the same primary regulatory and tax environment.
Who founded Brex Inc. and Deel, Inc.?
Brex Inc. was founded by Pedro Franceschi, Henrique Dubugras. Deel, Inc. was founded by Alex Bouaziz, Shuo Wang.
Which company has a longer operating history — Brex Inc. or Deel, Inc.?
Brex Inc. has been operating for approximately 9 years, making it the more established of the two companies. Deel, Inc. has been in operation for around 7 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 Deel overview