Brex buys Weav for $50M

Fintech Brex first partnered with Weav, a developer of a universal API for commerce platforms, last summer.

In March, Brex launched Instant Payouts for Shopify sellers using the startup’s technology.

The results were impressive enough that by April, Brex co-founders Henrique Dubugras and Pedro Franceschi participated in Weav’s $4.3 million seed round as strategic angel investors.

Over the past few months, the pair determined that Weav’s technology — and team — was too good to share. So today, the fintech is announcing that it is acquiring one-year-old Weav for $50 million in its first significant acquisition, TechCrunch has learned exclusively.

Read more: TechCrunch