Capstack Review

Driven provides asset-based lending and equipment financing solutions for businesses with significant physical assets — manufacturers, transportation companies, construction firms, agriculture operations, and other capital-intensive businesses that use equipment and real assets as collateral for financing. Asset-based lending structures credit facilities against receivables, inventory, and equipment, enabling companies to access working capital proportional to their asset base rather than limited by earnings multiples alone. Equipment financing covers new and used machinery, vehicles, technology, and other business equipment purchases with terms typically 3-7 years and fixed monthly payments. The underwriting process for asset-based loans evaluates collateral quality, business cash flows, and the borrower's ability to manage the collateral base. Revolving credit facilities against receivables and inventory provide working capital flexibility as business volumes fluctuate. For capital-intensive businesses that struggle to access unsecured financing due to thin margins or cyclical cash flows, asset-based structures provide financing capacity aligned with actual business assets rather than earnings alone. Driven serves businesses across traditional industries where physical assets create natural collateral for growth financing.

Brex Venture Debt provides growth capital to venture-backed startups as an extension of Brex's financial platform, offering term loans and credit facilities structured for the investment profile of VC-backed companies. Venture debt is typically used to extend runway between equity rounds, finance growth initiatives without dilution, or fund specific capital expenditures. Brex's lending is primarily available to companies already banking with Brex, leveraging the banking relationship data for underwriting. Loan structures include interest-only periods that reduce cash burn during growth phases, with principal repayment beginning after an agreed period. Equity warrant coverage — a percentage of the loan amount in warrants on company stock — is typical in venture debt structures and represents part of the lender's return. Brex's lending competes with established venture debt providers including Silicon Valley Bank's successors, Western Technology Investment, and Hercules Capital, differentiated by the banking relationship integration and potentially faster deployment to existing customers. For Series A and later-stage startups that want to supplement equity funding with non-dilutive capital using an existing banking partner, Brex Venture Debt provides a natural extension of the Brex relationship.

Jeeves is a global financial platform providing corporate cards and expense management for companies operating across international markets — particularly startups and scaleups with operations in Latin America, Europe, and North America simultaneously. The platform addresses the fragmentation of managing corporate spending across multiple countries, currencies, and banking relationships by providing a single corporate card program accessible across its covered markets. Jeeves corporate cards operate on Net-30 to Net-45 terms, providing effective working capital by extending the time between making purchases and settling the card balance. Credit limits are based on business revenue metrics rather than personal credit, enabling companies to access meaningful spending capacity. Multi-currency capability reduces FX conversion costs for companies with international spending. Expense management features include real-time transaction visibility, receipt capture, approval workflows, and accounting integrations. Jeeves's underwriting model evaluates business revenue and banking activity to set credit limits without personal guarantees. The platform is particularly valuable for LatAm-headquartered companies and companies with significant operational presence in markets where US-centric corporate card programs provide limited coverage. FX conversion rates and fees are competitive compared to traditional corporate card alternatives in international markets.