Henrique Dubugras Brex co-CEO joins Closing Bell

Henrique Dubugras Brex co-CEO joins Closing Bell- Check out in detail

A fintech CEO is trying to raise more than $1 billion to fund bridge loans for startups impacted by the Silicon Valley Bank collapse

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Brex CEO Henrique Dubugras is fundraising more than $1 billion in loans for startups affected by the SVB collapse.

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Dubugras aims to give out loans as soon as next week so companies can make payroll.

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[{"selector":"#anim-1bbcfde5-5686-40a5-954d-96c2e9f8eaef [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.249999886225726%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Henrique Dubugras, CEO of the fintech company Brex, is working to pull together more than $1 billion in funds to provide bridge loans for startups affected by the Silicon Valley Bank collapse. Arrow

The spokesperson told Insider the funds are intended to help startups make payroll next week and stay afloat while their money is tied up.

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Brex has not disclosed the terms of the loans, or how much money it has raised so far, TechCrunch reported.

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But Dubugras told the outlet he hopes any customers who take on loans will remain with Brex after the dust settles.

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