While most 23 year-olds are just wrapping up college or starting their careers, Henrique Dubugras built the multi-billion dollar startup Brex.&
While most 23 year-olds are just wrapping up college or starting their careers, Henrique Dubugras built the multi-billion dollar startup Brex.
Brex is the first credit card specifically designed for startups, and it was created by Henrique and his business partner, Pedro Franceschi, in 2017.
In 2019, the company is valued at $2.6 billion.
Read on to discover 10 inspiring facts about Henrique Dubugras, his entrepreneurial journey and Brex!
1. Henrique believes every new business needs a mentor.
Since launching Brex, Henrique has been vocal about the importance of mentors when building a startup.
“Mentorship is super important — it’s the mentors that Pedro and I had both in Brazil and here in Silicon Valley that have helped guide us through some of the toughest decisions around hiring, product and fundraising,” said Henrique and Pedro in an interview with Y Combinator.
Henrique has mentioned Jorge Paulo Lemann, an investor from Brazil, as an important figure that guided him and Pedro as they launched their tech careers.
2. He began coding at 12 years old.
While many may already think of Henrique as a young entrepreneur, he actually began his career when he was only 12 years old.
Motivated by his parents, who wouldn’t pay for a game he wanted to play, Henrique began coding in order to find out how to get the video game for free.
This led him to create his own video game company at 14 years old.
He had to abandon the project though after receiving patent violations, according to The New York Times.
3. This wasn’t his first successful business.
Before Brex, Henrique and Pedro created Pagar.me.
Their first company, which they founded in 2013, also dealt with finances, providing consumers with a new way to pay for shopping online.
Pagar.me had processed $1.5 billion in sales before Henrique sold it in 2016.
4. Henrique always finds time for lunch.
Although startups and running companies can be very time consuming, Henrique says he will always set time aside to enjoy a meal.
“I am Brazilian so I appreciate a long lunch,” said Henrique in an article by Fortune.
“Even during the busiest times I still find the opportunity to sit down and have a proper lunch to clear my mind — not just a sandwich or some salad scarfed down like many Americans seem to love.”
5. He has been recognized by Forbes.
Although his company seems to have just started, Forbes has already recognized him as one of the most successful unicorn entrepreneurs around the world.
This year, Henrique and Pedro were listed on Forbes’s 30 under 30 list for finance.
6. Henrique won first place in a hackathon.
Although Henrique seems to have everything in order now, he dealt with the same dating problems that everyone encounters when they’re a teenager.
This lead him to develop a matchmaking program called AskMeOut at the age of 16, which alleviated the pressures of dating.
“What if I ask a girl from my class out and she says no? It will be awkward still to see her every day after that,” said Henrqiue in an interview with the BBC in 2015.
He, along with the two other hackers, created the project during a hackathon in 2012 and won first place.
All together, his team was awarded $50,000.
7. Henrique dropped out of Stanford after eight months.
Inspired by the television show, “Chuck,” Henrique wanted to become a coder at Stanford University.
After being accepted, he moved to Palo Alto to pursue his higher education, but quickly dropped out eight months later after receiving funding from the startup investor, Y Combinator, for one of his ideas.
8. For Henrique, it’s all about quality.
Even though Henrique’s company seemed to take off fast, he believes that it’s important to take your time when developing a startup.
“One thing I believe in wholeheartedly is doing things the right way, not the fast way,” said Henrique in an interview with NASDAQ.
“Silicon Valley has this tendency of building things as fast as you can, but, at Brex, we’re building for the long term. Instead of rushing to market, we took a full year to build our tech the right way and the systems we’ve put in place will last for many years to come.”
9. Brex came out of a VR startup idea.
After selling Pagar.me, Henrique wanted to move away from the financial world.
That’s when he decided to explore virtual reality.
“We went to school and then a little bit and school we’re like OK we want to do something different. VR seems like the bleeding edge of technology, let’s do a VR startup,” said Henrique in an interview with IVP.
He quickly realized how little he knew about the topic though and how passionate he was for tech investing.
That’s when Henrique and Pedro decided to create Brex.
10. Henrique grew up in Brazil.
Henrique was raised in San Paolo, Brazil and moved to California after being accepted to Stanford University.
Since immigrating, Henrique has settled in San Francisco and continues to oversee Brex with Pedro.
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This article is from Inc.com