Flex has raised $225 million in debt and equity financing to enhance its platform designed to streamline financial management for business owners, integrating both personal and business transactions.
Announcing the funding in a LinkedIn post on Wednesday (March 5), the company emphasized its mission to eliminate the complexities of reconciling personal and business finances. “We bid farewell to the days owners had to reconcile personal and business income, spend and accounting,” the post stated. “Gone are the days of one-size-fits-all underwriting and manual invoice processing.”
Flex provides a comprehensive suite of financial tools, including business banking, expense management, and a credit card. The platform also features accounts payable (AP) automation, enabling bill payments, global transactions, and vendor payments via card, according to the company’s website.
Looking ahead, Flex intends to expand its capabilities to include accounts receivable (AR) automation, incorporating invoicing, reconciliation, and revenue collection features, per the website. Its existing offerings already include flexible credit limits, transparent pricing, and artificial intelligence (AI)-driven financial solutions.
With more than $1 billion in annualized payment volume under management, Flex continues to grow its influence in the financial technology space, the company stated in its LinkedIn announcement.
The funding round was spearheaded by Titanium Ventures and Victory Park Capital Advisors. Titanium Ventures, in its own LinkedIn post, praised Flex’s role in transforming financial services for small and medium-sized businesses (SMBs). “Flex’s vision to consolidate disparate financial services into a seamless super-app addresses a critical pain point, empowering SMBs to optimize cash flow and focus on growth,” the firm said.
Victory Park Capital, which provided a $200 million credit facility as part of the financing, expressed confidence in Flex’s potential to accelerate its payments infrastructure and software expansion. “We believe in Flex’s mission to provide efficient, streamlined tools to help owners more easily manage their finances and ultimately expand their business,” said Kinan Hayani, Partner at Victory Park Capital, in a LinkedIn post.
Flex’s all-in-one finance platform offers a single point of access for business financial operations, integrating essential back-office functions into a centralized system. CEO Zaid Rahman, speaking to PYMNTS in September 2023, highlighted the platform’s ability to simplify business financial management. “When you combine all of these things, we become a ‘single place’ for your business wallet,” Rahman said.
With this latest investment, Flex is poised to further develop its suite of financial tools, reinforcing its position as a transformative force in the SMB finance sector.
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