News Summary

Flex, a fintech company that offers personal finance software and payments infrastructure for business owners, has raised $25 million in equity funding at a valuation of just under $250 million. Additionally, the company secured a $200 million credit facility. Founded by CEO Zaid Rahman in 2022, Flex evolved from a construction platform into a fintech entity focused on mid-market business owners. Unlike other fintech giants like Ramp and Brex, Flex targets business owners who are also CEOs of their companies, providing an all-in-one finance platform to manage both business and personal finances. The company serves thousands of businesses, including Shoreside Support, Freebird, and MOD Partners. Flex’s products include a business credit card with AI underwriting, AI invoice processing, expense management, and a subscription-based personal finance platform. The company has surpassed $1 billion in annualized total payment volume and is growing at 25% month over month. The recent funding will be used to expand their AI and B2B payments team in New York and San Francisco. Titanium Ventures led the equity round, with participation from Companyon Ventures, Florida Funders, MS&AD Ventures, AAF Management, and First Look Partners, while Victory Park Capital provided the credit facility.