Flex Raises $225 Million in Equity and Debt Funding to Build All-in-One Business and Personal Financial Management Platform for Business Owners

Company Surpasses $1 Billion in Total Payment Volume in 18 Months

Flex Raises $225 Million in Equity and Debt Funding to Build All-in-One Business and Personal Financial Management Platform for Business Owners

Flex
Kristen Grossi, talkTECH
Kristen@talktechcomm.com

Victory Park Capital
Jordan Niezelski, Edelman Smithfield
jordan.niezelski@edelmansmithfield.com

Flex, the fintech company that empowers business owners to automate their back offices and grow, today announced it has raised $225 million in equity and debt funding to accelerate the buildout of its payments infrastructure and personal finance software for business owners. The capital raise includes a $25 million equity round led by Titanium Ventures, with participation from Companyon Ventures, Florida Funders, MS&AD Ventures, AAF Management and First Look Partners, and a $200 million credit facility from Victory Park Capital. Yash Patel, General Partner at Titanium Ventures, will join Flex’s Board of Directors.

“Business owners tend to co-mingle their personal and business expenses, deposits and payments, leading to accounting reconciliation issues and cashflow gaps,” said Zaid Rahman, Founder & CEO of Flex. “Our growth validates the demand from business owners for an all-in-one ecosystem that simplifies their finances. With Flex, they can manage their entire financial lives through one premium platform, from the moment they generate business revenue to the moment they spend their earnings personally.”

Many businesses do not have sufficient time, resources, or personnel to efficiently handle back-office functions. Meanwhile, targeted solutions are often fragmented and piecemeal. Flex provides a financial ecosystem that bundles payment automation, expense management, net 60 credit cards and banking.

“We’re particularly excited about how much time our customers – especially those without in-house finance teams – have been saving on reconciling invoices with Flex AP Automation and managing business or personal expenses through Flex Expense Management,” added Rahman. “Our product simplifies the input required from business owners and reduces the burden of managing payment scheduling, which payment methods to disburse from, and which accounts to collect money into.”

The capital raise will support the acceleration of Flex’s payments ecosystem, particularly its AI-powered AP Automation, which today, alongside credit, debit, and B2B payments, is processing over $1 billion in annual total payment volume. The funding will also be used to build out Flex’s consumer arm, which will allow business owners to manage their personal finances with the same power, control and seamless user experience as they do for their businesses.

“We were thoroughly impressed with the customer love for Flex in our diligence," said Patel. "Flex has found a segment of the large B2B market overlooked by both innovators in B2B fintech and large incumbent banks: super premium business owners.”

“Flex’s ecosystem of financial products, which provide flexible and cost-effective working capital, will help meet a clear need for business owners,” said Kinan Hayani, Partner at Victory Park Capital. “We believe in Flex’s mission to provide efficient, streamlined tools to help owners more easily manage their finances and ultimately expand their businesses.”

Over the past year, Flex has grown substantially, achieved key milestones and welcomed several seasoned executives to its leadership team, including: Chief Risk Officer, Vishal Saxena, who formerly held risk leadership positions at Citi, Capital One and Barclays; General Counsel & Chief Compliance Officer, David Toro, formerly of Parafin and Capital One; and Head of Product, Jared Thomas, previously with Carta.

*Flexbase Technologies, Inc. is a technology company and is not a bank. Banking services provided by Thread Bank, Member FDIC.

The Flex Commercial Credit Card is issued by Patriot Bank, N.A., pursuant to licenses from Mastercard® International Incorporated. Mastercard is a registered trademark of Mastercard International. Flex provides the credit for the Flex Commercial Credit Card. The card is not available yet in the following states: CA, ND, SD, VT, and NV.

ABOUT FLEX

Founded in 2022, Flex (a Flexbase Technologies, Inc. brand) is the B2B fintech company redefining financial management for business owners by providing a financial ecosystem that empowers owners to expand their business and accelerate growth. Flex bundles every single aspect of the back office into one finance super app to seamlessly control finances. The company offers Flex Business Credit Card with 0% interest for 60 days on all purchases and built-in employee expense management and rewards, as well as Flex Banking with up to 2.99% yield on idle cash. The company also has launched several products like AP Automation, Cashflow Analytics, Bill Pay, Mobile Apps, and more. Flex aims to be the financial platform that all aspiring business owners use to build, manage and protect their finances. Visit www.flex.one.

ABOUT TITANIUM VENTURES

Titanium Ventures Accelerates the Extraordinary – the venture capital firm fuels the growth of standout disruptors. In its first twelve years, 104 investments have generated 44 liquidity events including Auth0, BigCommerce, Box, Cloopen, CrowdStrike, DocuSign, GitLab, Nasuni, OpenGov and Snap. To date, Titanium Ventures’ Revenue Acceleration Platform has driven >USD$660M in revenue for its portfolio companies, extending their reach across the U.S., Australia, Asia, and the UK. In 2022, the firm announced the close of its third fund, bringing Funds Under Management to USD$1B. To see Titanium Ventures’ full portfolio and learn more, visit www.ti.vc.

ABOUT VICTORY PARK CAPITAL

Victory Park Capital Advisors, LLC (“VPC” or the “Firm”) is a global alternative asset manager that specializes in private asset-backed credit. In addition, the Firm offers comprehensive structured financing and capital markets solutions through its affiliate platform, Triumph Capital Markets. The Firm was founded in 2007 and is headquartered in Chicago. In 2024, VPC became a majority-owned affiliate of Janus Henderson Group. The Firm leverages the broader resources of Janus Henderson’s 2,000+ employees across offices in 24 cities worldwide. VPC is a Registered Investment Advisor with the SEC. For more information, please visit www.victoryparkcapital.com.