Flex, a fintech that helps business owners automate their back offices, has raised $25 million in an equity round led by Titanium Ventures.
Companyon Ventures, Florida Funders, MS&AD Ventures, AAF Management and First Look Partners joined the round. Flex has also secured a $200 million credit facility from Victory Park Capital.
Founded in 2022, Flex bundles various aspects of the back office into one finance super app to help firms seamlessly control finances. The company offers a 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.
In addition, it provides AP automation, cashflow analytics, bill pay and mobile apps and, with the new funding in place, plans to add a consumer arm, which will allow business owners to manage their personal finances.
Zaid Rahman, CEO, Flex, says: “Business owners tend to co-mingle their personal and business expenses, deposits and payments, leading to accounting reconciliation issues and cashflow gaps.
“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.”