Flex, a US based fintech offering AI driven financial management tools for mid sized businesses, has raised 60 million dollars in Series B equity funding. The round was led by Canadian venture capital firm Portage, with participation from Crosslink Capital, Companyon Ventures, Titanium Ventures, Wellington, Restive, Spice Expedition, Florida Funders, FirstLook Partners, MS&AD Ventures and others.
Founded in 2022 by CEO Zaid Rahman, Flex targets companies that lack dedicated finance teams. Its platform uses AI agents to automate and simplify operations across business finance, payments, treasury optimisation and private credit workflows. The company says its technology helps firms reduce manual work, improve visibility and manage risk more effectively.
Earlier in 2024, Flex launched a bill payment product and surpassed one billion dollars in transaction volume. The firm has also expanded through acquisition, purchasing Maza, a finance app for the Spanish speaking diaspora in the United States, for a reported 40 million dollars.
Company plans to scale AI infrastructure
Flex says the new funding will be used to strengthen its AI agent infrastructure and broaden its product portfolio. Part of that expansion includes developing personal finance capabilities, signalling a move beyond business tools into consumer oriented offerings.
The latest investment brings Flex’s total equity funding to 105 million dollars. Previous rounds include 25 million dollars raised earlier this year, announced alongside a 200 million dollar credit facility from Victory Park Capital, and a 20 million dollar Series A in 2023.
The Series B round underscores growing investor interest in AI powered financial automation, particularly as businesses seek tools to streamline workflows and reduce costs. For fintechs operating in the AI and embedded finance sectors, Flex’s momentum highlights continued demand for platforms that merge software, payments and credit into unified systems.