Flex’s New Funding Boosts Its Reach to Big Small Businesses

Flex, a startup that blends AI and banking tools for medium‑sized companies, secured $70 million in fresh capital from Halo Fund. This investment pushes the company’s worth to about $1. 2 billion, more than twice what it was six months earlier. The firm has already raised $180 million in equity and $300 million in loans, aiming at “jumbo shrimps” – businesses that earn between tens and hundreds of millions each year but are often ignored by mainstream fintechs. CEO Zaid Rahman points out that in the United States roughly 350 000 to 400 000 owners run businesses that control 40 % of the country’s payroll, while worldwide there are around three million such owners managing half of global commerce.

Unlike other AI ventures that focus on single tasks like bookkeeping, Flex offers a full suite: private credit, business and personal finance, payments, and AI agents that provide weekly financial insights. The company reports a few thousand customers and is growing at about 400 % annually, reaching a nine‑figure annual revenue run rate. With the new money, Flex plans to expand worldwide, boost marketing, and more than double its staff to over 200 by year‑end. Existing backers such as Portage Ventures and Crosslink Capital joined the latest round. On the same day, Flex introduced Flex Global, a service that uses stablecoins to transfer money in over 100 countries within minutes and lets business owners hold 32 currencies.

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