Overview
- Portage led the Series B round, bringing Flex’s total equity raised to $105 million and a reported valuation of about $500 million, according to a person familiar with the deal.
- Flex reports quadrupled revenue and a tripling of total payments volume to $3 billion over the past 12 months.
- The company is launching Flex Elite, an invite-only consumer card positioned against American Express Centurion for high-net-worth business owners.
- Flex bundles private credit, payments, and both business and personal finance into one system powered by agentic AI, including an “AI CFO” and underwriting agents.
- Proceeds will accelerate product development and hiring beyond its roughly 80-person team, with the company emphasizing human checks on AI outputs given industry skepticism about real-world deployment.