Overview
- Portage led the Series B, which brings Flex’s total equity raised to $105 million and reportedly values the fintech at about $500 million.
- Flex targets profitable mid‑sized “jumbo shrimp” businesses generating roughly $2 million to $100 million a year, bundling private credit, business finance, personal finance, and payments on one platform.
- The company says payments volume tripled to $3 billion over the past 12 months and revenue quadrupled, driven by adoption of its business credit products.
- Flex introduced Flex Elite, an invite‑only consumer card positioned against American Express Centurion for high‑net‑worth business owners.
- Addressing skepticism about AI deployment highlighted by an MIT study, Flex says financial experts review AI outputs, and it will use new funding to speed product development and expand its ~80‑person team.