A $60 million Series B equity round has been completed by a financial technology (fontech) company, Flex, to scale its all-in-one business and personal finance platform for high-net-worth middle-market business owners.
The funding round was led by Portage, with participation from CrossLink Capital, Spice Expedition, Titanium Ventures, Wellington, Companyon Ventures, Florida Funders, FirstLook Partners, Tusk Venture Partners and others, bringing its total equity funding to $105 million.
The company is building Artificial Intelligence (AI) agents across every product pillar to streamline both its internal operations and customer experiences—like credit underwriting agents to deeply understand every business, expense agents, payment workflows, cash management agents, and back-office ERP agents into a single “motherboard” for business owners.
Flex’s vision is to provide every business owner a team of high quality finance agents to run their backoffice like an enterprise. This AI-driven architecture not only improves customer experience but also drives a structurally lower cost base for Flex, enabling it to operate with a lean headcount.
In turn, Flex delivers AI-powered Owner Insights, transforming the data generated from customer activity into a beautiful, intuitive experience that positions Flex as their “AI CFO.”
“Our mission is to build the private bank ambitious business owners have always deserved.
“Middle-market business owners employ 40% of Americans, but the financial system has never been designed around their complex needs.
“Flex is the first platform that supports every step of their financial lives, from the moment they earn revenue to the moment they spend it personally.
“Unlike many of our FinTech peers who focus on saving large enterprises money, we focus on helping ambitious owners make more money,” the chief executive of Flex, Mr Zaid Rahman, said.
A Partner at Portage, Jake Bodanis, said, “Flex is building a category-defining financial institution. The company has proven that middle-market business owners are both massively underserved and extremely valuable customers when given the right financial infrastructure. Flex’s hypergrowth and best in class capital efficiency speaks to how powerful this model is.”
Flex was created to give these high net worth owners a single place to run both their business and personal finances.