Flex, an AI-driven fintech aiming to become a one-stop financial operating system for mid-sized U.S. businesses, has raised $60 million in a Series B round led by Portage Ventures, valuing the company at ~$500 million.
This brings Flex’s total equity funding to $105 million.
🔑 What Makes Flex Stand Out?
Flex targets America’s “jumbo shrimps” — profitable mid-sized companies generating $2M–$100M annually, a segment largely underserved by major fintech platforms.
Instead of solving isolated financial tasks, Flex bundles:
- Private credit
- Business finance tools
- Personal financial services
- Payments & business credit card
CEO Zaid Rahman highlights that these mid-sized firms represent 40% of U.S. payroll, yet often lack in-house financial departments.
📈 Adoption & Market Signal
- Payments volume tripled to $3B in 12 months
- AI outputs are reviewed by finance experts to address real-world adoption concerns (as only ~5% of AI projects move past pilots, per MIT)
- Flex is launching Flex Elite, an invite-only consumer card competing with Amex Centurion
The new capital will accelerate product development and expand Flex’s 80-member team as demand grows.
Flex’s trajectory reflects a broader fintech shift: AI platforms evolving into full financial ecosystems — especially for mid-sized companies long overlooked by both banks and big tech.