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Flex secures $20m in equity and $100m in debt funding as part of Series A round | Fintech InShorts: Latest fintech news, analysis by experts

Flex secures $20m in equity and $100m in debt funding as part of Series A round

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Flex secures $20m in equity and $100m in debt funding as part of Series A round

September 21, 2023

US-based B2B fintech start-up Flex secures $120 million in funding, launching a finance app with a credit card for small businesses.

Facts

Flex, formerly known as Flexbase, raises $100 million in debt funding from Community Investment Management (CIM) and $20 million in equity funding led by Florida Funders.
Flex introduces a finance app targeting underserved small business owners, offering a credit card issued by Patriot Bank with 0% interest for 60 days.
The app aims to simplify expense reporting, reduce administrative burdens, and streamline employee card management.
Zaid Rahman, Flex’s founder and CEO, highlights the need to support small businesses often overlooked by B2B fintechs serving tech startups and large enterprises.
Key features of Flex include Flex Banking with multiple free accounts, up to 4% yield on idle cash, debit cards with 1% cashback issued by Thread Bank, and treasury management services through partner ADM.
Founded in 2020, Flex is headquartered in Miami, Florida.

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