The company announced its $60 million Series B funding round 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.
Flex has closed a $60 million Series B equity round led by Portage Ventures, bringing total equity raised to $105 million. In the last year, the company has quadrupled revenue and tripled its payments volume to $3 billion. as it scales its all-in-one business and personal finance platform for high-net-worth middle-market business owners.
Running a profitable middle-market business has become one of the most complex financial jobs in America, with owners often juggling more than ten disconnected systems to manage their money. Flex was created to give these high net worth owners a single place to run both their business and personal finances.
This latest $60M equity round, followed by its $200M debt and $25M equity raise announced earlier this year, builds on a period of rapid hypergrowth. In just 12 months, Flex has grown revenue fourfold and increased annualized total payments volume from $1 billion to $3 billion across a suite of products, positioning Flex as one of the fastest-growing fintech companies at scale with best-in-class capital efficiency.
The timing aligns with Flex’s upcoming launch of Flex Elite, their new invite-only consumer card and membership, debuting today. Designed as a direct competitor to Amex Centurion, Flex Elite extends the company’s strategy to become the private bank for middle-market business owners, giving them a unified system that spans every dimension of their financial lives.
Traditional fintech platforms have focused either on micro-businesses or sophisticated enterprises. Flex serves the segment in between—the high net worth middle-market business owner generating $3 million to $100 million in revenue, collectively employing roughly 40% of American payroll. These owners are financially sophisticated and often manage their companies alongside significant personal assets, yet have no modern platform that supports the full lifecycle of their money.
Flex is building the category-defining company solving this gap for high net worth business owners with a five-pillar strategy built around private credit, a business finance stack, a personal finance stack, payment solutions, and an ERP built for middle market businesses. These customers now use an average of four or more Flex products.
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