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.
