Flex, the San Francisco-based AI fintech startup, has roughly doubled its valuation to approximately $1.2 billion following a $60 million Series B funding round. That’s up from around $500 million earlier in the year.
The round, led by Portage Ventures, brings Flex’s total equity raised to $105 million. The company also previously secured a $200 million credit facility.
The mid-market gap Flex is targeting
Flex is building for mid-sized businesses in the US pulling in between $2 million and $100 million in annual revenue. The platform combines payments, private credit, business finance, and personal finance tools into a single AI-driven ecosystem.
The operational numbers heading into the Series B tell the story. Flex reported a 4x increase in revenue over the year leading up to the funding round. Its private credit offerings tripled over the same period.
