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Flex Secures $70 Million Series B1, Valued at $1.2 Billion, to Expand AI-Powered Fintech Platform Globally
In a move that could reshape how mid‑market firms manage money, San Francisco fintech Flex closed a $70 million Series B1 round that lifts its valuation to $1.2 billion.
The round, announced on 14 July 2026, was led by Halo Fund, a venture firm co‑founded by Utah Jazz owner Ryan Smith and Accel partner Ryan Sweeney. Returning investors Portage Ventures and Crosslink Capital also joined the financing. According to Reuters, the new capital will let Flex accelerate the launch of Flex Global, expand its marketing efforts, and more than double its workforce to over 200 employees by year‑end.
CEO Zaid Rahman told Reuters that Flex targets what he calls “jumbo shrimps”—mid‑sized businesses that generate tens to hundreds of millions in revenue but remain underserved by traditional fintechs. The company’s platform bundles private credit, business finance, personal finance and payment tools, and features AI agents such as Beacon AI, which delivers weekly financial overviews.
To date, Flex has raised $180 million in equity and $300 million in debt. It serves a few thousand customers and reports a nine‑figure annualised revenue run‑rate that has grown roughly four‑fold year‑over‑year. The fresh capital will support the company’s global expansion and marketing push.
On Tuesday, Flex launched Flex Global, a stablecoin‑powered service that moves money across more than 100 countries in minutes and lets businesses hold 32 currencies. The platform positions itself as a private‑banking solution for business owners worldwide.
Industry observers note that Flex’s focus on stablecoins and AI‑driven financial insights aligns with a broader trend of fintech firms streamlining cross‑border payments and providing data‑rich advisory services to mid‑market enterprises.
The valuation jump to $1.2 billion follows a $60 million Series B round earlier in 2026, signaling rapid investor confidence. Analysts point out that Flex’s combination of AI, private credit, and stablecoin infrastructure could give it a competitive edge in the growing market for digital banking services tailored to mid‑size firms.
Flex’s next steps, as outlined by CEO Rahman, include expanding its global footprint, increasing marketing spend, and scaling its headcount. The company plans to double its workforce to more than 200 employees by the end of the year.
The funding round and the launch of Flex Global come amid intensifying regulatory scrutiny of stablecoins. While the company has not yet disclosed any regulatory filings related to its stablecoin operations, it has positioned itself as a compliant, AI‑native private‑banking platform.
In summary, Flex has secured $70 million in Series B1 funding, bringing its valuation to $1.2 billion. The capital will support the rollout of its stablecoin‑based cross‑border payment service, broaden its marketing reach, and double its staff. The company remains focused on serving mid‑sized businesses with AI‑enhanced financial tools.
The current situation is that Flex has raised significant capital, launched a global stablecoin service, and plans to scale operations. Future developments will include the completion of its global expansion, further product enhancements, and potential regulatory filings as it expands its cross‑border payment capabilities.
The round, announced on 14 July 2026, was led by Halo Fund, a venture firm co‑founded by Utah Jazz owner Ryan Smith and Accel partner Ryan Sweeney. Returning investors Portage Ventures and Crosslink Capital also joined the financing. According to Reuters, the new capital will let Flex accelerate the launch of Flex Global, expand its marketing efforts, and more than double its workforce to over 200 employees by year‑end.
CEO Zaid Rahman told Reuters that Flex targets what he calls “jumbo shrimps”—mid‑sized businesses that generate tens to hundreds of millions in revenue but remain underserved by traditional fintechs. The company’s platform bundles private credit, business finance, personal finance and payment tools, and features AI agents such as Beacon AI, which delivers weekly financial overviews.
To date, Flex has raised $180 million in equity and $300 million in debt. It serves a few thousand customers and reports a nine‑figure annualised revenue run‑rate that has grown roughly four‑fold year‑over‑year. The fresh capital will support the company’s global expansion and marketing push.
On Tuesday, Flex launched Flex Global, a stablecoin‑powered service that moves money across more than 100 countries in minutes and lets businesses hold 32 currencies. The platform positions itself as a private‑banking solution for business owners worldwide.
Industry observers note that Flex’s focus on stablecoins and AI‑driven financial insights aligns with a broader trend of fintech firms streamlining cross‑border payments and providing data‑rich advisory services to mid‑market enterprises.
The valuation jump to $1.2 billion follows a $60 million Series B round earlier in 2026, signaling rapid investor confidence. Analysts point out that Flex’s combination of AI, private credit, and stablecoin infrastructure could give it a competitive edge in the growing market for digital banking services tailored to mid‑size firms.
Flex’s next steps, as outlined by CEO Rahman, include expanding its global footprint, increasing marketing spend, and scaling its headcount. The company plans to double its workforce to more than 200 employees by the end of the year.
The funding round and the launch of Flex Global come amid intensifying regulatory scrutiny of stablecoins. While the company has not yet disclosed any regulatory filings related to its stablecoin operations, it has positioned itself as a compliant, AI‑native private‑banking platform.
In summary, Flex has secured $70 million in Series B1 funding, bringing its valuation to $1.2 billion. The capital will support the rollout of its stablecoin‑based cross‑border payment service, broaden its marketing reach, and double its staff. The company remains focused on serving mid‑sized businesses with AI‑enhanced financial tools.
The current situation is that Flex has raised significant capital, launched a global stablecoin service, and plans to scale operations. Future developments will include the completion of its global expansion, further product enhancements, and potential regulatory filings as it expands its cross‑border payment capabilities.
