Flexio, a Mexico City, Mexico-based platform for business-to-business (B2B) payments in Latin America, raised $3M in Seed funding.
The round was led by Costanoa Ventures with participation from Soma Capital, Latitud Fund, Omri Mor, Daniel Kahn and Diego Oppenheimer.
The company intends to use the funds to expand operations and to accelerate product production.
Co-founded by Nathan Schorr, Juan Manuel Sobral, and Andrés Hernández, Flexio provides a payments platform to enable businesses across Latin America to automate bill payments and invoicing.
Flexio automates accounts receivable (AR) and accounts payable (AP) for SMBs, taking care of pay-ins, payouts, communication, and integrations with enterprise resource planning systems (ERPs) and accounting software. With Flexio, customers can cut the time they spend on AR/AP by as much as 70%. The platform offers:
- A modern interface that makes the platform easier to use than existing methods while still complying with government regulations.
- Cashflow analytics that keeps business owners updated on their companies’ financial health in real-time, with no reporting lags.
- Integration with bank accounts and use of digital payments instead of traditional, manual logins.
- Automation of all invoicing and accounts receivable processes, including all communications, routing, and approvals.
FinSMEs
08/02/2022