Flex (formerly known as Flexbase), a Miami, FL-based B2B FinTech company, raised $120M Series A debt and equity funding.
The round included debt financing from CIM with an agreement to fund up to $100M, and $20M in equity capital led by Florida Funders with participation from Home Depot Ventures, MS&AD Ventures, Companyon Ventures, and others.
The company intends to use the funds to expand their business and accelerate growth.
Led by Zaid Rahman, founder and CEO, and Hadi Solh, co-founder, Flex is a B2B FinTech company that provides SMBs with solutions for credit and finance management. Its core product is a credit card that caters to traditional small businesses that have historically been underserved by financial institutions and up-and-coming FinTech platforms. The company offers 0% interest for 60 days on all purchases, providing Net-60 float and flexibility for businesses to grow. The platform bundles every aspect of the back office, from banking to receipt capture, employee cards with specific limits, expense tracking and more, all in one place. With a demand from over 20,000 companies, Flex has moved beyond its initial construction focus to service industries such as logistics, trucking, farming, mom-and-pop service businesses, digital businesses, e-commerce companies, restaurants, real estate and more.
FinSMEs
19/09/2023