With a sharp eye on the fintech landscape, market analyst Priya Jaiswal has tracked the meteoric rise of companies reshaping how businesses manage their finances. We sat down with her to unpack the recent success of Flex, a startup that just secured a significant $60 million Series B funding round. Our discussion delves into the strategic partnerships fueling its growth, the real-world impact of its AI-driven platform on middle-market businesses, and the savvy acquisition that positions it within a key demographic. Jaiswal also offers her expert perspective on Flex’s rapid scaling to over $1 billion in transactions and its future roadmap, which cleverly bridges the gap between business and personal finance.
Congratulations on the $60 million Series B. How did your relationship with the lead investor, Portage, develop, and what specific expertise—beyond capital—are they and other key partners like Crosslink Capital bringing to the table to help you scale?
From an analyst’s perspective, this partnership with Portage is a textbook example of seeking “smart money.” It’s not just about the capital; it’s about strategic alignment. Portage has a deep, concentrated expertise in the fintech ecosystem, so they bring an invaluable network and operational know-how that a generalist VC might lack. When you see names like Crosslink Capital also involved, it signals a powerful syndicate. They understand how to scale B2B platforms specifically for the middle market, which is a notoriously difficult segment to crack. This funding isn’t just fuel for the fire; it’s bringing in seasoned architects who know how to build the engine for the next stage of growth.
Your platform uses AI agents to serve middle-market businesses. Could you share an anecdote of how your AI simplifies a complex process like treasury optimization for a client, and what key performance indicators you use to measure its success for them?
Imagine a mid-sized manufacturing company that doesn’t have a dedicated CFO. Their cash flow is a constant headache, juggling supplier payments and client invoices. Flex’s AI agent acts as that virtual CFO. It can analyze their accounts, identify a pattern of late payments from a major client, and proactively suggest adjusting payment terms, all while optimizing their own bill payments to take advantage of early-payment discounts without straining cash reserves. Success isn’t just a vague feeling of being more organized. It’s measured in hard metrics: an improved cash conversion cycle, a quantifiable reduction in financing costs, and a higher yield on their idle cash. It’s about transforming a reactive financial process into a proactive strategic asset.
Since 2022, you’ve raised $105 million and surpassed $1 billion in transactions. What were one or two of the most critical strategies that enabled this rapid scaling, and could you share some specific metrics that truly highlight the journey?
The growth trajectory here is remarkable, and it boils down to two core strategies. First, they identified a massively underserved niche: middle-market businesses that are too complex for basic accounting software but too small for enterprise-level solutions. They built directly for this “missing middle.” Second, their product rollout was incredibly strategic. Launching the bill payment solution earlier this year was the catalyst that unlocked immense value, and rocketing past the $1 billion transaction volume mark so quickly is the ultimate proof of an acute product-market fit. Raising $105 million since 2022, a period marked by venture capital caution, underscores just how compelling investors find this focused and effective approach.
The $40 million acquisition of Maza is a major step. What was the strategic thinking behind acquiring a finance app for the Spanish-speaking diaspora, and what is your step-by-step plan for integrating its technology and community into Flex’s core business offerings?
This Maza acquisition was a brilliant strategic move that goes far beyond just buying a user base. It’s a culturally intelligent market entry strategy. They recognized that the Spanish-speaking diaspora is one of the most entrepreneurial communities in the U.S., and Maza had already built the trust and the tailored tools for them. The integration plan seems two-fold. First, they can immediately offer Flex’s powerful business finance and payment tools to Maza’s existing entrepreneurs. Second, they can leverage Maza’s expertise in user experience and community building to enhance their core platform, making it more accessible and relevant to a wider, more diverse audience of business owners.
You plan to use the new funds to develop AI and add personal finance tools. Can you elaborate on the product roadmap for these personal finance capabilities and explain how they will complement the existing financial tools you offer to business owners?
For the owner of a middle-market company, the line between business and personal finance is often incredibly blurry. This move to integrate personal finance tools is a natural and powerful extension of their core offering. It’s about creating a single, holistic view of their entire financial world. I envision the roadmap including integrated tools for personal wealth management, tax optimization that considers both business and personal income, and perhaps even personal credit solutions. By doing this, Flex makes its platform indispensable. It’s no longer just a tool for the business; it becomes the central command center for the business owner’s complete financial life, dramatically increasing customer loyalty.
What is your forecast for the future of AI-driven financial management for businesses, especially in the middle market?
I believe we are on the cusp of a major transformation where AI in finance moves from being a tool for automation to a true strategic partner. For the middle market, this is a game-changer. The forecast isn’t just about AI agents that pay bills or optimize treasury; it’s about predictive co-pilots that can model cash flow scenarios, identify market expansion opportunities, and flag compliance risks before they become problems. Essentially, companies like Flex are democratizing the strategic capabilities of a high-functioning finance department, making that level of insight accessible to any business, regardless of size.
