San Francisco, CA: Flex has secured $70 million in Series B1 funding led by Halo Fund to accelerate the launch of Flex Global, the company’s AI-native private banking platform designed for high-net-worth business owners operating across international markets.
The latest investment comes just six months after Flex’s previous funding round, as the fintech company expands its banking infrastructure to more than 100 countries using stablecoin payment rails.
The pre-emptive funding round was led by Ryan Smith and Ryan Sweeney’s Halo Fund, with participation from Portage Ventures, Wellington, Crosslink Capital, 53 Stations, Titanium Ventures, Spice, Florida Funders, and other investors.
The announcement follows Flex’s $60 million Series B completed in December 2025.
According to the company, Flex has tripled its annualized revenue since the previous funding round as it continues to expand its AI-native private banking platform for high-net-worth business owners worldwide.
Halo Fund, co-founded by Utah Jazz and Utah Mammoth owner and Qualtrics founder Ryan Smith alongside Accel General Partner Ryan Sweeney, brings a platform spanning the NBA, NHL, and Formula 1.
The partnership is expected to provide institutional support while expanding Flex’s reach among entrepreneurs and middle-market business owners globally.
With the latest investment, Flex has now raised $180 million in total equity and $300 million in total debt to support expansion across business finance, personal finance, payments, private credit, and enterprise resource planning (ERP).
The company also plans to increase its workforce from 110 employees to more than 200 by the end of the year.
Also Read: Singapore’s Hottest Startups Raise $15.7 Billion, Led by DayOne: Tracxn Report
“Middle-market business owners are one of the most important and underserved customers in finance globally,” said Zaid Rahman, CEO and Founder of Flex.
“Depending on the type of owner, they’ll tell you their vendors are spread across the US, Poland, Brazil, etc; their accounts hold currency outside of just USD; and they have to oscillate across 2-3 vendors and layers of fees just to do business outside their country.”
The company said Silicon Valley has historically developed financial software separately for businesses and consumers, while largely overlooking business owners whose personal and business finances are closely connected.
According to Flex, around 350,000 high-net-worth business owners in the United States contribute to approximately 40% of private-sector payroll, while an estimated 3 million similar business owners globally manage operations across multiple entities, currencies, and jurisdictions.
Ryan Smith, co-founder of Halo Fund and owner of the Utah Jazz and Utah Mammoth, said: “I’ve spent my career helping entrepreneurs win, and they all have the same problem: their business and personal financial lives are completely intertwined, but every bank treats them as two different customers, missing what they’re actually trying to build.
Flex is the first team creating a real private bank around the owner and the entire household’s finances, and the gap they’re filling is just as real globally as it is in the US. Zaid and the team have built an enduring business that is becoming an institution for the world’s most ambitious owners.”
Flex Global targets international business owners
As part of the funding announcement, Flex introduced Flex Global, a platform designed for high-net-worth business owners operating across multiple countries and currencies.
The platform will offer:
- Stablecoin payment rails and digital wallets across 100+ countries, enabling cross-border settlements within minutes.
- Institutional USD accounts for international business owners requiring access to the US dollar.
- Multi-currency accounts across 76 countries, supporting 32 currencies, including USD, RMB, INR, and MXN.
- Private credit solutions in more than 20 countries.
- Globally issued business cards supporting multiple entities and jurisdictions through a unified platform.
According to the company, the objective is to provide business owners with a single financial platform that supports both personal and business banking regardless of where they operate.
Flex surpasses $10 billion in annualized payment volume
Flex reported that it has exceeded $10 billion in annualized total payment volume, representing approximately fourfold year-over-year growth while reaching a nine-figure annualized revenue run rate.
The company also stated that the average customer now uses four or more products on the platform, reflecting broader adoption across its financial services ecosystem.
Its three largest customer segments by business count are:
- Construction
- Wholesale
- Multinational businesses
- Stablecoin infrastructure drives global expansion
According to Flex, fintech has traditionally focused on consumer banking and enterprise software while leaving high-net-worth business owners underserved due to limited global financial infrastructure.
The company noted that recent developments, including stablecoin legislation in the United States and Europe, wider adoption by global payment networks, and increasing business-to-business stablecoin payment volumes during 2025, have helped create infrastructure capable of supporting international financial services.
Flex said its approach is designed to make stablecoin technology invisible to customers by embedding settlement capabilities within a broader AI-native private banking relationship, allowing businesses to complete cross-border payments in minutes without directly interacting with digital wallets.
AI-native banking platform
Flex describes itself as an AI-native private banking platform for high-net-worth middle-market business owners, built around five core pillars:
- Private credit
- Business finance
- Personal finance
- Payments
- An agentic back-office finance operating system
The platform currently combines credit, banking, payment processing, bill payments, expense management, treasury services, and enterprise finance AI agents, including Beacon AI.
Looking ahead, Flex plans to further expand its offerings to include additional global banking capabilities, personal credit products, rewards cards, treasury solutions, travel services, and mortgage products.
