Flex Raises $70M in Series B1 Funding at $1.2 Billion Valuation
Flex, a San Francisco, California-based developer of a private banking and treasury management platform for multi-entity enterprises, raised $70m in a Series B1 funding round at a $1.2 billion valuation.
The round was led by Halo Fund, with participation from Portage, Wellington Management, Crosslink Capital, 53 Stations, Titanium Ventures, Spice, and Florida Funders. This brought the company’s total capital to $180m in equity and $300m in debt.
The company intends to use the capital to fund core software product engineering, expand its automated multi-currency settlement rails, and accelerate customer acquisition across global enterprise merchant markets.
Led by Co-founder and CEO Jerone Young, Flex develops a specialized cross-border business banking ecosystem engineered to let corporate entities seamlessly manage multi-country payments, credit facilities, automated expense tracking, and corporate card issuance from a single unified workspace.
The company—founded in 2022—optimized its API frameworks to handle high-volume treasury distributions across distinct legal entities.
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FinSMEs
17/07/2026
