Flex Secures $70M to Launch Global Platform

San Francisco, CA, Flex, the AI-native private banking platform, announced a preemptive $70 million Series B1 funding round, led by Ryan Smith and Ryan Sweeney’s Halo Fund. This investment, secured just six months after its $60 million Series B, underscores rapid expansion and a 3x increase in annualized revenue since December 2025.

The fresh capital infusion, bringing Flex’s total equity to $180 million and total debt to $300 million, is earmarked for the accelerated launch of Flex Global. This initiative aims to extend the platform’s reach to over 100 countries, banking and moving high-net-worth business owners’ money globally in minutes.

Halo Fund, co-founded by Qualtrics founder Ryan Smith and Accel general partner Ryan Sweeney, brings significant strategic value. Their platform, spanning professional sports and entertainment, offers distribution into audiences of successful middle-market business owners, precisely the demographic Flex Global targets.

Zaid Rahman, CEO and Founder of Flex, emphasized the underserved nature of this market. “Middle-market business owners are one of the most important and underserved customers in finance globally,” stated Rahman. He highlighted the operational complexities faced by these owners, who often manage vendors across multiple countries and currencies, navigating layers of fees and disparate banking systems. For more on Flex's previous funding, read about how Flex raises $60M to scale its AI-native 'private bank'.

Silicon Valley’s fintech innovations have largely focused on corporate and consumer markets, missing the unique needs of individuals who are both business owners and high-net-worth individuals. In the U.S. alone, approximately 350,000 such owners drive 40% of private-sector payroll, yet their financial lives remain fragmented across separate business and personal tools.

Globally, an estimated 3 million high-net-worth business owners operate across multiple entities, currencies, and jurisdictions. Flex Global is designed to address this complexity head-on.

A Global Financial Home for Entrepreneurs

Flex Global introduces a single financial ecosystem built for the truly global entrepreneur. This includes stablecoin payment rails and wallets in over 100 countries, enabling cross-border payments in minutes. This shift towards efficient stablecoin cross-border payments reflects a significant industry trend.

The platform will also offer institutional USD accounts for foreign business owners, multi-currency accounts supporting 32 currencies across 76 countries, and private credit solutions in over 20 countries. Additionally, it will issue cards for businesses operating globally, consolidating entities and geographies under one cohesive platform.

Ryan Smith, co-founder of Halo Fund, commented, “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.” This approach to global banking solutions for entrepreneurs represents a significant evolution in financial services.

Flex has already surpassed $10 billion in annualized total payment volume, growing approximately 4x year-over-year with a nine-figure annualized revenue run rate. The average Flex customer now utilizes four or more products, indicating a deeply integrated relationship with the platform.

The timing for Flex’s expansion is critical. For two decades, fintech largely overlooked the high-net-worth business owner due to a lack of suitable global rails. However, recent stablecoin legislation in the U.S. and Europe, coupled with major payment networks moving stablecoin settlement from pilots to production, has created an opportune environment. Real-economy stablecoin payment volume roughly doubled in 2025, primarily driven by B2B transactions.

Flex’s strategy is to make these advanced rails invisible, embedding stablecoin settlement beneath a full private-banking relationship. This allows owners to conduct global transactions seamlessly, with AI assisting in balance sheet management, ensuring money moves in minutes without direct interaction with stablecoins.

The company plans to double its team from 110 to over 200 employees by year-end, further solidifying its position as an AI-native private banking platform for high-net-worth business owners globally.