AI Finance Startup Flex Raises $70 Million for Global Expansion

AI finance startup Flex raised $70 million in a Series B1 funding round led by Halo Fund, a venture firm co-founded by Ryan Smith and Ryan Sweeney. The round included participation from returning investors Portage Ventures and Wellington. While the company did not officially disclose its valuation, sources indicate Flex is now valued at approximately $1.2 billion, more than double its valuation from six months ago. The startup has accumulated a total of $180 million in equity and $300 million in debt.

Simultaneously, the company launched Flex Global, a stablecoin-based service that enables business owners to transfer money across more than 100 countries with settlements occurring in minutes. The platform provides multi-currency accounts in 76 countries, institutional USD accounts for foreign owners, and private credit solutions in over 20 countries. Flex reports a nine-figure annualized revenue run rate and an annualized total payment volume exceeding $10 billion.

CEO Zaid Rahman intends to use the new capital to increase marketing and expand the workforce from 110 to over 200 employees by the end of 2026. The platform bundles private credit, personal and business finance, and payment tools—including AI agents like Beacon AI—to serve mid-sized business owners in sectors such as construction, wholesale, and multinational business.