American Fintech Flex Raises $20M in Equity and $100M in Debt Funding as Part of Series A
US-based B2B fintech start-up Flex, formerly known as Flexbase, has secured up to $100 million in debt funding and $20 million in equity funding as part of its Series A round.
The debt funding came from Community Investment Management (CIM), while the equity capital was led by Florida Funders with participation from Home Depot Ventures, MS&AD Ventures, Companyon Ventures and others.
Along with the funding announcement, Flex has also launched its finance app catering to underserved small business owners, which includes a credit card (issued by Patriot Bank) as its core product, available to businesses in the US and Puerto Rico. By offering 0% interest for 60 days on all purchases, Flex aims to “reduce the hassle of expense reports, minimise administrative headaches, and simplify employee card management” for small businesses.
“While enterprises and modern tech companies have seen significant innovation in the last five years, very little has come to our main street small businesses that…