Flex announced a $70 million Series B1 financing round on July 14 in San Francisco, alongside the launch of Flex Global and the company's expansion into the United Kingdom, as the fintech firm accelerates its AI-native private banking platform for high-net-worth business owners operating across multiple countries and currencies.
The financing was led by Halo Fund, founded by Ryan Smith and Ryan Sweeney, with participation from Portage Ventures, Wellington, Crosslink Capital, 53 Stations, Titanium Ventures, Spice, and Florida Funders. The investment follows Flex's $60 million Series B, completed in December 2025.
Flex said its valuation has increased to approximately $1.2 billion, while annualized revenue has tripled since the previous funding round. To date, the company has raised $180 million in equity and $300 million in debt financing to support the expansion of its banking, payments, lending, treasury and AI-driven financial services.
International banking for globally active business owners
The launch of Flex Global extends the platform's services to business owners whose financial activities span multiple entities, currencies and jurisdictions.
The platform combines business and personal financial services, including multi-currency banking, cross-border payments, treasury management, private credit and expense management through a single interface. According to the company, it currently supports transactions in 76 countries and 32 currencies, while its stablecoin payment infrastructure is designed to facilitate transfers in more than 100 countries.
The UK launch marks the latest step in Flex's international expansion as the company broadens its presence outside the United States.
Stablecoins become part of the financial infrastructure
Flex's expansion reflects the growing use of stablecoins as settlement infrastructure for commercial payments rather than solely for cryptocurrency trading.
Recent regulatory developments in the United States and Europe, together with broader adoption by global payment networks, have accelerated enterprise interest in blockchain-based payment systems. Instead of requiring customers to interact directly with digital wallets, Flex embeds stablecoin settlement into its banking platform, allowing international payments to be processed through conventional banking workflows.
The company said the platform also provides institutional U.S. dollar accounts for eligible international businesses, payment cards for globally operating companies, and private credit services in more than 20 countries.
AI expands beyond automation into financial decision support
Artificial intelligence is integrated across several financial functions, including treasury operations, bill payments, expense management and financial analysis through Flex's Beacon AI platform.
The company said its strategy centers on five business areas: private banking, business finance, personal finance, payments and AI-powered financial operations for middle-market businesses. Flex plans to continue expanding its product portfolio with additional global banking, lending and treasury services.
Growth follows broader fintech shift
Flex reported that its annualized payment volume has surpassed $10 billion, with construction, wholesale trade and multinational companies representing its largest customer groups. The average customer now uses four or more products on the platform, indicating broader adoption across its financial services ecosystem.
The company also plans to increase its workforce from approximately 110 employees to more than 200 by the end of 2026.
The latest funding reflects a broader shift in fintech toward integrated financial platforms serving business owners whose personal and commercial finances increasingly overlap across international markets. As cross-border commerce expands and payment infrastructure continues to evolve, competition is expected to focus on the ability to combine banking, payments and AI-driven financial management within a unified global platform.
