Flex, an AI-native private banking platform for business owners, raises $70 million in a new funding round led by Halo, the investment firm founded by Qualtrics co-founder Ryan Smith. The company previously raised $60 million about six months earlier and had characterized that round as a Series B. With the latest investment, Flex states it is designating the new round as a “Series B1.”
According to coverage, Flex’s objective with the fresh capital is to scale its private banking offering for middle-market and global business owners. The reporting also says Flex is preparing to launch “Flex Global,” an expansion intended to extend the platform’s banking capabilities beyond its current focus.
One outlet also reports an indicative valuation figure of about $1.2 billion in connection with the round, though details are presented as reported. Across the available sources, both agree on the amount raised, the lead investor, and Flex’s stated plan to expand its AI-native private bank to serve businesses on a broader, global basis.
