Halo Fund Leads $70M Investment to Accelerate the Launch of Flex Global

Flex, the financial home for business owners globally, led by Zaid Rahman and the team, has announced a $70 million Series B1, led by Ryan Smith and Ryan Sweeney’s Halo Fund with participation from Portage Ventures, Wellington, Crosslink Capital, 53 Stations, Titanium Ventures, Spice, Florida Funders, and others. The round comes just months after the company's $60 million Series B in December 2025. Annualized revenue increased 3x since then as Flex accelerated private banking for high-net-worth business owners globally.

The funding round also includes Halo Fund, co-founded by Qualtrics founder Ryan Smith and Accel General Partner Ryan Sweeney, providing Flex with access to a broad sports and entertainment network spanning the NBA, NHL, and Formula 1. The partnership is expected to strengthen the company's reach among entrepreneurs and middle-market business owners.

With the new financing, Flex has raised a total of $180 million in equity and $300 million in debt. The capital will support expansion across business finance, personal finance, payments, private credit, and ERP, while the company plans to grow its workforce from 110 employees to more than 200 by the end of the year.

“Middle-market business owners remain one of the most underserved segments in global finance,” said Zaid Rahman, CEO and Founder of Flex. “Many operate across multiple countries, manage vendors and customers in different markets, hold funds in several currencies, and rely on multiple financial providers to manage cross-border operations. Flex is building a platform designed to simplify that complexity and help businesses operate more efficiently on a global scale.”

While financial software has traditionally been built for either businesses or consumers, entrepreneurs who manage both have remained largely underserved. In the US alone, around 350,000 high-net-worth business owners account for nearly 40% of private-sector payroll, yet most still rely on separate tools for their business and personal finances. Globally, an estimated 3 million business owners operate across multiple entities, currencies, and jurisdictions, creating demand for more integrated financial solutions.

“Business owners often manage deeply interconnected personal and business finances, yet traditional financial institutions continue to treat them as separate customers,” said Ryan Smith, Co-founder of Halo Fund. “Flex is building an integrated financial platform designed around the needs of business owners and their households, addressing a gap that exists not only in the US but globally.”

Alongside the funding, Flex introduced Flex Global, a financial platform built for business owners operating across multiple countries and currencies. The offering includes stablecoin payment rails, institutional USD accounts, multi-currency banking across 76 countries, private credit solutions in more than 20 markets, and global business cards managed through a single platform.

By combining payments, banking, credit, and cross-border financial infrastructure, Flex aims to provide internationally operating business owners with a unified financial platform that supports both their businesses and personal financial needs.

Flex has surpassed $10 billion in annualized payment volume, with total payment volume growing approximately fourfold year over year. The company is now operating at a nine-figure annualized revenue run rate, reflecting strong customer adoption and platform growth.

Customers increasingly use multiple products across the platform, with the average client now adopting four or more Flex offerings. Construction, wholesale, and multinational businesses represent the company's largest customer segments by number of clients.

The rise of stablecoin infrastructure is reshaping global business finance. As regulatory frameworks mature and payment networks move from pilot programs to production, cross-border payments are becoming faster, more efficient, and better suited for enterprise use. At the same time, business-to-business stablecoin transactions have grown rapidly, reflecting broader adoption of digital payment rails.

Flex is building on this shift with Flex Global, embedding stablecoin infrastructure behind a private banking experience for internationally operating business owners. Rather than requiring customers to manage digital wallets, the platform enables fast cross-border payments through a familiar banking interface, using AI to help manage finances across businesses, currencies, and jurisdictions.

Flex is building an AI-native private banking platform designed for high-net-worth business owners operating in the middle market. The platform combines private credit, business and personal financial services, payments, and an AI-powered finance operating system into a single offering.

Today, Flex integrates credit, banking, payment processing, bill payments, expense management, treasury, and AI finance agents, including Beacon AI. The company plans to further expand its platform with global banking, personal credit and rewards cards, treasury, travel, and mortgage products.