Flex, a FINETCH AI-native private bank for high-net-worth mid-sized business owners, has raised $70 million in a Series B1 led by Halo Fund, the venture firm co-founded by Utah Jazz owner Ryan Smith and Accel partner Ryan Sweeney,with participation from Portage, Wellington, Crosslink Capital, 53 Stations, Titanium Ventures, Spice, and Florida Funders, at a reported valuation of approximately $1.2 billion, more than double its valuation six months ago. CEO Zaid Rahman’s platform bundles private credit, business finance, personal finance, and payment tools into a single AI-native stack for what he calls “jumbo shrimps,”the 350,000–400,000 U.S. business owners managing 40% of America’s payroll who are too large for consumer fintech but too small for traditional private banking, with Flex Global, a new stablecoin-powered cross-border payments service operating across 100+ countries, launching alongside the raise. The company has now raised $180 million in equity and $300 million in debt, crossed $10 billion in annualized total payment volume, and is growing at roughly 4x year-over-year with nine-figure annualized revenue.

AI Fintech Startup Flex Hits $1.2 Bln Valuation After $70 Mln Raise