Flex, an artificial intelligence startup focused on providing integrated banking services for mid-sized businesses, has secured $70 million in a new funding round.
The investment doubles the company’s valuation to approximately $1.2 billion, according to Channel NewsAsia.
The round was led by Halo Fund, a venture capital firm co-founded by Utah Jazz owner Ryan Smith.
The fresh capital injection underscores continued confidence in AI-native financial platforms, even as broader tech markets face pressure from large-cap spending cycles.
Flex positions itself as a one-stop shop for the banking needs of small and mid-sized enterprises, leveraging AI to streamline operations that traditionally require multiple financial providers.
This development arrives amid heightened scrutiny of AI infrastructure costs across the tech sector.