California-based fintech company Flex has raised $70 million in a B1 funding round led by Halo Fund, according to Forbes. The company said the new capital is intended to support further business expansion. Flex operates Flex Global, a stablecoin-based cross-border banking platform that offers multicurrency accounts covering 32 currencies across 170 countries and regions. The report said Flex’s core customer base includes companies with annual revenue ranging from $3 million to $200 million. Those customers are concentrated mainly in the construction, wholesale, and import-export sectors. The funding highlights investor interest in financial infrastructure that uses stablecoins to support cross-border banking and payments for businesses.
California-based fintech company Flex has raised $70 million in a B1 funding round led by Halo Fund, according to Forbes. The company said the proceeds will be used to expand the business.
Flex Global offers stablecoin-based cross-border banking
Flex Global, the company’s cross-border banking platform, is built on stablecoins and provides multicurrency accounts. The platform supports 32 currencies across 170 countries and regions.
Customer base centers on mid-market businesses
The Forbes report said Flex’s core customers generate annual revenue of between $3 million and $200 million. They are mainly concentrated in the construction, wholesale, and import-export industries.
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