Flex Acquires Maza To Enhance Consumer Offerings

Flex, a financial tech company that helps business owners organize their back-office work, has bought Maza a fintech application in a deal worth $40 million.

Maza will now be known as Flex Consumer. This new part of Flex will help business owners sort out combined business and personal expenses. Maza’s founders Robbie Figueroa, Luciano Arango, and Siggy Bilstein will continue to lead this new team.

Maza Developed Tools To Help Users With Business Launch And Financial Management

Maza was introduced in 2022 to help U.S.-based Spanish speakers get financial tools like debit cards and bank accounts. Over time, the company realized that a large number of its users were solo entrepreneurs or small business owners. So, the firm started building tools to assist them in launching companies, managing finances, and making payments more easily.

This discovery made the firm to consider teaming up with Flex which has an all-in-one app that helps businesses with everything from payments to money tracking. The two companies agreed to work together to build better tools for both personal and business finances.

As part of the deal, Wellington also invested $10 million. Wellington had also led an earlier $15 million investment in Maza that hadn’t yet been made public.

Flex’s Chief Executive Officer, Zaid Rahman, noted that Maza had built a great way for business owners to get started and also offered tools for day-to-day finances. He explained that Flex connects both personal and business finance in one easy platform, and joining with Maza makes that connection stronger.

Flex Recently Raised $25 Million In Funding, Led By Titanium Venture

Luciano Arango stated that the team is happy to give Maza users access to business financing while also bringing personal finance tools to Flex business owners

Siggy Bilstein, co-founder and Chief Technology Officer of Maza added that in a world driven by AI, Flex is leading the way for what business owners want from their software. He further said he is excited about how Maza, now part of the team, is already helping the firm move forward.

Recently, Flex secured $25 million in new funding, led by Titanium Ventures. Other investors included Companyon Ventures, AAF Management, MS&AD Ventures, First Look Partners, and Florida Funders. Flex also locked in a $200 million funding agreement with Victory Park Capital to help grow the business.

Flex, founded in 2022, brings many business tasks into one smart app to help companies manage finances easily. The firm provides a business credit card with no interest for the first 60 days on every transaction, tools for tracking employee spending, rewards, and Flex Banking, which gives up to 2.99% on unused cash. The company also includes features like bill payment, cash flow tracking, and mobile apps.