AI private banking startup Flex raises $70m

Flex has secured $70 million in new funding to expand its AI-driven banking platform designed specifically for business owners. While many banks struggle to integrate business and personal finances, Flex uses artificial intelligence to bridge that gap. For retail operators and business owners, this signals a shift toward more integrated financial tools that treat your business entity and your personal wealth as part of the same ecosystem. The platform offers high-yield accounts and simplified credit access, aiming to solve the common headache of managing fragmented accounts across different banks. The influx of capital will allow Flex to expand its services globally and improve its automation tools. For the average merchant, this means better technology is coming to the small-to-medium business (SMB) lending space. AI is being used here to analyze cash flow more accurately than traditional underwriters. This could eventually lead to faster credit approvals and more personalized financing options for your storefront or online business. As these AI-native platforms scale, expect traditional banks to feel the pressure to offer similar, more flexible credit products for business operators.

Source: Finextra — Lending

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