Flex raises $70m from Ryan Smith’s Halo fund to take its AI private bank global
Six months ago, Flex raised $60m and called it a Series B. On Tuesday it said it had raised another $70m, and rather than move down the alphabet, it settled on a Series B1.
The round was led by Halo, the investment firm set up last year by Qualtrics founder Ryan Smith, who owns the NBA’s Utah Jazz and the NHL’s Utah Mammoth, together with his longtime backer Ryan Sweeney, a general partner at Accel.
Portage, Wellington, Crosslink Capital, 53 Stations, Titanium Ventures, Spice and Florida Funders also took part.
Flex says the money brings its total equity raised to $180m, alongside $300m of debt. Headcount stands at 110 and the company expects to be past 200 by the end of the year.
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