Flexbase Technologies, Inc. is a financial technology platform for US businesses. Flex is not a bank: deposit accounts, debit, charge and credit cards are provided through Thread Bank, Column N.A., Lead Bank and other regulated partners.
The platform combines business accounts, cards, expense management, credit products and international payments. Flex uses the marketing description AI-native private bank, but that phrase is not a banking licence or regulatory category. A separate Flex Elite product links benefits on an owner's personal card to the transaction volume of the related business; eligibility and protection depend on the contracts governing each bank and card programme.
Company, financing and partner-bank model
The company was founded by Zaid Rahman — a Thiel Fellow and Columbia dropout who previously launched the learning startup Volley. Legally it is Flexbase Technologies, Inc., trading as Flex; the first version of the product, in 2022, served construction contractors and their perennial cash-gap problem.
The company has raised capital since 2023, in equity rounds and debt facilities.
| Round | Amount | Valuation | Lead investor |
|---|---|---|---|
| September 2023, equity | $20 million | — | — |
| September 2023, debt | $100 million | — | — |
| March 2025 | $25 million | ≈$250 million | — |
| December 2025, Series B | $60 million | — | Portage |
| July 2026, Series B1 | $70 million | $1.2 billion | Halo Fund |
That is ≈$180 million of equity ($105 million after the Series B) and ≈$300 million of debt in total; the pool includes Wellington, Crosslink Capital, Titanium Ventures, MS&AD Ventures and Florida Funders. The 2023 financing was disclosed alongside the move beyond the original construction-industry focus, and TechCrunch reported the March 2025 round: the average client at the time did ≈$25 million in annual revenue, and payment volume had passed $1 billion.
Metrics as of July 2026, per the company: over $10 billion in annualised payment volume (4x growth year on year), annualised revenue "in nine figures", and 110 employees with a plan to double by year end. According to the company, the average client uses four or more products; this reflects cross-selling within the platform.
Key parameters of the platform as of August–September 2026.
| Legal status | not a bank; deposits and cards run through Thread Bank, Column N.A. and Lead Bank (Member FDIC) |
|---|---|
| Who qualifies | US business with an EIN, applicant with an SSN; every owner of 25% or more goes on the application |
| Credit limits | no sole proprietorships; unavailable in California, Vermont, South Dakota, North Dakota and Nevada |
| Cost | base plan $0 per month; 1% FX fee per transaction; USD wires free |
| Interest on balances | up to 2.47% APY above $1 million average daily balance; up to 1.37% above $100 thousand |
| Protection of funds | FDIC up to $3 million through the Thread Bank sweep, $250 thousand per participating bank |
| Coming soon | Flex Elite and some stablecoin functions, as of September 2026 |
Products and pricing
The base plan costs $0 per month (here and below — as of August 2026). It includes an interest-bearing operating account, unlimited physical and virtual cards, expense management, accounting integrations, same-day ACH and domestic wires. A separate Flex Elite plan for "high-spending clients" is marked coming soon.
Interest on balances is tiered: up to 2.47% APY on an average daily balance above $1 million, and up to 1.37% above $100 thousand. Funds are placed through the Thread Bank sweep programme with FDIC coverage up to $3 million ($250 thousand per participating bank).
The card line splits into three products.
| Card | Type | What it gives |
|---|---|---|
| Business Reward Card | charge, daily settlement | 2% cashback or points |
| Net-60 Card | up to 60 days deferred | a full 60 days interest-free or up to 1.75% cashback for early repayment |
| Visa Infinite Business | premium, no annual fee | unlimited Priority Pass, concierge, insurance |
Flex launched the Visa Infinite Business card in July 2025 — the first US fintech to do so.
A separate product for business owners, Flex Elite, is marked coming soon on the company's own site as of September 2026 and has not launched; only pre-registration is open. The announced terms: up to 5% cashback with no categories and no cap, $0 annual fee, no foreign transaction fee, with the rate tied to the Flex Volume tier — the volume the owner's business pushes through the platform — recalculated automatically each month.
The international block: payments to over 180 countries, 32 currencies, multi-currency accounts, virtual account details in USD, GBP and EUR, and local rails including SEPA, Pix, ACH and FedNow. The FX fee is stated as 1% per transaction, USD wires carry no fee, and transfers take 2–9 business days. Flex Global adds non-custodial USDC and USDT wallets, 1:1 on/off-ramp and a card accepted in over 170 countries; some stablecoin functions are still marked coming soon.
Comparable platforms
Comparable platforms differ by target customer and banking infrastructure.
- Ramp won the market on expense management and aggressive procurement automation.
- Brex moved into enterprise and the startup segment and has been part of Capital One since 7 April 2026, when the $5.15bn acquisition closed with the brand and team kept.
- Mercury took the niche of convenient banking for digital-first companies.
- Slash and Meow work narrower verticals — arbitrage, e-commerce, treasury.
The US business-account table in the neobanks overview (section "Business accounts in the US and the EU") sets Flex beside Mercury, Brex, Ramp, Relay, Rho, Bluevine and Slash by partner bank, FDIC reach through the sweep, who may open, plans and idle-cash yield. Two columns separate Flex there: its $3m sweep sits at the low end with Relay and Bluevine, and it is the only row that asks the applicant for an SSN outright.
Flex differentiates itself by linking business products to separate benefits for the company's owner. This includes the Elite card, whose benefits depend on business volume, and announced AI, travel and other functions. Forbes frames this as an attempt to take from Amex Centurion and the classic private banks the client who earns through a business and spends as a private individual.
Because banking, card, credit and international-payment functions are provided by several partners, each product must be assessed through its own legal entity, agreement and operational chain rather than through the umbrella brand alone.
Eligibility, protection of funds and limitations
Eligibility differs between banking and credit products. Under the application rules, the banking product is open to all US-based businesses including sole proprietorships, while credit is open to US-based businesses excluding sole proprietorships and excluding the states of California, Vermont, South Dakota, North Dakota and Nevada. A company EIN and the applicant's SSN are required; every owner of 25% or more goes on the application.
A foreign owner of a US LLC or corporation should confirm that the applicant meets the requirements of the relevant product. Public rules require the applicant's EIN and SSN and do not identify an ITIN as a general substitute. Appointing a nominal or formal officer merely to supply an SSN does not remove beneficial-ownership disclosure and can create governance, tax and fraud risks.
Flex is the technology interface, while deposit funds are placed with partner banks. The stated higher FDIC limit is achieved through a sweep across multiple institutions and depends on actual allocation, ownership category and any other deposits the client already holds at the same banks.
Before onboarding, confirm the exchange rate and fee, the list of sweep banks, separate FDIC limits, state availability, credit underwriting, changes to the Elite tier, chargeback and account-freeze procedures and the role of each contractual operator.
Banking and operating infrastructure
Flex does not hold its own licence to accept bank deposits. Per the legal disclosures, card and deposit products are distributed across three partners: Thread Bank (Member FDIC) handles banking and the debit card, Column N.A. (Member FDIC) issues the Business Reward Card as a Visa charge card and maintains deposit accounts, and Lead Bank issues the credit line-up including Net-60 and Visa Infinite Business.
International services rely on separate licensed infrastructure providers. Cross-border payments run through an Airwallex Connected Account, and the global payments disclosures name Visa Global Services Inc. as the licensed money transmitter (NMLS ID 181032), registered with FinCEN and FINTRAC. Stablecoin wallets are stated to be non-custodial and are provisioned under the client's verified business identity.
The platform earns revenue from four sources.
- Interchange is the main one: 2% cashback on the Reward Card and up to 5% on Elite are funded out of Visa's commercial-card rates plus volume incentives from the network.
- Spread on balances: the company pays up to 2.47% and earns the gap to the market rate.
- The 1% FX fee on cross-border payments.
- Credit — Net-60, working capital and bill pay later, funded from the ≈$300 million debt pool (Victory Park Capital was one of the providers).
The main operating risks follow from the same model. The highest personal-card cashback tier depends on substantial business activity from the related company and may change if programme economics or transaction volumes change. The partner-bank model creates dependency on sponsor banks and programme agreements; a bank change can require new account details, disclosures and customer documentation. Responsibility for an operational failure may be divided among Flex, the issuing bank, the payment provider and other participants.
Regulation and status
Flexbase Technologies, Inc. describes itself as a financial technology company and states plainly that it is not an FDIC-insured bank. This is the standard US construction: the regulated entity is the partner bank, and the fintech acts as programme manager and agent.
No publicly disclosed information could be found on Flex holding its own MSB registration or state money transmitter licences; in the global payments disclosures the licensed transmitter role is performed by a partner. The stablecoin perimeter is described as non-custodial, which removes the custody burden from the company and simultaneously shifts loss-of-access risk onto the client.
Since 2024–2025 US regulators have visibly tightened supervision of BaaS partnerships, and sweep programmes have drawn separate attention. The practical takeaway for a client is simple: check the current list of banks in the sweep network, and understand that FDIC covers money in the partner bank's account; the fintech's own obligations fall outside that coverage.
Q/A
Can a non-US resident open a Flex account?
A US entity with an EIN is required, and the published application rules require an applicant SSN. They do not identify an ITIN as a general substitute. The company must still disclose its actual beneficial owners; eligibility should be confirmed directly before applying.
What does it actually cost?
The base plan is $0 per month as of August 2026, domestic ACH and wires are free, and cards carry no annual fee. The main charge arises on cross-border operations: a 1% FX fee per transaction. The Elite plan for larger clients is marked coming soon.
How does the 5% cashback on the personal card work?
It does not yet: as of September 2026 the card has not launched — both the Flex Elite landing page and the pricing page mark it coming soon. On the announced terms the rate will be tied to the Flex Volume tier — the aggregate volume the owner's business pushes through the platform across all products — recalculated automatically each month, with no categories and no caps. Terms at launch may differ.
Who holds the money and is it insured?
Deposits are placed with partner banks: Thread Bank and Column N.A., both Member FDIC. Coverage up to $3 million is achieved through a sweep programme distributing $250 thousand per participating bank. Flex itself is a technology company without a banking licence.
How is Flex different from Ramp and Mercury?
Flex links business accounts, cards and expense functions to a separate owner-benefits layer, including the Elite card. Ramp, Mercury and other platforms use different combinations of accounts, cards, treasury and software. The relevant comparison is product-by-product, including the underlying bank and fees.