Halo Fund leads $70M investment into AI-Native Private Banking Platform Flex to accelerate the launch of Flex Global

Sa F a cisco, CA, July 14, 2026 (GLOBE NEWSWIRE) — Flex today a ou ced a $70 millio Se ies B1, led by Rya Smith a d Rya Swee ey’s Halo Fu d with pa ticipatio f om Po tage Ve tu es, Welli gto , C ossli k Capital, 53 Statio s, Tita ium Ve tu es, Spice, Flo ida Fu de s, Spice, a d othe s. The ou d comes just mo ths afte the compa y’s $60 millio Se ies B i Decembe 2025. A ualized eve ue i c eased 3x si ce the as Flex accele ated p ivate ba ki g fo high- et-wo th busi ess ow e s globally.

Flex: you whole fi a cial life i o e seamless platfo m.

Halo Fu d, co-fou ded by Utah Jazz a d Utah Mammoth ow e a d Qualt ics fou de Rya Smith a d Accel ge e al pa t e Rya Swee ey, b i gs a spo ts a d e te tai me t platfo m spa i g the NBA, NHL, a d Fo mula 1. Fo Flex, the pa t e ship pai s i stitutio al depth with dist ibutio i to audie ces that i clude millio s of successful middle-ma ket busi ess ow e s a d e t ep e eu s, ofte i commu ities fa beyo d Silico Valley, the exact custome s Flex Global is built to se ve.

Flex: fo the busi ess ow e with bou dless ambitio .

With this ou d, Flex has ow aised $180 millio i total equity a d $300 millio i total debt fo expa sio ac oss busi ess fi a ce, pe so al fi a ce, payme ts, p ivate c edit, a d ERP. Flex will double the team size f om 110 employees today to mo e tha 200 by yea -e d.

“Middle-ma ket busi ess ow e s a e o e of the most impo ta t a d u de se ved custome s i fi a ce globally,” said Zaid Rahma , CEO a d Fou de of Flex. “Depe di g o the type of ow e , they’ll tell you thei ve do s a e sp ead ac oss the US, Pola d, B azil, etc; thei accou ts hold cu e cy outside of just USD; a d they have to oscillate ac oss 2-3 ve do s a d laye s of fees just to do busi ess outside thei cou t y.” 

Flex Global: O e p oduct, eve y ba ki g eed.

Silico Valley built fi a cial softwa e fo compa ies, a d it built fi a cial softwa e fo co sume s. It la gely missed the people who a e both. I the US alo e, oughly 350,000 high- et-wo th busi ess ow e s help d ive 40% of p ivate-secto pay oll, yet most still u thei fi a cial lives th ough tools that t eat the busi ess a d the ow e as two sepa ate wo lds. Globally, a estimated 3 millio such ow e s sit at the ce te of a mea i gful sha e of p ivate eco omic activity a d ea ly all of them a e multi-e tity, multi-cu e cy, a d multi-ju isdictio by default.

Rya Smith, co-fou de of Halo Fu d a d ow e of the Utah Jazz a d Utah Mammoth, led the ou d as a st ategic i vesto a d comme ted: “I’ve spe t my ca ee helpi g e t ep e eu s wi , a d they all have the same p oblem: thei busi ess a d pe so al fi a cial lives a e completely i te twi ed, but eve y ba k t eats them as two diffe e t custome s, missi g what they’ e actually t yi g to build. Flex is the fi st team c eati g a eal p ivate ba k a ou d the ow e a d the e ti e household’s fi a ces, a d the gap they’ e filli g is just as eal globally as it is i the US. Zaid a d the team have built a e du i g busi ess that is becomi g a i stitutio fo the wo ld’s most ambitious ow e s.”

A busi ess built fo global ow e sThe high- et-wo th busi ess ow e a ely ope ates i a si gle cou t y o a si gle cu e cy. Today, Flex is lau chi g Flex Global. Buildi g fi a cial i f ast uctu e fo that eality:

• Stablecoi payme t ails a d wallets i 100+ cou t ies, settli g c oss-bo de payme ts i mi utes
• I stitutio al USD accou ts fo fo eig busi ess ow e s who eed access to the wo ld’s ese ve cu e cy
• Multi-cu e cy accou ts ac oss 76 cou t ies, suppo ti g 32 cu e cies f om USD to RMB to INR to MXN, so ow e s ca hold, se d, a d eceive i the cu e cies they actually ope ate i
• P ivate c edit solutio s i 20+ cou t ies, exte di g Flex’s u de w iti g well beyo d US bo de s
• Ca ds issued to busi esses ope ati g globally, spa i g e tities a d geog aphies u de o e platfo m

The esult is a si gle fi a cial home that follows the ow e whe eve thei busi ess takes them.

Flex Stablecoi s:  Dolla s that move at the speed of the i te et.

The compa y today

• Flex has c ossed $10 billio i a ualized total payme t volume, g owi g oughly 4x yea -ove -yea at a i e-figu e a ualized eve ue u ate
• The ave age Flex custome ow uses fou o mo e p oducts o the platfo m, a sig al of the compou di g elatio ship Flex is built to c eate, whe e each p oduct deepe s the value of the ext
• Flex’s th ee la gest busi ess catego ies by logo cou t a e co st uctio , wholesale, a d multi atio al busi esses

Why owFo two decades, fi tech se ved two ma kets: mass-ma ket ba ki g fo co sume s, a d co po ate wo kflows fo ve tu e-backed sta tups a d la ge e te p ises. It la gely bypassed the high- et-wo th busi ess ow e , who ope ates ac oss multiple e tities, cu e cies, a d ju isdictio s, because the ails to se ve them globally did ‘t exist. Ove the past eightee mo ths, they a ived. Stablecoi legislatio i the US a d Eu ope made the ails e te p ise- eady, the wo ld’s la gest payme t etwo ks moved f om pilots to p oductio , a d Visa’s stablecoi settleme t volume eached a multibillio -dolla a ualized u ate. Real-eco omy stablecoi payme t volume oughly doubled i 2025, the majo ity of it B2B.

Flex’s bet is that the wi e s of this shift wo ’t be the compa ies that make ow e s thi k about stablecoi s, they’ll be the o es that make the ails i visible. Flex Global embeds stablecoi settleme t u de eath a full p ivate-ba ki g elatio ship: a ow e pays a ve do i Wa saw o Mexico City the way they’d pay o e i Dallas, with AI helpi g them make decisio s ac oss thei e ti e bala ce sheet. The custome eve touches a wallet; thei mo ey simply moves i mi utes.

What Flex is buildi gFlex is the AI- ative p ivate ba ki g platfo m fo high- et-wo th busi ess ow e s i the middle ma ket globally, built a ou d five pilla s: p ivate c edit, a busi ess-fi a ce stack, a pe so al-fi a ce stack, payme ts, a d a age tic back office fi a ce ope ati g system built fo middle-ma ket compa ies. Today the platfo m b i gs togethe c edit, ba ki g, payme t p ocessi g, bill pay, expe se ma ageme t, t easu y, a d e te p ise fi a ce AI age ts i cludi g Beaco AI. Ove time, Flex pla s to expa d its global ba ki g, pe so al c edit a d ewa ds ca ds, t easu y, t avel, a d mo tgage offe i gs.

Media images ca be fou d he e. 

About Flex Lau ched i 2023, Flex is the AI- ative p ivate ba k fo high- et-wo th busi ess ow e s i the middle ma ket, built o a five-pilla st ategy spa i g p ivate c edit, busi ess fi a ce, pe so al fi a ce, payme ts, a d ERP. Flex suppo ts eve y step of a ow e ‘s fi a cial life, f om the mome t they ea eve ue to the mome t they spe d it pe so ally. Visit www.flex.o e.

About Halo Fu dHalo Fu d is a i vestme t platfo m dedicated to fueli g the g owth of high-pote tial busi esses. The fu d helps compa ies accele ate by p ovidi g access to the a e as whe e atte tio a d adoptio scale fastest: the co ve ge ce of tech ology, spo ts, a d e te tai me t. Fou ded by Rya Smith a d Rya Swee ey, d awi g o thei expe ie ce at Qualt ics, Accel, the Utah Jazz, a d the Utah Mammoth, the team b i gs decades of combi ed expe tise as ope ato s a d i vesto s i tech ology. This pe spective positio s Halo Fu d to guide compa ies th ough today’s apidly shifti g busi ess la dscape. At its co e, Halo Fu d is built o a simple co victio : the d ive s of sustai able g owth have cha ged. Capital a d co ectio s alo e a e o lo ge e ough. Success ow depe ds o ha essi g cultu al mome tum to b eak th ough ba ie s, defi e ma kets, a d e gage di ectly with the audie ces that matte most. By pa t e i g with visio a y fou de s a d high-g owth compa ies, Halo Fu d helps po tfolio busi esses captu e atte tio , accele ate adoptio , a d scale with impact i a i c easi gly dy amic ma ket e vi o me t. Fo mo e i fo matio , visit halofu d.com o follow o X @halo_fu d.