Flex Finance, a mobile ecosystem that enables Micro, small and medium enterprises (MSMEs) and solo entrepreneurs to effectively manage and monitor their everyday business spending and money, has secured a six-figure pre-seed fundraising round to assist its expansion in Nigeria.
Gumroad CEO Sahil Lavingia, LoftyInc Capital Management, Berrywood Capital, Paradox Capital, Kairos Angels, Brett Kopf, Julian Shapiro, Maneesh Arora, and others recently invested in the firm in a six-figure pre-seed round.
Accion Venture Lab, The MasterCard Foundation, and Catalyst Fund earlier contributed US$200,000 in equity money to Flex.
Flex is a mobile platform that enables organizations to digitize their day-to-day activities. The program has an easy-to-use user interface and necessitates little to no financial skills to utilize.
The company’s mission, which began in September 2019, is to assist Micro, small and medium enterprises (MSMEs) in becoming wiser and more lucrative.
Flex’s automatic spend management technology went live in March and has now added hundreds of companies. On a monthly, it manages millions of dollars in spending.
Flex’s CEO, Yemi Olulana, asserted that the aim of the company is to relieve African businessmen, women, and financial services teams of the strain of expense management, as the company believes that making this critical part of the business pleasingly easy can save business owners a lot of money and time while also assisting them to prosper, thereby growing their worthiness.
He also stated that the funds obtained have aided in the expansion of the company’s staff, scaling operations, and the development of additional service offerings such as electronic cards.
Don’t miss important articles during the week. Subscribe to techbuild weekly digest for updates