The Mexican fintech Flexio announced a $3M seed funding round led by Costanoa Ventures and Soma Capital. Angel investors Omri Mor, Diego Oppenheimer, Dan Kahn, and other also participated in the round.
Flexio is a B2B payments platform that provides a rapid and easy-to-use service for managing cash flow. The platform allows companies to manage employee wages, monitor overall finances, and reduce money losses.
“At Flexio, we want to give companies power over their finances by creating the most simple, efficient, trustworthy, and easy-to-use tool available,” says the fintech.
Co-founders Nathan Schorr, Andrés Hernández and Juan Manuel Sobral experienced first-hand the difficulty of managing a company’s finance. They would spend up to 35 hours a month balancing the books. Currently in Mexico, processing just one payment can take up to 14 minutes, which adds up to a lot of wasted time for growing companies.
They created the fintech Flexio to help solve these problems and provide entrepreneurs with a user-friendly payments solution.
With Flexio, companies can set up certain processes to be automated, such as employee payments or other bills. The platform provides one centralised dashboard where companies can easily track expenses vs income, helping to ensure better revenue management.
Nathan Schorr shared with Latamlist some of Flexio’s plans going forward: “This is our first step raising our seed round, which has helped us build our team, we will be reaching about 30 people within the next few months, and also push forward our platform, hoping it evolves through customer discovery and product development so we can build that world-class B2B payments platform for the region”