Flex, the fintech company enhancing back office finance for ambitious business owners, and Maza, one of the largest entity formation and payments apps for Spanish-speaking solopreneurs and consumers, announce their M&A.
As part of the deal, Maza will rebrand as Flex Consumer, “a new arm within Flex focused on enabling business owners to manage their commingled personal and business finances.”
This transaction marks a continuation of Flex’s vision to “build the most comprehensive financial platform for premium business owners.”
Flex has seen over 50% growth since closing the deal in Q3, “driven by integrating Maza’s consumer growth engine, user base and solopreneur tooling with Flex’s infrastructure and product suite.”
A year prior to the M&A, Maza raised “an unannounced $15M Series A to evolve the product to service its customers who were starting their own businesses.”
The company partnered with solopreneurs using LLM-powered automation to simplify entity formation and “created a unified ledger that proactively categorized consumer and solopreneur transactions.”
Maza’s Series A was led by Wellington, with “participation from existing and new investors like Andreessen Horowitz (a16z), Tusk Venture Partners, and Titanium Ventures, as well as celebrities like Anderson Paak and CEO of Amex Bank, Anre Williams.”
Zaid Rahman, Founder and CEO of Flex said:
“Maza was building the best onramp for ambitious business owners to start businesses and a suite of consumer fintech products. Flex strategically bridges both the business and consumer use cases in a cohesive all in one finance platform for business owners by combining the Flex and Maza products.”
Proceeding Maza’s fundraise and scale of its consumer and solopreneur base, Flex and Maza began “discussing a potential collaboration.”
The companies entered into an agreement to “join their platforms and accelerate Flex’s development of owner-owned software for individuals and their businesses.”
The combined business highlights core synergies as a consolidator, including:
- The absorption of Maza’s customers who qualify for Flex’s core zero fee business banking offering
- TAM expansion via new customers on-ramping from Maza’s entity formation product, enabling Flex to offer business owners financial products from the time they start their journey to the time they personally spend their profits
- Flex consumer product expansion and go-to-market foundation for millions of business owners using personal cards for business transactions (estimated to be 65M consumers globally per Visa)
Post closing, Maza will operate as Flex Consumer and Maza’s founders, Luciano Arango, Robbie Figueroa, and Siggy Bilstein, “will take on executive roles within Flex.”
Jackson Cummings, Head of Wellington Access Ventures said:
“We’re looking forward to continuing our partnership with Maza’s talented team as they accelerate Flex’s ambitious vision. The post-M&A growth of Flex underscores the considerable potential of integrating consumer and business services into a single platform.”
Cummings, an existing investor in Maza who reportedly co-led an additional $10M equity injection in the combined entity, will “join the Flex board of directors as an observer.”