A Nigerian fintech startup, Flex Finance, a mobile ecosystem that helps MSMEs and solo entrepreneurs better manage and track their daily business spending and finances, anounces her raising of pre-seed fundraising round to support its growth in Nigeria.
What is Flex Finance?
This Fintech growing startup, Flex Finance is a mobile platform that allows organizations to digitize their day-to-day operations. The program has an easy-to-use user interface and requires little to no financial knowledge to utilize. The company’s mission, which began in September 2019, is to assist MSMEs in becoming smarter and more lucrative.
What do they do?
Flax as it is shortly called helps to streamline your approval process and save hours with automatic disbursements. The mobile platform is built with four major cores in mind which are Simplicity, Automation, Smart Budgeting and Security. Among all features of Flex finance is making seamless single transfers and even multiple transfers to up to 1000 people at once with cheaper transaction fees.
How does Flex Finance Works?
This Fintech handy tool helps get rid of messy paper trails with our automated expense reports that make sure every money spent is accounted for. Also, ensure that your accounting departments and finance teams are more effective and that your financial house is in order.
You should probably optimize your company’s requisition process to the efficiency you have always dreamed of. With Flex you can make your company spend smarter and showcase your forward-thinking prowess and stand out among your peers.
Flex Finance raises Pre-Seed Fund for Expansion
Flex’s automatic spend management technology went live in March and has now onboarded hundreds of companies. On a monthly basis, it processes millions of dollars in spending.
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 startup in a six-figure pre-seed round. Accion Venture Lab, The MasterCard Foundation, and Catalyst Fund previously contributed $200,000 in undiluted funding to Flex.
“The goal is to free business owners and finance teams in Africa from the stress of spend management, because we believe that making this crucial aspect of business delightfully simple, can save businesses lots of money and time, inadvertently helping them grow and succeed thereby increasing their creditworthiness,” said Yemi Olulana, the startup’s CEO.
“This funding received has so far helped to expand the company’s manpower, scale operations, and will help with the launch of our new product offerings like virtual cards.”
In conclusion, the african entrepreneurship and startup space is rapidly growing and every one is bringing their ideas live now that their are lots of ready investors to help your business scale, why waiting and not bring yours too to limelight? Comment down below or reach hout to out team via the contact form to get help take next step in your startup.
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