Flexio Uplifts $3 Million Seed Round for Business-to-Business Payments Transformation

Flexio | February 07, 2022

The Flexio platform is becoming popular by revolutionizing business-to-business (B2B) payments in Latin America. For this cause, Flexio has uplifted the $3 Million Seed Round led by Costanoa Ventures by joining hands with Diego Oppenheimer, Latitud Fund, Soma Capital, Daniel Kahn, Omri Mor, and several other notable LatAm founders and Y Combinator alumni.

In 2014, the Mexican government approved a law requiring all B2B payments to be documented digitally in order to increase tax payments, which already existed in the plans across Latin America. According to the World Bank, in 2020, B2B electronic payments recorded $180B in transactions in Mexico alone. Currently, the process is error-prone, making compliance especially challenging for small and medium-sized businesses (SMBs). The challenges include unorganized bills, contracts, and other documents in the absence of staff or systems to manage data entry across various communication channels. These challenges lead to a lack of visibility into the flow of cash, inaccuracy of cash counts, and real-time information.

Since the news spread across the globe, Nathan Schorr, co-founder, and CEO of Flexio, came forward saying, "We experienced these challenges first-hand while building businesses in previous roles. The traditional processes are inefficient and arduous, preventing timely payments and using up valuable employee resources while also negatively impacting cash flow management."

Flexio automates accounts payable (AP) and accounts receivable (AR) for SMBs. Its automation process helps payouts, pay-ins, integrations, and communication with enterprise resource planning systems (ERPs) and accounting software function effortlessly. With Flexio, customers can reduce the time spent by 70% using AR/AP. The entire process can be achieved through a suite of:

  • A modern interface of the platform that eases the existing methods while in continuation with complying with government regulations
  • Cashflow analytics for business owners to stay updated on their companies' financial health in real-time and without any reporting lags
  • Seamless integration with bank accounts through digital payments platform instead of conventional platforms having manual logins
  • Automation of all invoicing and accounts receivable processes, including all routing, communications, and approvals

Nine billion invoices were processed in Mexico alone in 2020. By focusing on SMBs doing business in Mexico, Flexio provides a much-needed service for an underserved market. We couldn't be more eager about the Flexio team and the technology they are creating to address this huge market opportunity."

Amy Cheetham, Partner at Costanoa Ventures

Today, SMBs businesses represent 70% of the region's GDP. They also employ approximately 60%-70% of the region's workforce. Flexio's current customers are Casa Fronda, Impactum, and Grupo Promesa. Further, Flexio will initiate the automated funding process to accelerate product production to help businesses automate bill payments and invoicing.


Capital Group economist and portfolio managers discuss the factors the U.S. Federal Reserve may be considering as it decides when to raise interest rates.Capital Group is one of the world’s largest independent investment managers. Throughout our 80-year history, our aim has always been to deliver superior, consistent results for long-term investors. Investment management is our only business.


Capital Group economist and portfolio managers discuss the factors the U.S. Federal Reserve may be considering as it decides when to raise interest rates.Capital Group is one of the world’s largest independent investment managers. Throughout our 80-year history, our aim has always been to deliver superior, consistent results for long-term investors. Investment management is our only business.

Related News


Jack Henry & Associates Closes Payrailz Acquisition

Jack Henry & Associates, Inc. | September 05, 2022

Jack Henry & Associates, Inc.®m announced today that it has closed its previously announced acquisition of Payrailz, adding the company's next-generation digital payment capabilities to Jack Henry's payments ecosystem. Payrailz provides cloud-native, API-first, AI-enabled consumer and commercial digital payment solutions and experiences that enable money to be moved in the moment of need. Acquiring Payrailz supports Jack Henry's technology modernization strategy that helps banks and credit unions successfully compete with industry disruptors, innovate faster, and meet the evolving needs of consumer and commercial accountholders. This acquisition also enhances Jack Henry's payments-as-a-service (PaaS) strategy, which is a natural extension of its commitment to open banking and the ability to enable embedded finance and embedded fintech, while reinforcing the company's mission to strengthen connections between people and financial institutions through technology and services that reduce the barriers to financial health. "We are excited to close this acquisition and begin integrating Payrailz into Jack Henry, This acquisition provides our collective clients with additional functionality, optionality, and flexibility and better supports the digital and payment strategies of diverse banks and credit unions. The projected impact of this acquisition will be disclosed as part of FY23 first quarter earnings, and as a reminder, our FY23 earnings per share guidance provided in our most recent earnings press release did not include the impact of this acquisition. I'd also like to reconfirm the fiscal year guidance of $5.05 to $5.09 EPS we previously provided and to provide fiscal first quarter guidance of $1.36 to $1.38 EPS." -David Foss, Board Chair and CEO of Jack Henry Financial details and terms of the Payrailz acquisition were not disclosed. About Jack Henry & Associates, Inc.® Jack Henry™ is a well-rounded financial technology company that strengthens connections between financial institutions and the people and businesses they serve. We are an S&P 500 company that prioritizes openness, collaboration, and user centricity – offering banks and credit unions a vibrant ecosystem of internally developed modern capabilities as well as the ability to integrate with leading fintechs. For more than 45 years, Jack Henry has provided technology solutions to enable clients to innovate faster, strategically differentiate, and successfully compete while serving the evolving needs of their accountholders. We empower approximately 8,000 clients with people-inspired innovation, personal service, and insight-driven solutions that help reduce the barriers to financial health.

Read More


FIS to Modernize Real-Time Payments Infrastructure and Central Bank Digital Currencies for Countries Around the World

FIS | August 26, 2022

With real-time payments increasing, many countries must either modernize outdated payments infrastructure or build entirely new real-time payments networks to move money faster. In response, FIS® has launched its new central infrastructure payment solution, RealNet™ Central, to help central banks transform their markets to digital-first, real-time payment economies. “The global economy has rapidly shifted toward digital-first mindsets and methods. While the idea of making payments in real-time may sound simple, the reality of delivering on that promise is enormously sophisticated, especially when doing so across borders, Our latest offering sets out to change that, bringing consumers, businesses, financial institutions and governments closer together in the payments ecosystem. The launch of this solution is the latest proof point of FIS’ commitment to invest in innovative technologies and solutions that advance how the world pays.” - Aman Cheema, Head of Global Real-Time Payments and CBDCs at FIS Currently, 72 percent of the world’s population has, or will soon have, access to instant payments, according to the 2022 Worldpay from FIS Global Payments Report. Many markets are also replacing or renovating their established real-time services, especially those that repurposed their corporate real-time gross settlement (RTGS) services to cater for instant payments, such as Brazil, United Kingdom, Japan, South Africa and Mexico. Similarly, India and the U.S. are introducing additional competing services that will sit alongside the established schemes. As this shift occurs, RealNet™ Central will accelerate real-time payments adoption by connecting a country’s businesses, consumers, financial institutions and government entities to real-time networks, both domestically and internationally. FIS will also help central banks launch Central Bank Digital Currencies (CBDC). Through FIS’ CBDC Virtual Lab – created in collaboration with M10 Networks (M10) and its high-performance digital money platform – FIS will support countries’ efforts to integrate CBDCs into their economy. The CBDC Virtual Lab allows central banks, commercial banks and other financial participants to experiment with and pilot core concepts of issuance, transfer, redemption, offline payments, programmable payments, retail, wholesale and cross-border payments. FIS’ CBDC Virtual Lab is enterprise-grade technology that supports over one million transactions per second at less than a second latency. FIS has been shortlisted as a finalist on the G20 TechSprint 2022 CBDC challenge to build a prototype using the FIS Virtual Lab to demonstrate secure, resilient and effective CBDC issuance, redemption and transfer, whilst maintaining financial stability and integration with the existing payments landscape. About FIS FIS is a leading provider of technology solutions for financial institutions and businesses of all sizes and across any industry globally. We enable the movement of commerce by unlocking the financial technology that powers the world’s economy. Our employees are dedicated to advancing the way the world pays, banks and invests through our trusted innovation, system performance and flexible architecture. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index.

Read More


TD Bank Business Customers Can Now Pay their Employees in Real Time

TD Bank and DailyPay | September 14, 2022

TD Bank, America's Most Convenient Bank®, announced today the launch of a collaboration with DailyPay, a leading fintech with an innovative on-demand pay solution. This capability enables clients to give employees real-time access to earned pay prior to a scheduled payday. "Many employees wait two weeks, or even a month, for payday to come around, With current pressure from inflation and other issues, this lack of access to earned wages can put workers in a bind. Unforeseen expenses, upcoming bills and day-to-day needs do not wait for payday – and now our clients' employees don't have to." -Paul Margarites, Head of Commercial Digital Platforms for TD Bank Powered by DailyPay, the solution will empower TD clients to offer employees access to their earned pay ― whereby their funds can be deposited in their direct-deposit account and available almost as soon as they clock out of a shift. Behind the scenes, the solution connects with clients' existing payroll systems to convert their employees' time worked into net earnings. Their DailyPay Balance is available to employees anytime, anywhere through their bank account or any card they choose. They can even control the frequency of the solution and portion of their pay received. We are proud to offer this service to our customers to help them deliver a highly desirable benefit to their employees, This service is especially helpful to independent contractors looking for more immediate access to their pay,said Chris Giamo, Head of Commercial Banking at TD Bank. About TD Bank, America's Most Convenient Bank® TD Bank, America's Most Convenient Bank, is one of the 10 largest banks in the U.S., providing over 9.8 million customers with a full range of retail, small business and commercial banking products and services at more than 1,100 convenient locations throughout the Northeast, Mid-Atlantic, Metro D.C., the Carolinas and Florida. In addition, TD Auto Finance, a division of TD Bank, N.A., offers vehicle financing and dealer commercial services. TD Bank and its subsidiaries also offer customized private banking and wealth management services through TD Wealth®. TD Bank is headquartered in Cherry Hill, N.J. To learn more, visit Find TD Bank on Facebook at and on Twitter at and TD Bank, America's Most Convenient Bank, is a member of TD Bank Group and a subsidiary of The Toronto-Dominion Bank of Toronto, Canada, a top 10 financial services company in North America. The Toronto-Dominion Bank trades on the New York and Toronto stock exchanges under the ticker symbol "TD". About DailyPay DailyPay, powered by its industry-leading technology platform, is on a mission to build a new financial system for everyone. DailyPay delivers the industry's leading on-demand pay solution with modern, insight-driven pay strategies that help America's leading employers to activate their workforce and build stronger relationships with their employees so they feel more engaged, work harder, and stay longer. Through its massive data network, proprietary funding model and connections into over 6,000 endpoints in the banking system, DailyPay works to ensure that money is always in the right place at the right time for employers. DailyPay is headquartered in New York City, with operations based in Minneapolis.

Read More