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.


Les périodes d’instabilité et d’incertitude économiques poussent les responsables de service client à faire face à des défis inédits. Ces difficultés se divisent généralement en trois catégories : Maintenir les coûts sous contrôle et hiérarchiser les investissements S’adapter à la croissance et rechercher des moyens créatifs d’a


Les périodes d’instabilité et d’incertitude économiques poussent les responsables de service client à faire face à des défis inédits. Ces difficultés se divisent généralement en trois catégories : Maintenir les coûts sous contrôle et hiérarchiser les investissements S’adapter à la croissance et rechercher des moyens créatifs d’a

Related News


Abrigo unveils new AI-driven banking intelligence capabilities at ThinkBIG conference

PRnewswire | May 17, 2023

Abrigo, a leading provider of growth and risk management software for U.S. banks and credit unions, recently announced significant improvements to Abrigo Connect, the company's banking intelligence solution. Abrigo Connect now includes new artificial intelligence (AI) capabilities for ease of use and new role-based products to help leaders make strategic and operational decisions. The functionality was revealed at Abrigo's ThinkBIG conference in Miami last week, where 600 attendees convened for thought leadership and Abrigo product innovation. Introduced in 2020, the Abrigo Connect platform curates relevant information to quickly deliver intuitive and actionable dashboards across lending, credit risk, financial crime management, enterprise risk, and banking operations. These dashboards give financial leaders insights into institutional performance, opportunities for growth, and employee efficiency. "Banking leaders have to do more with less given the economy, and they need real-time information to optimize decisions around resources, loan growth, and risks. Abrigo Connect can close that information gap quickly, without months' long implementations or complex data stacks," explained Ravi Nemalikanti, Abrigo Chief Technology Officer. Abrigo Connect features a new user interface powered by ThoughtSpot Everywhere. It uses AI, GPT-3.5, and natural language search capabilities so bankers can find their data using the words they speak everyday – improving the speed and quality of results. "Companies that are building their businesses on data, both internally and in their offerings for customers, will realize unprecedented competitive advantages. It makes us immensely proud to be empowering a global community of data-driven companies, like Abrigo, that are using ThoughtSpot to build sticky products that deliver business impact and extend analytics to their customers that deliver a modern data experience," said Sumeet Arora, Chief Development Officer at ThoughtSpot. "Abrigo is driving innovation in the banking sector with AI-Powered analytics, and we're thrilled to be an innovation partner in differentiating their platform with a bespoke analytics experience and in delighting their end users." Abrigo supports 2,400 financial institutions through lending, portfolio risk, and financial crime management automation. Leveraging its customer network, the company has built a proprietary database of banking data for exclusive benchmarking within Abrigo Connect. While many financial institutions grapple with a talent shortage, they may also struggle to source or fund an in-house data science team. Similarly, many community institutions lack resources dedicated to data warehousing to power general business intelligence systems. Abrigo Connect uses information already flowing through the Abrigo Platform to sidestep lengthy, expensive data integration projects and yield immediate access to curated data. Later this year, Abrigo will also integrate additional data sources for richer analysis. The Abrigo Platform, including Connect, provides unlimited user access, allowing financial institutions to add users as their usage of data analytics expands. Bankers can have confidence in the security and expediency of data flows through Abrigo, knowing the company has integrated to more than 50 unique core systems across thousands of successful technology implementations. About Abrigo Abrigo is a leading provider of compliance, credit risk, lending, and asset/liability management solutions and services that help financial institutions thrive. Abrigo accelerates growth, increases client efficiency, and improves customer experience with an easy-to-use and expansive platform. We ensure customer success with our award-winning client service team, advisory expertise, and innovative technology. With a network of 2,400+ FIs, Abrigo offers unique opportunities for insightful peer benchmarks and best practices. Visit to learn more.

Read More


Alviere & Array Partner to Enable Financial Wellness and Education Tools in Enterprise Embedded Finance Platform

PRnewswire | May 26, 2023

Alviere, the leading global embedded finance platform, is proud to announce that it is partnering with Array to offer Alviere's enterprise clients customizable digital credit and identity tools to increase digital engagement, generate revenue, and help end customers own their financial future. Alviere enables enterprises worldwide to offer financial products to their customers, partners, and employees. With the Alviere HIVE technology platform, organizations can enable an extensive range of financial products including virtual bank accounts, branded cards, global money transfers, payments, and web3 services. By integrating new features from partners into its platform, Alviere HIVE provides a single, integrated platform experience under one Master Services Agreement. In addition to Array, the HIVE platform combines proprietary technology across a vast, integrated partner ecosystem that includes Atomic, Cognito, ComplyAdvantage, Mastercard, Melissa, Mitek, Moody's, Plaid, TabaPay, and Visa, among others. Many consumers want to improve their financial wellness, but don't know where to start. Through the Alviere and Array integration, credit monitoring and identity protection tools are now seamlessly integrated in an enterprise's financial experience to help keep their customers in control of their credit. This partnership with Array ensures that Alviere continually delivers on a roadmap of compelling financial wellness features that increase consumer engagement in existing apps, websites, or experiences offered by enterprise clients. "As financial technology innovators, we believe consumers should have access to their financial information when, how, and with the company they want," said Alviere co-founder and CEO, Yuval Brisker. "Alviere is excited to partner with Array to deliver on that promise with educational and revenue-driving tools to keep consumers in control of their credit and identity, whether they choose to bank with their employer or their favorite brand." "At Array, our vision is to empower every individual to own their financial future through access to the right data and tools—at the right time," said Martin Toha, Founder and CEO of Array. "Unifying financial experiences in a single digital experience has a powerful impact on consumers' day-to-day lives. We are thrilled to help Alviere and its clients build enduring trust with customers by offering streamlined financial management on the HIVE platform." About Alviere Alviere's end-to-end financial technology platform allows any organization to seamlessly embed financial products and services into existing and new offerings. Alviere's platform offers an extensive range of configurable, branded financial products and services, including current accounts, savings, card issuance, the broadest array of payment options, global money transfers, and web3 services. As the first fully regulated financial institution in the embedded finance industry, Alviere prioritizes regulatory compliance, security, and fraud prevention. To find out how Alviere can enable your business to power the financial needs and aspirations of your customers, visit About Array Array fuels financial progress for many of the world's leading fintechs, financial institutions, and digital brands with a suite of private-label fintech solutions that can be easily embedded. Array drives engagement and revenue for our clients by helping them stand out in a crowded market and forge deeper relationships with their customers. More than a suite of products, we're building a platform to help consumers own their financial future. Array was founded in 2020 by Martin Toha and Phillip Zedalis. Key investors include Battery Ventures, General Catalyst, and Nyca Partners. To learn more visit

Read More


CardX Expands Online Payment Capabilities with Mastercard Click to Pay

Businesswire | April 11, 2023

CardX, a Stax company and the leading surcharging compliance platform, has launched Mastercard Click to Pay on Lightbox, CardX’s online payment form, to expand the product’s reach. With this partnership, Click to Pay is now available for all existing and new card-not-present merchants on CardX’s platform. Given the present economic uncertainty, managing costs and optimizing approval rates is critical. Click to Pay makes the payment process as frictionless as possible for consumers, leading to higher approval rates and the potential for increased merchant sales. Lightbox enables consumers to enter their card information directly into Mastercard Click to Pay, where it is tokenized, delivering a seamless checkout experience and best-in-class data protection. “We have worked with Mastercard since the early days of CardX, and our conversations together inspired many of the innovations we launched with Lightbox,” said Jonathan Razi, chief product officer at Stax, and founder and former CEO of CardX. “I can’t think of a more fitting way to progress our partnership than to integrate Mastercard Click to Pay into Lightbox, and we look forward to offering this win-win value proposition to both merchants and consumers.” Mastercard, together with other EMVCo member brands, launched Click to Pay in the U.S. in 2019 to provide a more seamless and secure digital payment experience for ecommerce consumers. As an enhanced alternative to guest checkout, Click to Pay makes it easier for consumers to access their enrolled cards when purchasing from any ecommerce merchant or platform integrated with the solution. Click to Pay uses intelligent recognition, giving consumers quick access to their cards and associated information without the need to remember or enter a password, reducing cart abandonment. The solution also securely stores card details via tokenization, leading to higher approval rates. Since being acquired by Stax in November 2021, CardX has been instrumental in helping Stax achieve its goal to eliminate transactional friction between businesses and the customers they serve. Looking ahead to 2023, Stax will focus on further scaling the organization and expanding its operations to better serve its more than 30,000 businesses across the nation. About Stax Stax Payments is one of America's fastest-growing fintech companies, recognized by U.S. News and World Report, Inc., and Fortune for its radically simple payment technology. Stax Payments empowers more than 30,000 small businesses, large businesses, and software platforms through the industry's only all-in-one payments API. Stax's platform provides businesses and SaaS platforms the ability to manage their payment ecosystem, analyze data, and simplify their customer experience through fully integrated solutions. With access to everything they need to transact and help their customers transact seamlessly, the one-stop tool allows companies to move faster, think smarter, and make better business decisions through the power of payments. Stax has powered more than $30 billion in transactions. About CardX CardX is the market leader in compliant surcharging. The CardX payment processing platform automates compliance with the card brand rules and state laws that apply to businesses seeking to eliminate their cost of credit card processing through surcharging. As a fintech company, CardX offers best-in-class solutions for payments in all environments, all while delivering a compelling IT and process automation layer. And, as a regtech company, CardX addresses the staggering complexity of the legal and contractual requirements that apply to credit card surcharging, automating everything from consumer disclosures and card identification to refund proration and receipt management. This end-to-end, fintech-meets-regtech value proposition has established CardX as the leader in this rapidly growing space and made it the trusted name for category leaders seeking industry-best technology.

Read More