Covington Advises Flex on $60 Million Series B Equity Financing

LOS ANGELES/PALO ALTO— Covington advised Flexbase Technologies, an AI-powered business and personal finance platform, on its $60 million Series B equity financing. The round, led by Portage Ventures, brings its total equity raised to $105 million.

Flex targets “jumbo shrimp” companies, profitable businesses with $2 million to $100 million in annual revenue, a market often overlooked by traditional fintech and regional banks. Flex combines private credit, business finance, personal finance, and payments into a unified AI-native platform. The company has seen its annualized payment volume triple to $3 billion over the past 12 months.