Flex (a fintech company transforming back office finance for business owners) and Maza (one of the largest entity formation and payments apps for Spanish-speaking solopreneurs and consumers) announce an M&A. In connection with 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.
Deal Rationale: This deal continues Flex’s broader vision to build the most comprehensive financial platform for premium business owners. Since closing the deal in Q3, Flex has already seen over 50% growth, driven by integrating Maza’s consumer growth engine, user base, and solopreneur tooling with Flex’s infrastructure and product suite.
The combined business highlights three core synergies as a consolidator, including:
1.) The absorption of Maza’s customers who qualify for Flex’s core zero-fee business banking offering
2.) 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 spend their profits
3.) 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)
A year before the deal, Maza raised an unannounced $15 million Series A to evolve the product to service its customers, starting their businesses.
Wellington led Maza’s Series A, which included participation from existing and new investors like Andreessen Horowitz (a16z), Tusk Venture Partners, and Titanium Ventures, as well as celebrities like Anderson Paak and the CEO of Amex Bank, Anre Williams.
Maza’s founders, Luciano Arango, Robbie Figueroa, and Siggy Bilstein, will take on executive roles within Flex.
KEY QUOTES:
“We noticed several customers were actually running businesses, so we began building tools to empower their operation.”
“We’re excited to empower Maza users with business financing while introducing consumer offerings for Flex business owners.”
Luciano Arango, co-founder and CEO of Maza
“Our product reduces cognitive load for entrepreneurs in anticipating spend and streamlining reconciliation, so they can focus on growth.”
Robbie Figueroa, co-founder and COO of Maza
“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.”
Zaid Rahman, Founder and CEO of Flex
“In an AI-driven world, Flex is setting the standard for what owners expect from their software. I’m excited for how Maza as a combined force is already helping accelerate that.”
Siggy Bilstein
“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 co-led an additional $10 million equity injection in the combined entity, will join the Flex board of directors as an observer.
Jackson Cummings, Head of Wellington Access Ventures
