Flex, a startup offering personal financing software for business owners, has acquired Maza, a financial application addressed to Spanish speakers in the USA, for $ 40 million, TechCrunch said only.
At first glance, evaporation could seem a bit interesting. WireThe software and payment infrastructure is to assist company owners to run one application to perform all their funds. Men I started to assist Spanish consumers-in this immigrants-to do things reminiscent of opening a checking account, get a debit card and provide those that needed him an individual tax identification number (ITIN).
So how did the mission of those two firms intersect? Over time, Maza realized that many users of its applications and services were the owners of small firms or Solopreneur. Thus, the startup focused on developing business software for its Spanish -speaking customers and their small firms, occupying its activities at a technological stake. Examples included, among others, landscapes, cleansing services and building subcontractors.
In 2024, Maza said that he scaled revenues at 290% during the yr and has 250,000 customers.
The scale that Maza experienced in the Solopreneur segment was noticed by Flex, which perceived her as the gate of her own Flex offer, noticed Luciano Arango, co -founder and general director of Maza.
Over time, FLEX builds tools to operate a person.
“When both companies attracted the same user – owners of companies with the needs of consumers – the borders between them began to blur,” said the founder and general director of Flex Zaid Rahman. “Instead of building a parallel product, it was more sensible to join forces and scalp from zero to ten years.”
As a combined company, the founders hope to “speed up” their “common road map,” said Rahman.
Maza will change to a flexible consumer, and the founders of Maza – Arango, Robbie Figueroa and Siggy Bilstein – will take over the executive roles in a connected unit.
“As founders, we felt pain of crushed financial tools. Maza and Flex built from opposite ends of the same problem,” said Ango. “Connecting forces was a logical next step.”
According to Arango, Maza was natural.
“We surprised us the most, how durable the customer base became,” added Ango.
So Maza continued to build in this direction, using the income from the previously undisclosed funding round price $ 15 million, which he collected in 2024. Wellington led this round, which included the participation of existing and latest sponsors, reminiscent of Andreessen Horowitz (A16Z), Tusk Venture (*40*) and Titanium ventures, in addition to Anderson Paak singers, as well and former director of Bank Amex.
Since the creation of 2022, Maza has collected a total of 24 million dollars of equity. Flex also founded in 2022 secured USD 45 million and USD 300 million in credit facilities, and the debt only funds the offer of bank cards. Flex was priced at $ 250 million in March. Titanium Ventures led its last increase, in March an announced capital round price $ 25 million.
Ninety-five percent of the 22-person Maza team was integrated with Flex, which at the end of 2024 had 64 employees.
As a state of Venture Q1 2025, mergers and acceptance offers in the fintech sector have increased in the last two quarters report. In the fourth quarter of 2024, the sector recorded 191 global merger and acquisitions. And in the first quarter of 2025 it concerned 184 mergers and acquisition offers. In the third quarter of 2024, 143 FinTech M&A transactions were reported.
Recently Embedded Finance Platform Pipe acquired Glean.Aiwhich sold as “payable bills with the brain” for an undisclosed amount. Checkr has recently signed a final contract for obtaining Trutework, startup verification of income and employment.