Business finance platform Flex secures $25m equity round and $200m credit facility
Titanium Ventures led the equity round, while Victory Park Capital provided the credit facility.
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Titanium Ventures led the equity round, while Victory Park Capital provided the credit facility.
Along with the funding, Flex has also launched its finance app catering to underserved small business owners.
FLEX is a credit union core system processor based in Utah, US.
Another 12 credit unions are scheduled to go live with FLEX’s core processing tech in 2021.
Flex promises money management and savings tips for users.
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14 new credit unions signed, and nine go live with FLEX’s core processing tech.
US-based core processor FLEX also finished 2017 with the conversion of eight credit unions onto its tech.
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Two small credit unions in the US state of Connecticut – East Hartford Federal Credit Union and America’s First Network Credit Union – have implemented a centralised core banking platform as part of their merger.
Wellspring Credit Union, a $48 million entity in the US state of Texas, has gone live with a new core processing system supplied by Utah-based tech developer FLEX.
Two small credit unions in the US state of Maryland, Perry Point Federal Credit Union and Central Credit Union of Maryland (CCUMD) have merged.
US-based tech provider FLEX has moved eight credit unions to its core processing software over the last year and made inroads “into the warmer climes of Hawaii”.