Flex, a startup providing personal finance software for business owners, has acquired Maza, a finance application designed for Spanish-speaking users, for $40 million, according to information obtained exclusively by TechCrunch.
Initially, the partnership may appear perplexing. Flex aims to offer comprehensive financial solutions to business owners through a single platform, while Maza was initially focused on assisting Spanish-speaking consumers, including immigrants, with essential financial services such as opening bank accounts and obtaining debit cards.
However, Maza discovered that many of its users were actually small business owners and solopreneurs, which led the app to pivot towards developing business-oriented software for its target audience, incorporating services for various trades including landscaping, cleaning, and construction.
Maza’s substantial growth in the solopreneur market—achieving a remarkable 290% year-on-year revenue increase and reaching 250,000 customers—caught the attention of Flex. Luciano Arango, co-founder and CEO of Maza, noted that this growth presented an opportunity for Flex to expand its offerings. Both companies began focusing on a shared user base: business owners with personal financial needs, creating an overlap that made a merger advantageous.
“They both were addressing the same underlying issue with their users,” said Zaid Rahman, founder and CEO of Flex. Consequently, it made more strategic sense to merge rather than maintain parallel products. This collaboration aims to accelerate their unified vision and strategy moving forward.
Under the new structure, Maza will rebrand as Flex Consumer, and its founders will take on executive roles within the merged entity. Arango expressed that the integration was a logical step, as both companies were facing similar challenges regarding fragmented financial tools.
Maza’s transition reflects an organic evolution, driven by the strong loyalty of its customer base. Following a previously undisclosed $15 million Series A funding round in 2024, which was led by Wellington and included high-profile backers such as Andreessen Horowitz, Maza continued to expand its business model, raising a total of $24 million since its inception in 2022.
Flex, founded in the same year, has successfully raised $45 million in equity and secured a $300 million credit facility for its credit card services. With a valuation of $250 million as of March, Flex’s growth trajectory has been promising.
The merger is indicative of a broader trend in the fintech industry, where mergers and acquisitions are on the rise. According to CB Insights, there were 191 M&A transactions in the fintech sector in the last quarter of 2024, followed by 184 transactions in the first quarter of 2025, a notable increase compared to earlier quarters.
In summary, the merger between Flex and Maza is set to strategically benefit both companies by leveraging their respective strengths and shared vision, ultimately aiming to provide better financial solutions for business owners.
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