Flex Doubles Its Valuation in Just 7 Months
Hey Digital Banking Fanatic!
Building a digital bank is one thing. Doubling your valuation in just seven months is something else.
That's exactly what Flex has done.
The company has raised a new $70 million funding round at a $1.2 billion valuation, fueled by rapid revenue growth and an ambitious strategy that combines private banking, AI, and stablecoin-powered global banking for business owners operating across multiple countries.
It's another reminder that the next generation of digital banks is no longer competing on checking accounts alone. They're building financial platforms designed around globally connected entrepreneurs, cross-border businesses, and increasingly programmable money.
Another story attracting attention today is Klarna, after Dutch consumer groups announced plans for a €500M+ mass claim against the company. Klarna strongly rejects the allegations, making this a case worth watching as the debate around BNPL regulation in Europe continues to intensify.
There's much more waiting below.
As always, you'll also find why Nubank and Revolut now serve more customers combined than Bank of America and JPMorgan Chase, and what that says about how quickly digital banking is reshaping the global competitive landscape.
See what else is shaping Digital Banking. 👇 See you tomorrow!
Cheers,
INSIGHTS
📈 Nubank + Revolut now have 42 million more customers combined than Bank of America and JPMorganChase 🤯
NEWS
🇺🇸 Flex doubles valuation to $1.2B in 6 months as $70M Series B1 backs global private banking push for middle-market owners. Flex plans to use the new funds to double its staff from 110 to over 200 by the end of the year and to expand into business finance, personal finance, payments, private credit, and ERP.
🇪🇸 Revolut surpasses 120 ATMs in Spain one year after its launch. In addition to bringing the 100% digital experience to the physical environment, these terminals allow customers to withdraw cash without additional fees and apply the same competitive exchange rates as the app.
🇮🇪 Revolut rebrands as Revolut Bank in Ireland to encourage users to deposit salaries. The company said the rebrand is designed to remove any ambiguity and assure users that their funds and savings balances are backed by the same levels of protection as legacy banks under the European Deposit Guarantee Scheme.
🌍 N26 evolves its leadership bench with the two new appointments. The bank has appointed Nathalie Picquot as Chief Growth and Marketing Officer to lead the digital bank's brand, customer growth, and engagement across Europe, and Marcin Pakulnicki as Chief Technology Officer, where he will oversee N26's technology organization and drive the scalability, resilience, and AI-powered evolution of its banking platform.
🌍 ECB selects 36 payment service providers to join the digital euro pilot. The pilot aims to support the ongoing preparatory work for the potential issuance of a digital euro and is due to start during the second half of 2027 for a period of 12 months.
🇺🇸 Klarna plans a new buy-now-pay-later SRT as it targets US growth. Klarna is reportedly preparing a significant risk transfer (SRT) transaction backed by approximately SEK 5 billion ($516 million) in buy now, pay later loans. The deal is expected to free up capital to support the company's international expansion.
🇺🇸 Finexio founder Ernest Rolfson steps down as CEO. Co-founder Chris Wyatt will serve as interim CEO, while Rolfson joins Fern Capital to focus on FinTech M&A, investment and strategic advisory. Read more
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