Flex, a fintech company helping business owners automate back-office operations, has acquired Maza, a Spanish-language fintech app, in a $40 million deal. As part of the acquisition, Maza will rebrand as Flex Consumer, a new division focused on helping business owners manage their personal and business finances more effectively. Maza’s founders — Luciano Arango, Robbie Figueroa, and Siggy Bilstein — will lead the new arm.
Launched in 2022, Maza originally helped Spanish speakers in the US access basic financial services such as bank accounts and debit cards. However, as the company grew, it found that many users were small business owners or solopreneurs. In response, Maza began building tools for entity formation, financial management, and payments — a shift that eventually led to collaboration talks with Flex.
Flex, known for its finance super app approach, bundles various financial services to give businesses seamless control over operations. The merger between Flex and Maza will accelerate Flex’s development of owner-owned software, combining consumer and business financial management into one platform.
The acquisition also comes with an additional $10 million investment from Wellington, which had earlier led a $15 million Series A round in Maza.
Zaid Rahman, CEO of Flex, says: “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.”