Flex, a startup that provides personal financial software for business owners, has acquired Maza, a financial app aimed at US Spanish speakers, for $40 million.
At first glance, pairings may seem a little curious. Flex’s software and payment infrastructure is to help business owners have a single app to carry out all their finances. Maza has begun to support Spanish-speaking consumers, including immigrants – opening a bank account, obtaining a debit card, and providing individual tax identification numbers (ITINs) to those who need it.
So how did the missions of these two companies intersect? Over time, Maza realized that many of the app and service users are actually small business owners or solopreneurs. That’s why startups are running a portion of their business in their technology stack, focusing on developing business software for Spanish-speaking customers and small businesses. Examples include landings, cleaning services, construction subcontractors and more.
In 2024, Maza said it was making revenues at a growth rate of 290% year-on-year and had 250,000 customers.
The scale that Maza experienced in the Solapreneur segment attracted Flex’s attention. This was considered a gateway to offer by Flex itself.
Over time, Flex has been building tools to serve the people behind their business.
“The line between the two began to blur as both companies were drawn to the same users (business owners with consumer needs),” said Zaid Rahman, founder and CEO of Flex. “It makes more sense to combine power and scale from zero to ten years, rather than building parallel products.”
As a total company, founders hope to “accelerate” their “sharing roadmap,” Rahman said.
Maza has rebranded as Flex Consumer, and Maza founders Arango, Robbie Figueroa and Siggy Bilstein will assume the executive role within the combined entities.
“As founders, we felt the pain of fragmented financial tools. Maza and Flex were building from the other side of the same issue,” Alango said. “Together was the logical next step.”
According to Alango, Maza’s pivot was natural.
“What surprised us most was how durable our customer base was,” Alango added.
So Maza continued to build in that direction using the revenue from the previously undisclosed $15 million Series A round of funding raised in 2024. Wellington led that round, including participation from existing and newbackers such as Andreesen Horowitz (A16Z), task venture partners, and titanium ventures.
Since its launch in 2022, Maza has raised a total of $24 million in stock. Additionally, Flex, founded in 2022, has secured $45 million in shares and $300 million in credit facilities in debt, funding solely with credit card offerings. Flex was valued at $250 million as of March. Titanium Venture led its final salary increase and announced a $25 million stock round in March.
95% of Maza’s 22-person team was merged with Flex, with 64 employees at the end of 2024.
According to the CB Insights State of Venture 2025 report, merger transactions in the Fintech sector have been featured in the past two quarters. In the fourth quarter of 2024, the sector saw 191 global M&A transactions. And in the first quarter of 2025, we saw 184 M&A deals. In contrast, 143 Fintech M&A transactions were reported in the third quarter of 2024.
More recently, the Embedded Financial Platform Pipe has acquired Glean.ai. It was sold as a “brain-paid account” for a private amount. CHECKR has also recently signed a decisive agreement to acquire a true work, income and employment verification startup.