INSUBCONTINENT EXCLUSIVE:
Flex, a startup that offers personal finance software for business owners, has acquired Maza, a finance app aimed at Spanish speakers in the
United States , for $40 million, the companies told A Technology NewsRoom exclusively.At first glance, the pairing may seem a bit curious
provide those who needed it with an individual tax identification number (ITIN).So how did the mission of these two companies intersect?
Over time, Maza realized that many of the users of its app and services were actually small business owners, or solopreneurs
So the startup focused on developing business software for its Spanish-speaking customers and their small businesses, running part of their
operations on its tech stack
at a 290% year-over-year growth rate and had 250,000 customers.The scale that Maza experienced in the solopreneur segment caught the
Series A round of funding that it raised in 2024
Wellington led that round, which included participation from existing and new backers such as Andreessen Horowitz (a16z), Tusk Venture
Maza has raised a total of $24 million in equity
Also founded in 2022, Flex has secured $45 million in equity and $300 million in credit facilities with the debt exclusively funding its
Flex was valued at $250 million as of March
integrated into Flex, which had 64 employees at the end of 2024.Merger-and-acquisition deals in the fintech sector have picked up in the
In the fourth quarter of 2024, the sector saw 191 global M-A transactions
And in the first quarter of 2025, it saw 184 M-A deals
By contrast, there were 143 fintech M-A deals reported in the third quarter of 2024.More recently, embedded finance platform Pipe acquired
Checkr also recently signed a definitive agreement to acquire Truework, an income and employment verification startup.
