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Home » Flex purchases Maza, backed by A16Z, for $40 million as fintech mergers and acquisitions gain momentum.
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Flex purchases Maza, backed by A16Z, for $40 million as fintech mergers and acquisitions gain momentum.

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Flex Acquires Maza: A New Era for Small Business Financing

Flex, a startup specializing in personal financing software tailored for business owners, has recently made headlines by acquiring Maza, a financial application aimed at the Hispanic community in the United States, for $40 million. This strategic move signals a deeper commitment to serving small business owners across various sectors.

Understanding the Merger

At first glance, the merger between Flex and Maza might seem unconventional. Flex provides comprehensive software and payment infrastructure to streamline finances for business owners, while Maza empowers Spanish-speaking consumers, including immigrants, by offering services such as bank account setup and tax identification number (ITIN) provision. However, both companies share a common goal of simplifying financial processes for their users.

Common Mission and Customers

Maza discovered that many of its users were small business owners and solopreneurs. This realization prompted the company to focus on creating commercial software specifically tailored to enhance operations for their Hispanic-speaking clientele. From landscapers to cleaning services, Maza has carved out a niche that perfectly complements Flex’s offerings.

Significant Growth Figures

In an impressive demonstration of its potential, Maza reported a staggering 290% growth in revenue year-over-year in 2024, boasting a customer base of 250,000. This growth undoubtedly caught the attention of Flex, which recognized the opportunity to extend its reach within the small business sector.

The Rationale Behind the Acquisition

Luciano Arango, co-founder and CEO of Maza, noted that as both companies catered to the same clientele—business owners with specific financial needs—the distinction between their services began to blur. Flex CEO Zaid Rahman emphasized the logic in merging forces instead of building parallel products. Together, they aim to accelerate the development of solutions that truly address their users’ needs.

Changes for Maza and Future Outlook

Post-merger, Maza will be rebranded as “Flex Consumer,” and its founders, including Arango, will assume key roles within the combined organization. The goal is to create a unified financial tool that offers a comprehensive suite of solutions. Arango expressed that both companies have experienced the frustrations of fragmented financial tools firsthand, making this merger a natural progression.

Financial Backing and Industry Trends

The recent acquisition comes on the heels of a $15 million funding round for Maza, led by Wellington and supported by notable investors like Andreessen Horowitz and other venture partners. Since its inception in 2022, Maza has raised a total of $24 million in equity, while Flex has accumulated $45 million along with $300 million in credit facilities. This funding will play a crucial role in advancing their collective mission.

Conclusion: A Bright Future for Fintech

The fintech sector has seen a resurgence in mergers and acquisitions, with a reported 191 global transactions in the last quarter of 2024 alone. The Flex and Maza merger is poised to be a significant contributor to this trend, providing an integrated solution for small businesses. As the financial landscape continues to evolve, the combined company aims to lead in offering enhanced tools that support the unique needs of business owners.

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