Funding
FlexM Secures Series A From Singapore's 24 Hermes VCC, Which Takes 10% Equity Stake
By News Desk ·
Key takeaways
- FlexM secured Series A funding from Singapore-based 24 Hermes VCC, which took a 10% equity stake and becomes its joint-venture partner for planned payment and digital-asset operations in Dubai and India.
- FlexM expects annual growth of 200% in global cross-border payment corridors and is applying for licences in the UAE and India.
- FlexM's funding rounds on record number six, including a $12.5 million corporate round in April 2024 led by 6G Digital Sweden.
FlexM has secured Series A funding from Singapore-based 24 Hermes VCC, which is taking a 10% equity stake in the company, according to EIN Presswire. The company said it considers itself fully funded for its current operating and expansion plans and expects annual growth of 200% in global cross-border payment corridors.
FlexM's Series A and the 24 Hermes VCC Stake
FlexM said the investment funds its next growth phase as it expands its payment infrastructure across four international hubs. The company will focus on scaling its payment, remittance and compliance technology across some of the world's largest financial markets.
24 Hermes VCC (Hermes III) will become FlexM's joint-venture partner for planned payment and digital-asset operations in Dubai and India. Under the agreement, the partner will fund agreed licensing costs and contribute working capital. FlexM said the investors are expected to contribute transaction volume and market access, offering an entry point into global e-commerce and trading.
"Companies don't want five different systems to solve five different parts of the same problem," said Naveed Weldon, CEO and Co-Founder of FlexM. "They want to move money across borders quickly, understand exactly what it costs, maintain control over their transactions and know that the compliance layer is built into the infrastructure."
Amul Shah, Fund Manager at 24 Hermes VCC, said the fund sees FlexM as a highly interesting company holding payment licences in Singapore and Canada, with licence applications under way in the UAE and India. Rune Nilsson, Executive Chairman and Founder of FlexM, said the financing was about industrial partners who can help create business, transaction volume and access to new markets.
FlexM's FlexBiz platform lets businesses manage multi-currency accounts and domestic and international payments in one place, while FlexComply brings customer onboarding, KYC/KYB, identity verification, sanctions and PEP screening, risk scoring, transaction monitoring and regulatory reporting into one system.
FlexM's Funding History and Platform Scale
FlexM's funding rounds on record number six, according to akta.pro company records. In October 2025, Chinese e-commerce firm Torkey Times Technology, with 2024 revenues exceeding USD 2.5 billion, made a strategic investment in FlexM and became one of its top three shareholders. The same records list a $12.5 million corporate round in April 2024 led by 6G Digital Sweden, a $1.7 million seed in July 2021 and a $2.1 million seed in October 2019.
| Funding round | Date | Amount | Lead investor |
|---|---|---|---|
| Seed | October 2019 | $2.1 million | Not stated |
| Seed | July 2021 | $1.7 million | Not stated |
| Corporate | April 2024 | $12.5 million | 6G Digital Sweden |
| Corporate | October 2025 | Not stated | Torkey Times Technology |
The same records show FlexM is trusted by more than 400 businesses globally and has expanded its presence to more than 6 countries across Asia, the Middle East, Africa, North America and Europe. FlexM's FlexComply delivers a 70% reduction in AML false positives, the records state.
FlexM's Licence Applications in the UAE and India
FlexM said licence applications are under way in the UAE and India. The company is regulated by the Monetary Authority of Singapore as a Major Payment Institution and by FINTRAC in Canada, and was founded in Singapore in 2015.