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Advance
Advance, operating as Flexx Inc., is a financial technology company based in New York that specializes in providing a banking and financial-operations platform tailored for the insurance industry. The company focuses on enhancing the management of premium money flows, offering insurance organizations greater control, visibility, and compliance support. The platform includes bank-supported payment and account infrastructure designed specifically for insurance, featuring tools for premium money movement and back-office operations. Key capabilities include real-time visibility into premium balances, automated reconciliation, compliance-ready reporting, and various payment options such as bill pay and ACH. Advance also collaborates with insurance-native bookkeeping professionals to offer white-labeled back-office operations, along with AI-enabled workflows for automating invoice handling. Advance serves a range of clients, including managing general agents (MGAs), retail agencies, and wholesale brokers, aiming to modernize the handling of premium funds within the insurance sector.
Funding
Every round, secondary, debt facility or acquisition involving Advance that Lounge tracks, newest first.
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