A multi-phase hybrid DC-DC converter using a switched-capacitor technique is described. The multi-phase hybrid converter can reduce the volt-seconds on the inductors of the converter, which can allow for a reduction in the size of the inductors. In addition, the multi-phase hybrid converter can utilize inductors as current sources to charge and discharge the flying capacitors, which can reduce the size of the mid capacitor and increase solution density. Because charging and discharging are performed by inductors, the multi-phase hybrid converter can eliminate the capacitor-to-capacitor charge transfer. As such, the multi-phase hybrid converter does not need high capacitance to achieve high efficiency operation, which can further increase solution density.