Flux
Flux, formerly known as Blueloop, is a fintech company based in Lagos, Nigeria, specializing in payment solutions for merchants and freelancers globally, allowing transactions in both crypto and fiat currencies.
Company History
Flux, formerly known as Blueloop, launched on September 30, 2021. It is part of the Y Combinator W21 batch. Over time, Flux has specialized in creating a mobile payment application to serve a growing need in the fintech industry, especially in regions where traditional payment service providers are not available.
Industry and Sector
Flux operates within the fintech industry, focusing specifically on the payments sub-sector. The company provides solutions that facilitate both crypto and fiat transactions, targeting markets where conventional payment options are lacking. This specialization underscores Flux's commitment to addressing fintech challenges in these underserved regions.
Services and Solutions
Flux offers a mobile app tailored for merchants, freelancers, and regular users to make and accept payments worldwide using both crypto and fiat currencies. The service includes fast reconciliation features that allow crypto payments to convert into fiat quickly, enabling immediate spending. The primary aim is to offer the lowest possible fees for these transactions.
Regions and Market Focus
Flux serves customers primarily in Nigeria and the broader African region, while also offering remote services. The company targets merchants and users in areas where PayPal, Venmo, CashApp, or Square are unavailable, providing essential payment services in these underserved markets.
Locations and Team
Flux is located in Lagos, LA, Nigeria, and has a team size of 8. The company is partly remote, serving customers across Nigeria, Africa, and various remote locations. This flexible structure supports their mission to deliver payment solutions to regions with limited access to conventional services.