About Flux
Flux is a company based in Lagos (Nigeria) founded in 2019 by Ben Eluan and Osezele Orukpe. It operates as a FinTech, and Freemium. Flux has raised $125 thousand across 1 funding round from investors including Y Combinator. Flux offers products and services including Flux App and Virtual Dollar Cards. Flux operates in a competitive market with competitors including Paytm, MoneyGram, OPay, Xend Finance and CarePay, among others.
- Headquarter Lagos, Nigeria
- Founders Ben Eluan, Osezele Orukpe
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$125 K (USD)
in 1 rounds
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Latest Funding Round
$125 K (USD), Seed
Jun 01, 2021
- Investors
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Employee Count
Employee Count
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Products & Services of Flux
Flux offers a comprehensive portfolio of products and services, including Flux App and Virtual Dollar Cards. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Used for sending, spending, banking, and investing securely.
Created for secure online spending on various websites.
Funding Insights of Flux
Flux has successfully raised a total of $125K through 1 strategic funding round. The most recent funding activity was a Seed round of $125 thousand completed in June 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Seed — $125,000
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First Round
First Round
(01 Jun 2021)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2021 | Amount | Seed - Flux | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Flux
Flux has secured backing from 1 investor, including venture fund investors. Prominent investors backing the company include Y Combinator. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Flux
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Flux
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Flux Comparisons
Competitors of Flux
Flux operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Paytm, MoneyGram, OPay, Xend Finance and CarePay, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Digital payments, financial services, and e-commerce platforms are provided.
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| domain | founded_year | HQ Location |
Cross-border payments are enabled via wallet solutions for consumers.
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| domain | founded_year | HQ Location |
Wallet-enabled payments are facilitated for consumers and businesses.
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| domain | founded_year | HQ Location |
DeFi savings are enabled for credit unions and cooperatives.
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| domain | founded_year | HQ Location |
Provider of a health insurance platform for global insurers
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| domain | founded_year | HQ Location |
An app-based digital wallet providing payment solutions for individuals and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about Flux
When was Flux founded?
Flux was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Where is Flux located?
Flux is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Who is the current CEO of Flux?
Ben Eluan is the current CEO of Flux. They have also founded this company.
Is Flux a funded company?
Flux is a funded company, having raised a total of $125K across 1 funding round to date. The company's 1st funding round was a Seed of $125K, raised on Jun 01, 2021.
What does Flux do?
Flux is managed as a comprehensive financial application facilitating secure transactions across over 40 countries. Services are provided for sending and receiving money instantly, creating virtual dollar cards for online spending, offering free local bank transfers, and enabling investments in cryptocurrencies and cash storage in dollars or euros. Operations are supported in multiple global markets with a focus on user security and financial freedom.
What products or services does Flux offer?
Flux offers Flux App and Virtual Dollar Cards.
Who are Flux's investors?
Flux has 1 investor. Key investors include Y Combinator.
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