Flux

Cross border Payments infrastructure for internet businesses and…

Flux is a company in fintech based in Lagos, LA, Nigeria; LA, Nigeria, founded in 2019.

Profile

We are building Flux- Flux is a Mobile App for merchants, freelancers, regular users(P2P) to make and accept payments from their customers anywhere in the world using crypto or fiat.
We have built a mobile app that uses the merchants’ phone number, creates a wallet enabling them to receive payments in crypto or fiat without having to go to an exchange or pay expensive fees. Merchants can accept payments in crypto or in fiat.
Payments made in Crypto can easily convert into fiat due to the built in fast reconciliation and is made available for spending immediately.
Currently the vast majority merchants receive payments in crypto because of two issues (1) Paypal, Venmo, CashApp or Square to not exist in Africa and (2) the local currency fluctuates more than bitcoin due to inflation. But in order for merchants to receive money in crypto and exchange it into fiat they resort to crypto exchange apps and crypto addresses to receive payments which is a very complicated and expensive process. Merchants want to be paid quickly with the lowest amount of fees possible. This is why we are building Flux

Flux is positioned in fintech, a segment that rewards a clear, focused offering.

The business is associated with Lagos, LA, Nigeria; LA, Nigeria.

The company is listed at the Winter 2021 stage of development.

The company reports a headcount in the 8 range.

Website: iflux.app