Flux built a technology platform that delivers itemised digital receipts by bridging data captured by merchants’ POS systems and what appears on bank statements and mobile apps. The platform also powers loyalty schemes, card-linked offers, and gives merchants deeper POS analytics through aggregated and anonymised consumer-behaviour data. Flux is available through Barclays (via Barclays Launchpad), challenger bank Starling, and a small Monzo alpha group, with merchant partners including Costa Coffee, EAT, pod, itsu and recently Pure. The company was founded in 2016 by former early employees of Revolut and is based in London. Flux recently raised $7.5M in a Series A to accelerate scaling. It plans to go fully live across large U.K. retail banks, ramp up live merchants, expand to its first international market, and hire engineers to scale its real-time data platform. Flux builds a platform that bridges itemised point-of-sale receipt data and bank transaction records to deliver real-time digital receipts, VAT/item detail, and loyalty stamps inside banking apps. The company has a native integration with Starling Bank’s Marketplace that sends real-time itemised receipts to the Starling app when customers pay with their Starling card at Flux-supported merchants. Flux’s retail partnerships include all 111 EAT stores in the U.K. and Bel-Air. As early as next week Flux will enable Starling users to receive automated loyalty points with cash-back for supported purchases. Flux originally launched a limited pilot with Monzo that restricted the number of users and used website-based onboarding. The company was founded by Tom Reay, Matty Cusden-Ross, and Veronique Barbosa, all former early employees at Revolut.

Total raised

$9M

Funding rounds

2

Latest round

Series A

Latest activity

Dec 2018