Fundraising Fox
Flux
YC W21Lagos, NG · Founded 2020 · 8 employees · 17 known investors
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Flux is a mobile financial app that enables users to send and receive money instantly across 40+ countries, create virtual dollar cards for online spending, and manage savings in multiple currencies. The platform serves individuals globally seeking free international transfers, online payments, and cryptocurrency trading through a single application.
Also known as Blueloop, Inc. · Blueloop · Flux App · ifluxdotapp
Founders & leadership· Y Combinator alumni (W21)
Flux was founded in 2020 by Ben Eluan, Israel Akintunde, and Osezele Orukpe.
Investors · 17
How we know: Flori Ventures's portfolio page · the VCSheet dataset · Y Combinator's founder network · Not right? Tell us
How we know: the Y Combinator directory · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: finance.yahoo.com · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: funding news · finance.yahoo.com · Not right? Tell us
How we know: funding news · askflux.ai · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: askflux.ai · open dataset · 5k.vc investor directory · Not right? Tell us
How we know: Y Combinator's founder network · Not right? Tell us
How we know: Y Combinator's founder network · Not right? Tell us
How we know: Y Combinator's founder network · Not right? Tell us
How we know: finance.yahoo.com · Not right? Tell us
How we know: Y Combinator's founder network · Not right? Tell us
How we know: open dataset · 5k.vc investor directory · Not right? Tell us
How we know: open dataset · 5k.vc investor directory · Not right? Tell us
How we know: open dataset · 5k.vc investor directory · Not right? Tell us
How we know: funding news · askflux.ai · Not right? Tell us
Also in the syndicate · 1
Funding
SEC filings, press & company announcements$59M disclosed across 3 rounds · 2026
- $5MraisedJun 2026 · 3 sources
Calibrate Ventures (lead), Glasswing Ventures, True Ventures
Source ↗ - $27MSeries BMar 2026Source ↗
- $27MSeries BFeb 2026
8VC (lead), Bain Capital Ventures, Liquid 2 Ventures, Outsiders Fund
Source ↗
Source: company announcements and press reports — follow each round's link for the claim.
Company profile
researched Aug 2026Flux (iflux.app) is a consumer mobile financial application built around four product pillars presented on its website: Send, Spend, Bank and Invest. The Send function allows users to send and receive money instantly across more than 40 countries using mobile money or a Flux wallet; the site lists supported corridors including the United States, United Kingdom, Ireland, Sweden, Germany, Denmark, Finland, Austria, Cyprus, Estonia, South Africa, Vietnam, Australia, Canada, Ukraine, China, Egypt, Hong Kong, Japan, Macau, Malaysia, South Korea, Turkey, Dubai, the Philippines, Kenya, Ghana and India.
The Spend pillar centres on virtual dollar cards that users can create, freeze, unfreeze, terminate and recreate on demand for online shopping and subscription payments, with 3D online security, instant top-up, contactless use and in-app tracking of card spending. The Bank pillar offers unlimited free transfers to local banks and to other Flux users with no account maintenance charges or hidden fees, alongside everyday transactions such as airtime purchases and bill payments for internet, cable TV and electricity. The Invest pillar covers the purchase of more than 90 cryptocurrencies and a fixed-duration savings product ("Flux Safe") that lets users hold cash in US dollars or euros until maturity; marketing material frames dollar and euro saving from Nigerian naira as a hedge against inflation.
Account opening is free with no minimum deposit. Flux states that it works with fully licensed payment service providers to facilitate money transfers and that these partners provide an additional layer of security; the company does not name the providers on its site.
Business model
Consumer-facing mobile app distributed via app stores. Account opening, local bank transfers and transfers between Flux users are advertised as free with no maintenance or stamp duty charges, and dollar/euro savings are described as fee-free; the sources do not state how the company earns revenue.
Traction
The download site claims 30,000 users, more than 20,000 total app downloads and a 4.8 out of 5 rating, alongside user testimonials from September 2022 praising a bank-transfer speed upgrade.
Latest developments
User testimonials dated September 2022 reference an upgraded bank transfer service delivering near-instant payments.
▸Full profile — market position, technology, go-to-market, geography
Market position
Positions on zero-fee banking — unlimited free local transfers rather than a capped monthly allowance, no account maintenance or stamp duty charges — combined with instant settlement, virtual dollar cards, multi-currency (USD/EUR) fixed-term savings and crypto trading in one app.
Technology
Mobile application for iOS/Android with a virtual card issuing stack supporting creation, freezing, termination and recreation of cards and 3D online security for e-commerce payments; transfers are facilitated through partnerships with licensed payment service providers. The sources describe security only in general terms.
Go-to-market
Direct-to-consumer app downloads promoted through a dedicated download site, social-media presence (@ifluxdotapp) and reposted user testimonials on Twitter, plus a "Featured in" press section on the homepage.
Retail consumers, with messaging oriented toward Nigerian users seeking free local bank transfers, instant payments, dollar-denominated savings and virtual cards for international online spending, as well as senders and receivers of cross-border remittances in the listed corridors.
Geography
Send and receive coverage advertised across 40+ countries, with a named list spanning North America, Europe, the Middle East, Asia-Pacific and Africa (including South Africa, Kenya and Ghana). Product messaging referencing naira savings and local bank transfers indicates Nigeria as the core market.
Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.
Key figures
latest reportedCompany-reported or press-reported figures, each dated to when it was claimed — not independently audited.
Founder mafia
2 people who came through Flux went on to found or lead other companies.
Related companies · 6
Companies working in the same space as Flux.
Legal entities · 1
corporate structure▸Research sources · 8
primary sources listed
- Fluxiflux.app · web
8 public sources were cited for this profile; the first-party ones are listed here.
Frequently asked questions
- What does Flux do?
- Nigeria-based mobile app for free local transfers, cross-border payments, virtual dollar cards, multi-currency savings and crypto.
- Who founded Flux?
- Flux was founded by Ben Eluan, Israel Akintunde, Osezele Orukpe in 2020.
- Who are Flux's investors?
- Flux's investors include Flori Ventures, Y Combinator, 8VC, Bain Capital Ventures, Calibrate Ventures, Glasswing Ventures, Graph Ventures, Harvard Management Company and 8 more.
- How much funding has Flux raised?
- Flux has disclosed $59M raised across 3 rounds.
- Where is Flux headquartered?
- Flux is headquartered in Lagos, NG.