Aplicación YC de Flux

Winter 2021Active

Flux pasó por Y Combinator en el batch Winter 2021 como una empresa de Fintech. Abajo: qué hace la empresa, quién la fundó y su aplicación a YC, reconstruida pregunta por pregunta en el formulario real de YC.

Batch YC: Winter 2021
Industria: FintechPayments
Tamaño del equipo: 8
Estado: Active
Lanzado: 2021

Fundadores

Israel Akintunde
Osezele Orukpe
Ben Eluan

Lo que hace Flux

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

Aplicación YC de Flux, reconstruida

Solicitud de Y Combinator

Flux, batch Winter 2021. Las preguntas reales del formulario, respondidas con datos públicos.

Founders2
Company7
Progress7
Idea4
Equity3
Curious2
Batch Preference1

Company

Company name

Flux

Describe what your company does in 50 characters or less.

Cross border Payments infrastructure

What is your company going to make? Please describe your product and what it does or will do.

We built Flux, a mobile app that allows merchants, freelancers, and regular users in Africa to send and receive payments globally using crypto or fiat. The app creates wallets tied to phone numbers, enabling users to accept payments without needing exchanges or complex crypto addresses. Crypto received converts instantly to fiat and is available for spending right away, solving the problem of high fees and currency instability in our region.

Where do you live now, and where would the company be based after YC?

We live and work in Lagos, Nigeria and the company is based there now and would remain there after YC.

Explain your decision regarding location.

Lagos is where the market is. Nigeria has no PayPal, Venmo, or CashApp for most people. The local currency fluctuates more than bitcoin, so Flux solves a real need for African merchants and freelancers who want simple, fast, low-fee payments globally.

21 respuestas más en la aplicación completa

están en la versión completa. Crea una cuenta gratuita para abrirla en YC Insights, junto a cada otro batch de YC.

Ver aplicación completa

Preguntas Frecuentes

¿Es esta la aplicación YC real de Flux?

No. Y Combinator mantiene privadas las aplicaciones enviadas. Esta es una reconstrucción: las preguntas reales del formulario de YC, respondidas a partir de los datos públicos de Flux (notas de lanzamiento, antecedentes de fundadores, descripción del producto). Muestra cómo una empresa como Flux se presentaría a YC, no el texto que enviaron.

¿En qué batch de YC estuvo Flux?

Flux formó parte del batch Winter 2021 de Y Combinator.

¿Quién fundó Flux?

Flux fue fundado por Israel Akintunde, Osezele Orukpe, Ben Eluan.

¿A qué se dedica Flux?

Cross border Payments infrastructure for internet businesses and…

¿Cómo leo la aplicación completa reconstruida?

Crea una cuenta gratuita de Round Funded. La versión completa de 26 respuestas de la aplicación de Flux, y de cada otro batch de YC, está en YC Insights.