Inscrição YC de Flux

Winter 2021Active

Flux passou pela Y Combinator no batch Winter 2021 como uma empresa Fintech. Abaixo: o que a empresa faz, quem a fundou e sua inscrição para a YC, reconstruída pergunta por pergunta no formulário real da YC.

Batch YC: Winter 2021
Indústria: FintechPayments
Tamanho da equipe: 8
Status: Active
Lançada: 2021

Fundadores

Israel Akintunde
Osezele Orukpe
Ben Eluan

O que Flux faz

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

Inscrição YC de Flux, reconstruída

Inscrição Y Combinator

Flux, lote Winter 2021. As verdadeiras perguntas do formulário, respondidas com dados 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 respostas a mais na inscrição completa

Founders, Progress, Idea, Equity, Curious, Batch Preference estão na versão completa. Crie uma conta gratuita para abri-la no YC Insights, ao lado de todos os outros batches da YC.

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Perguntas Frequentes

Esta é a inscrição real da YC de Flux?

Não. A Y Combinator mantém as inscrições submetidas em privado. Esta é uma reconstrução: as perguntas reais do formulário da YC, respondidas a partir dos dados públicos de Flux (notas de lançamento, históricos de fundadores, descrição do produto). Mostra como uma empresa como Flux se apresentaria à YC, não o texto que eles submeteram.

Em qual batch da YC Flux esteve?

Flux fez parte do batch Winter 2021 da Y Combinator.

Quem fundou o Flux?

O Flux foi fundado por Israel Akintunde, Osezele Orukpe, Ben Eluan.

O que o Flux faz?

Cross border Payments infrastructure for internet businesses and…

Como eu leio o application completo reconstruído?

Crie uma conta gratuita no Round Funded. A versão completa de 26 respostas do application do Flux, e de todos os outros lotes do YC, está no YC Insights.