Заявка Flux в YC

Winter 2021Active

Flux прошел Y Combinator в потоке Winter 2021 как компания из сферы Fintech. Ниже: чем занимается компания, кто ее основал, и ее заявка в YC, реконструированная вопрос за вопросом в реальной форме YC.

Поток YC: Winter 2021
Сфера: FintechPayments
Размер команды: 8
Статус: Active
Запущено: 2021

Фаундеры

Israel Akintunde
Osezele Orukpe
Ben Eluan

Чем занимается 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

Заявка Flux в YC, реконструирована

Заявка Y Combinator

Flux, батч Winter 2021. Реальные вопросы из анкеты, ответы из публичных данных.

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 еще ответ в полной заявке

Founders, Progress, Idea, Equity, Curious, Batch Preference находятся в полной версии. Создайте бесплатную учетную запись, чтобы открыть ее в YC Insights, рядом с каждым другим потоком YC.

Смотреть полную заявку

Часто задаваемые вопросы

Это реальная заявка Flux в YC?

Нет. Y Combinator держит поданные заявки в приватности. Это реконструкция: реальные вопросы формы YC, ответы на которые основаны на публичных данных Flux (заметки о запуске, бэкграунд фаундеров, описание продукта). Это показывает, как компания вроде Flux представила бы себя YC, а не текст, который они подали.