e.ventures heads up Flux funding round

Flux, a UK startup whose retail partners include Costa Coffee and EAT, has closed a $7.5 million Series A round led by e.ventures along with existing investors PROfounders and Anthemis. It will use the cash to build out its engineering team and expand across the UK.

Flux plugs into banking apps and is currently available for customers of Barclays via Launchpad, Starling Bank and an alpha group at Monzo. When they link their account to the service, it will deliver digital receipts and where available rewards and loyalty, in real-time, for transactions at Flux retailer partners.

Andreas Haug, Founding Partner at e.ventures, says: “We have been impressed by the traction the Flux team have made amongst large UK retailers and banks in a short timeframe. We see paperless data on spending as one of the last frontiers enabling a true shift to digital engagement within retail and are excited for the future with Flux.”