Barclays steps up partnership with FinTech platform Flux
Barclays has made an undisclosed investment in Flux, which provides digital receipts and rewards to customers’ banking apps.
In addition to becoming a minority shareholder, the bank will soon expand its partnership with Flux to reach its entire UK mobile banking customer base, after a trial period on Barclays’ beta programme Launchpad.
In 2019, Flux raised £6 million of Series A funding. It has inked deals with the likes of Papa Johns, Just Eat and KFC, and is currently available to Monzo and Starling Bank customers.
“Flux’s innovative technology provides a practical and straightforward solution to an everyday problem for both shoppers and merchants,” says Ruchir Rodrigues, Global Head of Digital & Platforms at Barclays.
“We have worked closely with them since 2017, and we’re excited to continue supporting them in their next stage of growth through this strategic partnership.”