Flux raises $1.5 million as Starling Bank opens fintech Marketplace
12 September 2017 | 8341 views | 0
Starling Bank has gone live with its Marketplace model, enabling customers to tap into third party services from fintech firms direct from the challenger bank's mobile app.
Starling has previously partnered with Transferwise, Moneybox, Tail and Houndify, but the honour of being the first fully integrated partner to sit within the Marketplace goes to rewards and receipt platform Flux.
Flux sends real-time receipts to the Starling app when a customer pays with their Starling card at any of Flux’s retail partners, which so far includes all 111 EAT stores in the UK and Bel-Air.
Megan Caywood, chief platform officer at Starling Bank, says: "We think the ability to digitise your receipts, as provided by Flux, will give our customers greater insight into their spending, and a less cluttered financial life. Having Flux join us at the start of our journey to build out our Marketplace is an exciting step into the future of finance.”
She adds that Flux is available now for all Starling Bank customers and takes less than 30 seconds to activate.
News of the integration comes as Flux closes a $1.5 million seed round led by PROfounders). The round also drew support from Anthemis, Force over Mass, Yarrow Capital, and a number of prominent individual investors.
Alongside the alignment with Starling, Flux is also in a closed pilot with rival challenger Monzo.