Tech in Africa
Blueloop, a Nigerian crypto startup has raised USD$77,000 in pre-seed funding. The money will go into the development of Flux, a mobile payments crypto-based cross-border platform. Individuals and businesses can rely on Flux to receive and send money to any part of the globe, convert it into cash, and spend it locally through their Flux wallets.
Flux operates like a regular banking app allowing users to send and receive money across the globe. Blueloop was founded by Osezele Orukpe, Ben Eluan, and Israel Akintunde, and went live in September.
The team draws inspiration from a product they launched while in university called Jupa, attracting over 20,000 students since its launch. According to Disrupt, Flux took several years of research into cryptocurrencies and KYC till they identified a gap in the payments space. The team believes they have the right solutions that will help it compete with companies like Bundle operating in a crowded market.
Original Source: Disrupt Africa
