Flux's management team Tom Reay, Matty Cusden-Ross and Veronique Barbosa.
Barclays preparing digital receipt rollout as it takes a stake in Flux
The stake is an extension of Flux's $7.5m Series A in 2018.
CEO Matty Cusden-Ross has championed the technology as both a cost-saving win for retailers not having to issue paper receipts, and an environmental win due to the trees needed for all those paper receipts.
“Flux’s innovative technology provides a practical and straightforward solution to an everyday problem for both shoppers and merchants,” said Ruchir Rodrigues, Barclays’ Global Head of Digital and Platforms.
“We have worked closely with Flux since 2017, and we’re excited to continue supporting them in their next stage of growth through this strategic partnership.”
Barclays and Flux have a long-standing relationship, the digital receipt upstart having been through Barclays’ Rise fintech accelerator in 2017 and running a successful trial on Barclays’ Launchpad programme in 2018.