What a week it has been for Flubit, previous startup winners at The Summit, who have just announced a Series A and a really cool partnership with Barclaycard. This partnership will see Barclaycard aiming to use Flubit’s technology platform on its bespoke offers website later in the year to create personalised prices, offered in private, to UK online shoppers.
Flubit launched in October 2012 thanks to the great work of founders Bertie Stephens and Adel Louertatani, and went on to win the 2013 London Web Summit competition. Now just 18 months later they have secured a major partnership with a FTSE 100 company, and are also announcing the closure of the first part of their Series A investment round, led by Cocoon Wealth.
So what do Flubit do? Well in a nutshell, and according to themselves, Flubit helps smaller merchants compete with e-commerce giants without having to sacrifice their margins. WeFlubit.com is the merchant facing website which allows online retailers the ability to sign up to the platform.
It’s exciting to see them reach the next level, and hopefully the will go to strength to strength over the next 12 months. Here is what the Flubit founders had to say about the last 12 months.
“Mid last year when we put ourselves forward for the The Summit’s Start Up Competition we had only been trading for 5 months. We’d had an awesome team who had been building our technology for the previous year, and we were excited as any other to be presenting it to the world on the biggest tech stage around. After a gruelling knockout process in the morning, we found ourselves in the final! As the team stopped work and watched the live web streams from our offices in Old Street, to our amazement the judges announced us winners – it was an incredible feeling, and brilliant for the team.”
Video via IBTimes UK
“The judges gave us reasons for the win: “It won because of the potential it has over the next 24 months and its championing of the consumer. It was the most interesting business.” To be announcing a major partnership with Barclaycard just 12 months later is perfect. The Summit gave us our platform to jump, and since then the team have been working to make sure we fulfil the judges view – there’s a long journey ahead, but to have a major partnership with the UK’s largest payment provider, with a customer base of 35m, is nothing but a massive achievement and potential for success for the team to grow.”