Flubit: 2013 London Web Summit Winner Secures Deal with Barclays and a $50mn Series A Funding

UK technology startup Flubit.com has agreed a major partnership with Barclaycard to offer a completely new type of retail proposition, which is set to launch later this year, potentially benefiting thousands of online merchants.

Flubit.com is an online shopping platform that creates private offers on products that consumers are ready to buy. It works with a range of independent UK online retailers to create private, discounted offers without e-tailers having to sacrifice margin or pay commission.

This sees Barclaycard enter into a significant partnership with a Silicon Roundabout start up, and looks to use Flubit’s technology platform on its bespoke offers website later in the year to create private, personalised prices to UK online shoppers. Barclaycard’s bespoke offers, launched in May 2013, currently has 1 million active users and Barclaycard has 35 million customers and 300k merchants, offering significant potential for success and growth.

Flubit launched in October 2012 and went on to win the 2013 London Web Summit competition. Now, 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, at a valuation of nearly $50m.

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