What Fluz does

Fluz is a New York-based fintech founded in 2018 that operates a multi-segment cashback and embedded payments platform across consumer, small-to-medium business, and enterprise channels. The company issues virtual Mastercard and Visa debit cards through partner banks, runs a digital gift card marketplace covering thousands of brands, and aggregates access to more than 80,000 billers via its Bill Pay product. Since inception, Fluz has processed over $5B (and, per the Invisible Shield source, $10B+) in payments and returned $82-100M+ in cashback to users, growing to 7,500+ business customers and a distributed team across 13 countries.

The platform's technical foundation combines multi-rail payment infrastructure (Mastercard/visa issuance, bank account connectivity, bill pay, gift card vaulting) with a proprietary risk and compliance stack called Invisible Shield that orchestrates vendor integrations (Riskified, Oscilar, Idology, Plaid, Prove) with internal trust models. The company also offers Spend Accounts for collaborative budgeting, a Business Rewards tiered status program (Silver/Gold/Platinum at $10K/$100K/$250K annual spend thresholds), the Fluz Travel Card for travel agents, and an embedded finance Platform launched in February 2026 that exposes pay-in, wallet, controlled-spend, rewards, and disbursement APIs to software companies and marketplaces. AI/ML is deployed selectively for unsupervised fraud anomaly detection rather than across the broader product surface.

Fluz monetizes through spreads on gift card transactions, interchange on virtual card spend, and emerging Platform/B2B fees. Distribution is primarily product-led and self-serve across the consumer and SMB segments, augmented by referral and community mechanics (Fluz Parties, the Fluz Network '2 legs by 5 degrees' referral structure, and an affiliate program). The enterprise/Platform segment uses direct sales and developer-led API onboarding (docs.fluz.app). Fluz claims profitability since 2021, achieved cash-flow positivity early in its lifecycle, and divested its Storefronts business in May 2025 to concentrate on Platform, Payments, and core cashback. Certifications include SOC 2 Type II, PCI DSS, and FDIC pass-through insurance (up to $10M), positioning the company to compete with both consumer cashback wallets (Rakuten, Dosh) and embedded finance APIs (Marqeta, Bridge) from a single stack.

Name

Fluz

Legal name

Fluz, LLC

Website

https://fluz.app

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Fluz is a fintech platform that provides consumer cashback, SMB expense rewards, and an embedded finance API for software companies, monetizing via virtual card interchange, gift card spreads, and transaction-based Platform fees.

Ownership category

akta.pro rank

Product category

Embedded Finance Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Activities Related to Credit Intermediation (5223), Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

Buy Now, Pay Later (BNPL) (CRAFALAD)

akta.pro secondary industry

Embedded FX & Cross-Border Treasury (FSAGALAG)

Keywords

• Cashback rewards platform
• Embedded finance infrastructure
• Virtual payment cards
• Digital gift card marketplace
• Business spend management

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Gift Card Transactions: Fluz earns revenue through gift card purchases where users buy digital gift cards from partner brands. Revenue is generated from the spread between wholesale purchase cost and retail sale price, plus merchant-funded cashback promotions.
2. Virtual Card Cashback: Users earn 1.5% cashback on virtual card purchases funded by interchange fees collected from merchants accepting Mastercard. No fees charged to users for virtual card transactions.
3. Platform/API Services: Revenue from enterprise clients embedding Fluz's payment infrastructure including wallets, pay-ins, payouts, and spend controls. Pricing likely based on transaction volume or platform fees.
4. B2B Business Rewards: Business Rewards tiers (Silver $10K, Gold $100K, Platinum $250K annual spend) with escalating benefits including referral royalties, cashback boosts, and exclusive rates. Revenue from higher business transaction volumes.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels13 records

Core offering

Fluz is a cashback, payments, and embedded finance platform delivered through a mobile app and web portal. It offers consumers 1.5% cashback on virtual Mastercard purchases and up to 25% cashback on digital gift cards from thousands of brands, while giving businesses corporate-card-style spend controls, bill pay, and tiered Business Rewards. Through the Fluz Platform API, the company also licenses its payment infrastructure (wallets, pay-ins, payouts, controlled spend, rewards, and KYB/KYC) to software companies, marketplaces, and financial services firms for embedded finance use cases.

Product overview

Fluz is a financial technology platform operating across three segments: Personal (consumer cashback), Business (team spending and rewards), and Platform (embedded finance for enterprises). The core products include Virtual Cards offering 1.5% cashback on Mastercard transactions and Gift Cards providing up to 25% cashback at partner brands. Key features span Bill Pay (80,000+ billers), Spend Accounts for collaborative budgeting, the Fluz Gift Card for platform funding, and Business Rewards with tiered status levels. The Platform segment provides API-driven payment infrastructure for embedded finance, supporting pay-ins, wallets, controlled spend, rewards, and disbursements. Additional offerings include the Fluz Travel Card (2.5% cashback on travel), Fluz Parties (group shopping events), and a Marketplace for consumer goods and services.

Differentiator

Problem solved

Functional benefit

Products and services

• Fluz Personal Consumer cashback platform enabling individuals to earn rewards on everyday purchases through gift cards, virtual cards, Fluz Parties, and referral networks.
• Fluz Business Business spending platform providing cashback on purchases, team spend controls, vendor payments, bill pay, and tiered Business Rewards with self-service onboarding.
• Fluz Platform Embedded finance platform enabling software companies, marketplaces, and financial services firms to embed pay-ins, wallets, controlled spend, rewards, and disbursements into their own products via APIs and widgets.
• Virtual Cards Instantly generated virtual Mastercard debit cards offering 1.5% cashback, customizable billing addresses, auto-freeze, single-use mode, merchant locks, unlimited card creation, and Apple Pay/Google Pay support.
• Gift Cards Digital gift card marketplace offering cashback (up to 25%) on purchases from thousands of brands, with flexible funding and bulk/automation options for businesses.
• Spend Accounts Dedicated balance accounts with instant deposits, real-time transaction visibility, and collaborative sharing allowing users to invite others to spend within set limits.
• Bill Pay Bill payment feature enabling users to pay 80,000+ billers directly from their Fluz balance with unified bill management.
• Fluz Travel Card Virtual payment card for travel agents and businesses offering cashback on bookings across multiple travel categories, with card details matching client itineraries and no credit checks or limits.
• Business Rewards Tiered business rewards program with Silver, Gold, and Platinum tiers based on annual spend, offering escalating referral royalties, cashback boosts, exclusive rates, and early feature access.
• Fluz Gift Card Platform funding card that lets users load money into their Fluz balance and access all Fluz services through a single balance rather than single-store gift cards.
• Fluz Marketplace E-commerce marketplace offering savings across beauty, electronics, home, clothing, pet supplies, grocery, office supplies, shipping, and advertising, with secure checkout and bulk buying options for businesses.

Quantifiable outcome

• 20% increase in approval rates after deploying Oscilar AI fraud detection
• +4 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability3 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• OscilarcoreTechnology or IntegrationOscilar provides AI-driven fraud detection technology to Fluz, utilizing unsupervised machine learning models to address first-party fraud and improve payment approval rates. The implementation resulted in a 20% increase in approval rates and enhanced fraud detection capabilities.
• SnapliicoreTechnology or IntegrationSnaplii sources gift cards from over 400 brands through Fluz's API, enabling Snaplii users to earn cashback on everyday purchases. Snaplii has launched Agent-to-Merchants features allowing AI agents to execute purchases on behalf of users.
• RiskifiedcoreTechnology or IntegrationRiskified provides fraud protection and chargeback prevention services as part of Fluz's multi-layer Invisible Shield fraud prevention architecture.
• IdologycoreTechnology or IntegrationIdology provides identity verification services as part of Fluz's Know Your Customer (KYC) compliance framework within the Invisible Shield system.
• PlaidcoreTechnology or IntegrationPlaid provides bank account connectivity and verification services enabling secure linking of user bank accounts to the Fluz platform.
• ProvecoreTechnology or IntegrationProve provides phone-based identity verification and authentication services as part of Fluz's fraud prevention and compliance infrastructure.
• Dots.ecominorStrategic or Co-development PartnerDots.eco is a for-profit organization funding environmental initiatives. Consumers can buy Dots.eco gift cards on Fluz to support environmental projects like tree planting and sea turtle protection while earning cashback.
• MastercardcoreTechnology or IntegrationFluz Virtual Cards are issued through partner banks pursuant to a license from Mastercard International. Cards work everywhere Mastercard is accepted online and via Apple Pay/Google Pay in stores.

Scale indicators12 records

Recent moves7 records

Expansion highlights7 records

Direct peers

• Rakuten: Rakuten operates one of the largest consumer cashback and shopping rewards marketplaces globally. It is the most directly comparable anchor to Fluz across cashback, gift cards, and merchant-funded reward economics targeting everyday purchasers.
• Ibotta: Ibotta is a leading cashback and digital receipt rewards app covering grocery and everyday consumer purchases. It overlaps Fluz's consumer cashback reward flow and competes for the same everyday-purchase occasions.
• Dosh: Dosh is a card-linked cashback platform that automatically rewards users at connected merchants. It is a direct competitor to Fluz on the cashback-via-card-model serving consumers from a mobile-first experience.
• RetailMeNot: RetailMeNot aggregates digital coupons, promo codes, and cashback offers across thousands of brands. It is highly comparable to Fluz's gift card marketplace and deal-driven cashback consumer surface.
• Drop (Dots): Drop is a consumer rewards app that pays users cashback for everyday spending via linked cards. It is a direct competitor to Fluz on the consumer-side card-linked cashback and rewards mechanic with similar PLG positioning.
• Honey (PayPal): Honey provides cashback and coupon discovery at online checkout, owned by PayPal. It overlaps Fluz's e-commerce cashback and gift card value proposition with massive installed-base reach via its browser extension and PayPal distribution.

Broad incumbents

• Brex: Brex is a corporate card and spend management platform for technology and growth-stage businesses. It competes with Fluz Business on SMB spend management, bill pay, and rewards attached to corporate purchasing.
• Marqeta: Marqeta is a card-issuing and payment processing platform powering virtual and physical cards for fintechs. It is comparable to Fluz Platform's card-issuance and virtual card infrastructure layer, though at a far larger scale.
• Ramp: Ramp is a corporate card and finance automation platform for SMBs and mid-market companies. It directly competes with Fluz Business on virtual cards, expense controls, bill pay, and cashback incentives.

Others

• Plaid: Plaid provides bank account connectivity and identity data infrastructure to fintechs. It is a documented integration partner of Fluz (within Invisible Shield) and is adjacent infrastructure to Fluz Platform's KYC and funding flows.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCaM314EU0AYiB6kHpra72Yg
• LinkedInlinkedin.com/company/fluzapp
• Instagraminstagram.com/fluzapp
• TikToktiktok.com/@fluz.app

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds5 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fluz