Why this struggling YC-backed startup is not giving up
- Between 10 and 15 startups shut down in 2023 in the African tech ecosystem.
- Flux's dream of becoming a $1 billion cross-border payments company is hindered by regulation.
- Flux is facing challenges with cryptocurrency regulation in Nigeria, which has forced the company to rethink its approach.
The regulatory challenges faced by Flux in Nigeria, particularly regarding cryptocurrency, have had a negative impact on the company's operations and revenue. However, Flux's determination to find alternative solutions and partnerships shows resilience and a commitment to staying in the market. The company's ability to adapt and navigate the changing regulatory landscape will be crucial for its long-term success.
