Fluxflex, a US and Japan cloud-based API hosting site, has raised an undisclosed amount of capital through convertible notes from Japan-based internet company CyberAgent’s corporate venturing unit, CyberAgent Ventures, Japan-based incubator Archetype and GMO Payment Gateway, a credit card payment processing service provider.
The funding comes at the same time as the company’s launch of its WebPay, Credit Card Payment API product. According to technology news site CNet, the WebPay product has high compatibility with Stripe’s API, which is widely used in the US and allows users to develop a payment system within a few hours using an abundant library and samples. The added bonus is the API’s selection of payment options, such as periodic payment, pay-as-you-go payment, discount with coupons, and one-click payment, which will be a unique selling point to ts target market of application developers that expect a lot of traffic on their app webpages.
WebPay currently charges a fee for every transaction, which could lose its appeal as new players crowd the market and come on the scene with no transaction fees.
In 2011 the start-up reportedly raised US$240,000 in angel money.