Flutterwave Reportedly Becomes The Highest Valued African Startup, Raises $250M Series D Funding Round
Photo Credit: Flutterwave
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Flutterwave Reportedly Becomes The Highest Valued African Startup, Raises $250M Series D Funding Round

Flutterwave has reached exponential heights within the span of six years.

AfroTech previously reported that the Nigeria-based fintech startup raised a $170 million Series C round in March 2021.

“We will continue to connect you to a world of opportunities and growth, to make it possible for you to reach your customers wherever they are and create endless possibilities for your business,” Flutterwave wrote via an Instagram post following the Series C round.

https://www.instagram.com/tv/CMOphnrHe2s/?utm_source=ig_web_copy_link

Now, slightly less than a year later, the company has closed on a recent funding round to power its mission of helping provide payment infrastructure across the African continent.

Quartz Africa reports that Flutterwave has raised $250 million in a Series D round at a $3 billion valuation, reportedly making it the highest valued African startup.

For the list of investors, click here.

The latest funding will go toward “expansion and customer acquisition, by looking for companies to buy or invest in and creating products that amplify the value of its payment processing business,” the unicorn said in a statement.

According to the outlet, the Series D funding will tie into Flutterwave’s marketing acumen. The team has recently been raising the bar for its partnership rollout. AfroTech previously shared the company signed on international superstar Wizkid as a Global Brand Ambassador, along with Send — one of its latest payment tools. Hopefully, the matchup of Africa’s leading payment provider and an Afrobeats icon will help showcase the best of the continent to mainstream culture.

“Flutterwave and Wizkid share a common belief of showcasing the best of Africa to the world,” Flutterwave CEO and founder Olugbenga “GB” Agboola shared in a statement. “Send by Flutterwave is the best remittance solution out there by coverage, cost of transactions, and speed. Send represents our over five years of learning, relationship-building, research, and development in cross-border payments. It is also a truly African solution made in Africa by Africans and for the world.”