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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. 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...

Feb 16, 2022

Flutterwave Teams Up With Afrobeats Star Wizkid To Drive Seamless Payments Across Africa

Wizkid continues to make waves globally. According to a press release, the Grammy-award-winning artist just inked a deal as Flutterwave’s new Global Brand Ambassador. Africa’s leading payment provider’s announcement comes at the same time as the news of Send, a remittance solution that was designed to increase remittance flow and uptake to the African continent. Got to sit down with @techprod_arch , Founder and CEO of Flutterwave, to talk about @sendbyflw , our partnership and the future! 🦅x🦋 Watch the full video – — Wizkid (@wizkidayo) December 23, 2021 “Wizkid’s story is that of hard work, resilience, and excellence,” said Olugbenga “GB” Agboola, Flutterwave CEO and Founder, in an official press release. “The way he constantly represents Africa in the global entertainment stage is something we love. As a leading technology company out of Africa, our values align and we’re excited to have him join us to drive adoption for Send.”

Dec 23, 2021

Flutterwave, PayPal Announce Collaboration to Allow Customers Worldwide to Pay African Merchants

After closing a $170 million Series C funding round, Nigerian FinTech startup Flutterwave has announced a new collaboration with payments giant PayPal to allow customers worldwide the option of sending and receiving payments from African merchants, TechCrunch reports. According to the outlet, it has been nearly impossible for businesses in some African countries to receive money from PayPal — which is rumored to be due to insufficient regulation and poor banking security — but that’s changing now thanks to a new feature on the platform called “Pay with PayPal.” Through this partnership, Flutterwave is allowing African businesses to connect with the 377 million existing accounts on PayPal’s global platform to help resolve the complex and broken banking infrastructure on the continent and eliminate the barrier of cross-border commerce. “In a nutshell, we’re bringing more than 300 million PayPal users to African businesses so they can accept payments across the continent,” CEO...

Mar 16, 2021

African Payments Company Flutterwave Closes $170M Series C, Bringing Company Value to Over $1B

This time last year, Nigerian-founded and San Francisco-based startup Flutterwave just finished closing on a $35 million Series B funding round. Now this week they close on an additional $170 million, bringing the company’s value to over $1 billion, TechCrunch reports. This Series C round was led by New York-based private investment firm Avenir Growth Capital and U.S. hedge fund and investment firm Tiger Global. Additionally, new and existing investors who participated in the round also include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, Salesforce Ventures, Tiger Management, Worldpay FIS 9yards Capital. According to TechCrunch, Flutterwave has raised an upwards of $225 million total in the last three years and is one of the few African startups to have secured more than $200 million in funding overall. We previously reported that the startup had processed more than $5.4 billion in transactions as of 2019, more than doubling its...

Mar 10, 2021

Flutterwave Raises $35 Million and Announces Lucrative Partnership in Series B Funding Round

Flutterwave , the San Francisco-based payment processing platform that has enriched the transaction infrastructure of businesses worldwide, has just made a giant leap into the investment ecosystem. The pioneering company recently closed its Series B funding round having raised a whopping $35 million . Flutterwave, led by CEO and co-founder Olugbenga Agboola , was established in 2016.  Former bankers, engineers, and innovators created the company with the goal of assisting Africans in establishing global businesses by devising payment technology to link Africa to the global economy . Its payment technology was designed to facilitate seamless integration with international and domestic payment systems. The closing of the funding round and the announcement of a new partnership represents the dawn of a new day for Flutterwave. The company is now joining forces with Worldpay in Africa, broadening payment solutions across the continent. The deal sets the stage for a lucrative partnership,...

Jan 23, 2020