Flutterwave became a unicorn after a mega-round headed by Tiger Global. Nine US investors co-invested US $250 million at a US$3 billion valuation on 16th Feb 2022, betting that the six-year-old African fintech startup will eventually dominate its market.

Flutterwave has become Africa’s highest-valued startup.

Flutterwave plans to utilize the funds to expand and acquire new customers by seeking firms to buy or invest in and develop products to boost the value of its payment processing company.

What the founder has to say:

CEO Of Flutterwave-Olugbenga Agboola

Flutterwave’s CEO feels that his company has always aspired to be more than a payment processor and that they “set out to establish a platform that simplifies payments”. In 2019, they partnered with Visa to offer an app that enabled users with virtual dollar cards for online payments. Indeed, one of Levinson’s investing criteria is a company’s “wide platform potential.”

Flutterwave’s vision has expanded beyond financial services, creating a company incorporation vertical for Nigerians looking to register enterprises in the United States and the United Kingdom. In this regard, the company is more broad-based than even Paystack, Silicon Valley’s favorite payments provider.

What the investors have to say:

“Flutterwave has the potential to become one of the world’s most important fintech companies, allowing hundreds of thousands of merchants to transact online and connect Africa to the global economy,” said Matt Levinson, a partner at B Capital Group in California, which led the new round.

About flutterwave:

Flutterwave is on a quest to connect Africa to the global economy by building payments infrastructure.

They accomplish this by developing technology, tools, and infrastructure for businesses and banks who want to give their consumers a more smooth and secure payment experience. It was founded in 2016 by a group of African banking and technology experts who previously worked at Standard Bank, PayPal, and Google Wallet.

Flutterwave has risen to become one of the world’s most rapidly expanding payment companies. Flutterwave has processed around $2 billion in payments and 25 million transactions across 33 African nations since its start.

It has received considerable funding from seasoned Fintech investors such as Y Combinator, Continuity Fund (Stripe investors) and Greycroft Capital (investors in Braintree and Venmo).

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Kshitij does business research and content writing for VCBay. Pursuing BBA from Symbiosis Center Of Management Studies (SCMS) Pune, he is skilled in Financial Modeling, Stock valuation and Microsoft Excel. He is passionate about Entrepreneurship and Finance.

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