Flutterwave Gets $35m Funding

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Flutterwave, a Nigerian-based payments technology company with operations in Africa, yesterday announced that it has closed a $35 million Series B from a consortium of strategic investors.

The round was co-led by Greycroft & eVentures with additional participation from CRE Venture Capital, WorldPAY FIS, VISA, Green Visor and Endeavor.

Flutterwave connects the African continent to the world at large by providing the easiest and most reliable payment solutions for businesses around the globe.
To date, Flutterwave has processed 100 million transactions valued at over $5.4 billion globally for clients including Uber and Booking.com.

“We’re helping businesses in Africa and globally accept payment and to scale by being the payment technology that connects Africa to the world,” Flutterwave’s founder and CEO, Olugbenga Agboola said.

A statement quoted him to have added: “We have built a technology infrastructure that is steadily being recognised as the bridge to connect the payment system.
“We are excited to be working with our newest commercial partners, Visa and FIS, and investors to build the dominant payments platform in Africa.”

“With the latest round of funding, Flutterwave will continue to provide innovative solutions to businesses that want to facilitate payments seamlessly.
“The company’s core offering provides a frictionless payment solution for merchants, banks, and consumers and simplifies how payments are made and accepted.

“The new funding will be used to support its expansion across Francophone and North Africa as part of its mission to connect Africa to the world as well as drive efforts to boost market share in existing markets.

“On the back of the latest round of funding, Flutterwave has signed commercial agreements with Visa and FIS. The agreement with FIS will allow the global financial technology provider to offer the Flutterwave solution as part of Worldpay from FIS payment solutions to its merchant clients in Africa. Flutterwave is a 2016 graduate of the FIS FinTech Accelerator program,” it added.