Flutterwave Gets $35 Million Funding for business expansion across Africa
An Africa-focused financial-technology company, Flutterwave, said it raised $35 million and will work in partnership with WorldPay and Visa as it seeks to expand across Africa.
The startup founded in 2016 and based in San Francisco, will become the African payment provider for Worldpay’s clients worldwide, it said recently in an emailed statement.
According to the Chief Executive Officer, Olugbenga Agboola, he said: “We are excited to be working with our newest commercial partners, Visa and WorldPay FIS, and investors to build the dominant payments platform in Africa”.
Flutterwave is the latest payments company operating in Africa’s most populous country of more than 200 million people to secure partnerships with global payments giants. Visa recently bought a 20% stake in leading Nigerian payments provider Interswitch Ltd, raising its valuation to $1 billion.
Notably, with its latest Flutterwave’s $35-million Series-B round, the fintech startup will have raised a total of $55.4-million in disclosed venture capital deals since it launched.
The pan-African payments solutions company has an active presence in 10 African countries, including Nigeria, Ghana, Kenya and South Africa.
Related Posts
Khayyam Jumani becomes Managing Director of J.P. Morgan Private Bank
Khayyam Jumani has stepped into the role of Managing Director at J.P. Morgan Private Bank, bringing with him…
ByLiquid Intelligent completes $855m refinancing and recapitalization
Liquid Intelligent Technologies has completed an $855 million recapitalisation and debt refinancing, supported by a $195 million equity…
IHS Nigeria, NCMM to renovate national Museum Lagos
IHS Nigeria, a subsidiary of IHS Holding Limited (NYSE: IHS) and one of the world’s largest independent tower…
Lagos Games Week returns to drive Nigeria’s stake in $200bn global industry
Lagos Games Week returns to the iconic National Theatre on 18–19 June with a clear ambition to position…
Gallery
