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Flutterwave Africa, a company headquartered in Nairobi, Kenya, has been a leading innovator in the African fintech market. Their portfolio of products includes a variety of financial services, from lending to insurance. They have also recently expanded their offerings to include a range of digital products.
Flutterwave is a modern payments technology company that offers a solution to help African businesses build seamless payment solutions. It provides technology, infrastructure, and services to help banks and merchants across the continent. The company has recently announced a new round of funding, bringing its total investment to $225 million.
Its product is the Flutterwave store, which enables 20,000 merchants to sell online across 15 African countries. It also features an app, Flutterwave mobile, which helps accelerate ecommerce growth.
Other products include a new API and a new payments service. Lastly, Flutterwave recently partnered with Alipay, a Chinese payment provider, to offer digital payments between the two countries. This is a big deal for the company as it allows it to connect Africa with China, a market worth $16 billion.
Diversification into fintech products
One of Africa’s tech unicorns, Flutterwave, has been diversifying into fintech products to attract more funding. The Lagos-based fintech has diversified into payment, remittance and commerce. Its flagship product, Send, allows users to send money across the globe. With 4,729 transactions in the first month, it has recorded a jump in user numbers.
Flutterwave also launched an online marketplace, which was designed to increase revenue for small businesses. In addition, the company launched its Grow product, which helps African businesses incorporate in the U.K.
Flutterwave serves over 900,000 businesses worldwide, and processes more than 140 million transactions a year. A recent round of funding boosted its valuation to more than $1 billion.
To accelerate growth, Flutterwave has recently hired Jimmy Ku as its head of growth. He will lead the company’s global expansion and the development of its new products.
Flutterwave is an African fintech startup that offers payments solutions for businesses in Africa. The company has raised over $200 million in funding, making it one of the few startups in the continent to have raised more than that. Its latest round of funding was led by DST Global, Salesforce Ventures, and Greycroft, among others.
Flutterwave was founded in 2016 by entrepreneur Olugbenga Agboola. It has since accumulated a total of $225 million in financing, including a $20 million Series A, a $35 million Series B, a $170 million Series C, a $250 million Series D, and an extension round.
It’s no secret that Tiger Global has been a fintech investor of note, with a recent $6.7 billion fund. The firm has backed startups across the African continent, including a car marketplace called Cheki, Nigerian media conglomerate IROKOtv, crypto startup Jambo’s, South African e-commerce platform Takealot, and more.
Flutterwave Africa, a payments platform based in San Francisco, raised $170 million from investors in its most recent round of fundraising, valuing the company at over a billion dollars. The company has also seen a major increase in the amount of revenue it generates, growing 100 percent from its previous year.
Flutterwave is a payment platform that allows users to transfer money between each other. The company offers several different services, including its own Flutterwave Store, which helps merchants sell their products online. It is one of several fintech companies taking advantage of the increasing African payments market. Founded in 2016, the company is headquartered in San Francisco and has operations in over 33 African countries.
Flutterwave Africa raised its first $1 million investment in May 2016 from Early Capital Berrywood and Tiger Global Management. In December of that year, the company raised another investment from the same investors.