play_arrow

keyboard_arrow_right

skip_previous play_arrow skip_next
00:00 00:00
playlist_play chevron_left
volume_up
chevron_left
  • cover play_arrow

    Welcome to Online Radio
    The Leading Lifestyle Internet Radio

  • cover play_arrow

    Music 24/7 - Africana
    Online Radio

  • cover play_arrow

    Music 24/7 - International
    Online Radio

  • cover play_arrow

    Music 24/7 - Gospel
    Online Radio

  • cover play_arrow

    Music 24/7 - Latin America
    Online Radio

  • cover play_arrow

    Talk Shows - Stay Updated
    Online Radio

  • cover play_arrow

    Pillars and Plants - Gospel
    Online Radio

  • cover play_arrow

    Audio Stories - A new movie experience
    Online Radio

  • Home
  • keyboard_arrow_right Business
  • keyboard_arrow_right Nigerian Payments Startup Flutterwave Raises $170M, Now Valued At Over $1Bn

Business

Nigerian Payments Startup Flutterwave Raises $170M, Now Valued At Over $1Bn

Oluwaseye Ogunsanya March 10, 2021 15


Background
share close

…Considers Possible Dual Listing In New York and Nigeria

Nigerian payments startup, Flutterwave, has closed a $170m Series C funding round, the largest amount ever secured by an African tech startup and one that gives it “unicorn” status with a value of over $1bn.

Flutterwave is one of several fintech groups aiming to facilitate and capitalise on a booming African payments market driven by increased mobile phone use and faster internet speeds.

Launched in 2016 and headquartered in San Francisco, the fintech company builds modern payments technology and infrastructure for Africa to allow people and businesses to connect with the global economy.

Flutterwave has an active presence in 11 African countries, including Nigeria, Ghana, Kenya, and South Africa, and at the time of its Series B just over one year ago had processed 100 million transactions valued at over $5.4bn for global leaders including Uber and Booking.com.

The funding is for expansion into new markets.

“Its solution enables banks and merchants to replace multiple payment integrations with one simple API, which enables processing of any form of payment anywhere in Africa,” Disrupt Africa reports.

The startup is one of Africa’s most supported, raising $10m in Series A funding in August 2017, an extension round in 2018, and a $35m Series B in January of last year.

It has now added to that funding with a record-breaking Series C round worth $170m, which moves the value of the company to over $1bn.

Speaking with news outlets, Flutterwave’s CEO and co-founder Olugbenga Agboola, said, “We may consider the possibility of listing in New York or a possible dual listing in New York and Nigeria.”

US-based investment firms Avenir Growth Capital and Tiger Global led the round, which also includes new and existing investors, including DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, PayPal, Salesforce Ventures, Tiger Management, and WorldpayFIS 9yards Capital.

Tagged as: , , , .

Rate it
Previous post
close
  • 10

Entertainment

‘I Still Don’t Believe Meghan’ — Piers Morgan Insists After Quitting GMB

Oluwaseye Ogunsanya March 10, 2021

English broadcaster and former TV host of Good Morning Britain, Piers Morgan, has maintained his criticism of the Duchess of Sussex, Meghan Markle, after quitting ITV breakfast programme, ‘Good Morning […]

Read more trending_flat

Post comments (0)

Leave a reply