As it secures USD $170m Investment from leading International investor
Africa’s leading fintech firm, Flutterwave, now worth over USD $1 billion.
This follows the USD $170 million investment from a leading group of international investors.
In a statement by Wendy, the Head, Branding and Storytelling, “the round was led by growth-equity firms Avenir Growth Capital (“Avenir”) and Tiger Global Management LLC (“Tiger Global”) with participation from new and existing investors.”
The new deal sums the firm’s investment to USD $225 million, which is a significant feat in a period of widespread disruption and economic uncertainty.
Speaking on the development, the Founder and CEO of Flutterwave, Olugbenga ‘GB’ Agboola, said:
“When Flutterwave was founded in 2016, the payments landscape in Africa was highly fragmented so the goal was to build a pan-African platform that simplified payments for everyone. However our successes would not be possible without:
(2) The trust and support we have received from our investors and customers and
(3) Regulatory bodies like the Central Bank of Nigeria which – under the leadership of the current Governor, Mr Godwin Emefiele – has remained at the forefront of the significant efforts that are currently being made by African governments to create the enabling environment for technology, innovation and financial inclusion.
“Thiss humbling support has created the backbone upon which companies like Flutterwave have been able to thrive,” he added.
Flutterwave Launches Mobile App
Also, the firm has announced that it will “invest the new capital to accelerate customer acquisition in existing and international markets, as well as develop complementary and innovative products such as the newly launched “Flutterwave Mobile.”
According to the statement, the app is designed to help accelerate ecommerce growth across Africa.
This development was inspired by the success of the Flutterwave Stores.
