• Cryptocurrency
  • Earnings
  • Enterprise
  • About TechBooky
  • Submit Article
  • Advertise Here
  • Contact Us
TechBooky
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
  • African
  • AI
  • Metaverse
  • Gadgets
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
TechBooky
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors

Flutterwave Is Now Valued At $3 Billion After A $250 Million Series D Round

Ibhadojemu Emmanuel by Ibhadojemu Emmanuel
February 16, 2022
in Uncategorised
Share on FacebookShare on Twitter

Lagos-based and San-Francisco-based fintech Flutterwave has raised $250 million in a Series D round at a new valuation of $3 billion. The round comes about twelve months after its Series C funding round which raised its valuation to over a billion. The total amount raised by Flutterwave runs into $475 million.

What really does Flutterwave do? The fintech, founded by serial investor and software engineer Olugbenga “GB” Agboola, facilitates cross-border payments for businesses starting from SMBs to large businesses through its API. It also assists foreign businesses with permeating the African front and expanding on their continent.

Thanks to this new funding round, Flutterwave is now the most valued African startup. Opay and Chipper Cash formerly held the crown at valuations of $2 billion. As of March last year, when the company attained unicorn status, it processed 140 million transactions valued at $9 billion. The fintech has seen meteoric growth between its last round and now. Flutterwave which is currently present in 34 countries in Africa, now process 200 million transactions worth over $16 million. Users of its platform have also grown astronomically. As of March last year, it had a record 290,000 businesses on its platform but guess what! The figure has more than tripled to 900,000. These 900,000 businesses across the world use the platform to process payments in 150 currencies while using various payment options such as mobile wallets, transfers, cards, etc.

Although Flutterwave’s huge market share contributed primarily to the growth it experienced in the last one year, the company says that placing increased focus on SMBs, retail and consumers also contributed significantly to its growth. The fintech’s founder spoke that “It was deliberate from us because we saw the opportunity in the SMB space, and how they require the same technology pie the Ubers and Netflixes of this world use. Some of this is evident is how we expanded the Flutterwave Store, which allows small businesses anywhere in Africa to create an e-commerce shop online at zero cost scale”.

“We’re becoming what we wanted to be: the infrastructure for any kind of payments. There’s no sector you look at today in Africa that you wouldn’t see Flutterwave taking a piece of that and enabling merchants and consumers to grow and scale”, he added referring to the company’s growth and valuation.

Flutterwave which acquired Disha, a creator platform, plans to make more acquisitions that’ll help strengthen its position in the fintech space. “We plan to grow inorganically through acquisitions, and it will happen when we find a fit and see a company with the same core values or culture and goal of making payments simpler across emerging markets. So we still have plans for that”, the company’s CEO said.

Eyebrows have been raised about an IPO for the company but the company’s founder says “at the moment, no IPO. The goal is to continue to grow and scale. But obviously, we plan to be IPO-ready from a maturity perspective, which means continue to build the infrastructure, cross our Ts and dot our Is if we choose to go that route”.

Speaking about the funding and Flutterwave’s new valuation, Matt Levinson, a partner at B Capital said in a statement that “Flutterwave may ultimately build one of the most consequential fintech businesses in the world, enabling hundreds of thousands of merchants to transact online and connect Africa to the global economy”.

Related Posts:

  • African-Startups
    African Startups That Have Raised Money This Year
  • Google-Pay-Flutterwave
    Flutterwave Finally Integrates Google Pay Into Its…
  • brain-on-no-sleep
    Payment Startup SumUp Gets $624 Million In Funding…
  • Rwanda-license-blog-3-100
    Flutterwave Is Currently A Licensed Electronic…
  • 1200x600wa
    Flutterwave Gets Rwandan Electronic Payments License
  • The Kenyan Regulatory Agency Probes Flutterwave and Other Startup Companies Over Alleged Money Laundering.
    The Kenyan Regulatory Agency Probes Flutterwave and…
  • The Kenyan Regulatory Agency Probes Flutterwave and Other Startup Companies Over Alleged Money Laundering.
    The Kenyan Regulatory Agency Probes Flutterwave and…
  • Flutterwave-X-Presidency
    Flutterwave Sets Eyes On Nigeria Stock Market Listing

Discover more from TechBooky

Subscribe to get the latest posts sent to your email.

Ibhadojemu Emmanuel

Ibhadojemu Emmanuel

Ibhadojemu Lucky Emmanuel is a graduate of Education and Economics from the University of Benin. He has a passion for tech and business and has been writing professionally for over a period of five years. He's written across various topics and segments and knew tech-business was it when he first stumbled on it. He has a great passion for music and arts, and wants to visit as many countries as he can someday.

BROWSE BY CATEGORIES

Select Category

    Receive top tech news directly in your inbox

    subscription from
    Loading

    Freshly Squeezed

    • Nigeria to Release First AI Guidelines Within Weeks, Says Alake May 20, 2025
    • Google Secures Major Solar Deal for Data Centre Power May 20, 2025
    • NIBSS and CAC Launch API to Streamline Business Operations May 20, 2025
    • Nigeria Plans $2B Fibre Network to Expand Internet Access May 20, 2025
    • AI Helps Google One Reach 150 Million Subscribers May 16, 2025
    • FT Lists Paymenow, TymeBank & Omnisient Among Africa’s Fastest-Growing Firms May 16, 2025

    Browse Archives

    May 2025
    MTWTFSS
     1234
    567891011
    12131415161718
    19202122232425
    262728293031 
    « Apr    

    Quick Links

    • About TechBooky
    • Advertise Here
    • Contact us
    • Submit Article
    • Privacy Policy

    Recent News

    Nigeria to Release First AI Guidelines Within Weeks, Says Alake

    Nigeria to Release First AI Guidelines Within Weeks, Says Alake

    May 20, 2025
    Google Secures Major Solar Deal for Data Centre Power

    Google Secures Major Solar Deal for Data Centre Power

    May 20, 2025
    NIBSS and CAC Launch API to Streamline Business Operations

    NIBSS and CAC Launch API to Streamline Business Operations

    May 20, 2025
    Nigeria Plans $2B Fibre Network to Expand Internet Access

    Nigeria Plans $2B Fibre Network to Expand Internet Access

    May 20, 2025
    AI Helps Google One Reach 150 Million Subscribers

    AI Helps Google One Reach 150 Million Subscribers

    May 16, 2025
    FT Lists Paymenow, TymeBank & Omnisient Among Africa’s Fastest-Growing Firms

    FT Lists Paymenow, TymeBank & Omnisient Among Africa’s Fastest-Growing Firms

    May 16, 2025
    • Login

    © 2021 Design By Tech Booky Elite

    Generic selectors
    Exact matches only
    Search in title
    Search in content
    Post Type Selectors
    • African
    • Artificial Intelligence
    • Gadgets
    • Metaverse
    • Tips
    • About TechBooky
    • Advertise Here
    • Submit Article
    • Contact us

    © 2021 Design By Tech Booky Elite

    Discover more from TechBooky

    Subscribe now to keep reading and get access to the full archive.

    Continue reading

    We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.Ok