Flutterwave is a Nigerian fintech startup founded in 2016 with headquarters in Lagos and San Fransisco that facilitates international transactions in multiple currencies to simplify payment processes for companies such as Uber Technologies Inc., Booking.com, and Alibaba’s Alipay.
It is now the highest valued African startup with a USD 3 billion valuation after raising $250 million in its single-biggest funding round to date. Flutterwave has surpassed the $2 billion estimations established by mobile money fintech OPay and FTX-backed cross-border payments platform Chipper Cash. Flutterwave is amongst the top six African startups worth over USD 1 billion.
In addition to payments products, it has an online marketplace and lends to small businesses. It is the most prominent African payment startup, processing 200 million transactions worth over $16 billion for 150 currencies in over 34 countries. It has over 300,000 companies using its services.
The new funds will accelerate Flutterwaves’ customer acquisition in existing markets, develop complementary products, and motivate more innovations in its product and service development. Flutterwave aims to expand to other emerging markets in Latin America and economies linked to Africa like the US, UK, United Arab Emirates, and Canada.