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Flutterwave raises $170 million to connect African fintech — Quartz Africa

March 10, 2021 Flutterwave, an Africa-focused payment technology company, has raised $170 million in a Series C round, positioning itself to further connect and capitalize on the continent’s thriving yet highly fragmented digital payment landscape. The round now values the company at more than $1 billion. It was led by the US-based investment firms Avenir Growth Capital and Tiger Global Management, with participation from new and existing investors including DST Global and Salesforce Ventures. The latest funding brings the total investment in the five-year-old company to $225 million. A fragmented industry Africa’s electronic payment industry including card, e-commerce, digital banking transactions and more has exploded in recent years, generating about $20 billion in revenue in 2019, according to McKinsey.

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Flutterwave hits unicorn status after raising $170m from investors 2 other things and a trivia

1. Flutterwave hits “unicorn” status after closing $170m from investors Nigerian payments startup Flutterwave has announced closing a US$170 million Series C funding round, taking its valuation to over US$1 billion. The raised amount is the largest amount ever secured by an African tech startup. The five-year old Fintech player builds modern payments technology and infrastructure for Africa to enable people and businesses connect with the global economy. Reports revealed that the 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. In August 2017, the startup raised US$10 million in Series A funding while it raised another US$35 million Series B in January 2020.

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Nigerian payments startup Flutterwave raises $170m, now valued at over $1bn

Punch Newspapers Sections We may consider possible dual listing in New York, Nigeria –CEO Olugbenga Agboola 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. As reported variously by online platforms, including Tech Crunch and Disrupt Africa, 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, Flutterwave builds modern payments technology and infrastructure for Africa to enable people and businesses to connect with the global economy.

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African fintech company Flutterwave raises $170M, now valued at over $1B

African fintech company Flutterwave raises $170M, now valued at over $1B
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Iyinoluwa aboyejiOlugbenga agboolaAvenir growth capitalEarly capital berrywoodGreen visor capitalGreycroft capitalFinsight venturesSalesforce venturesTiger managementFlutterwave mobileஅவெனிற் வளர்ச்சி மூலதனம்ஆரம்ப மூலதனம் பெர்ரிவுட்பச்சை வைஸர் மூலதனம்நுண்ணறிவு முயற்சிகள்விற்பனையாளர் முயற்சிகள்புலி மேலாண்மை

Daniel Adeyemi | TechCabal

Daniel Adeyemi | TechCabal
techcabal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from techcabal.com Daily Mail and Mail on Sunday newspapers.

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