Flutterwave, San Francisco , California-based Africa’s payments technology company, secured USD $170m in Series C funding.
The round, which brought total funding raised to date to USD $225m, was led by Avenir Growth Capital and Tiger Global Management LLC with participation from DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft, Insight Ventures, Salesforce Ventures, Tiger Management, WorldpayFIS, and 9yards Capital.
The company, which is valued at more than USD $1 billion, intends to use the funds to invest inaccelerating customer acquisition in existing and international markets, as well as developing complementary and innovative products such as the newly launched Flutterwave Mobile.
Founded by entrepreneur Olugbenga Agboola in 2016, Flutterwave is a Payments Technology Company that helps businesses all over the world expand their operations in Africa and other emerging markets, through a platform that enables cross-border transactions via one API. The company has processed over 140M transactions worth over USD $9B to date and serves more than 290,000 businesses including customers like Uber, Flywire, Booking.com, Facebook, etc.
Flutterwave has an infrastructure reach in over 33 African countries, including Nigeria, Uganda, Kenya, and South Africa.