Flutterwave, a San Francisco, CA-based technology company that enables businesses across the world to expand their operations in Africa and other emerging markets, raised USD $250m in Series D funding, valuing it at over $3 billion.
The round was led by B Capital Group, with participation from Alta Park Capital, Whale Rock Capital, Lux Capital, and existing investors including Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital, Salesforce Ventures.
The company intends to use the funds to:
- accelerate customer acquisition in existing markets and growth through M&A; and
- develop complementary products while encouraging new innovations in its products and services development.
Led by Olugbenga ‘GB’ Agboola, Founder and CEO, Flutterwave enables businesses across the world to 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 200M transactions worth over USD $16B to date and serves more than 900,000 businesses including customers like Uber, Flywire, Booking.com, etc. The company offers international payment processing in 150 currencies and multiple payment modes including local and international cards, mobile wallets, bank transfers, Barter by Flutterwave etc. Flutterwave has an infrastructure reach in over 34 African countries, including Nigeria, Uganda, Kenya, and South Africa.
FinSMEs
16/02/2022