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    Nigerian startup Flutterwave secures $170 million in capital injections from investors, now valued at over $1 billion

    Flutterwave, an African fintech startup has secured $170 million in capital injections from investors, the firm said in a statement Today.

    The new capital flows — facilitated by “a leading group of international investors” — will bolster Flutterwave’s client base in the global market, the statement said.
    “The fundraise brings the total investment in Flutterwave to USD $225 million and is one of only a very small number of African fintech companies to have raised significant funds in a period of widespread disruption and economic uncertainty,” the statement added.
    Founded in 2016, Flutterwave provides digital payment services for small businesses in Africa. Its Nigerian chief executive, Olugbenga Agboola, said on social media Wednesday that the tech firm had aimed to “build a payments technology infrastructure that connects Africa to the global economy by making local and international payments seamless.”
    “We knew this would be incredibly difficult but we continued,” he added, in a Twitter thread Wednesday morning.
    The fintech company — famed for its “seamless and secure” payments system — has gone on to process in excess of $1 billion in transaction value, Agboola said.
    Flutterwave is renowned for creating a digital store — helping SMEs to remain in business — in the wake of Covid-19 lockdowns.
    More than 1,000 SMEs across Africa have signed up to display and sell their products online using the Flutterwave store.
    Source: CNN

    Latest Posts

    Tinubu appoints governing board members for 111 tertiary institutions

    President Bola Tinubu has approved the appointments of at least 555 persons to serve as Pro-chancellors/Chairmen and members of Governing Boards of 111 federal...

    Burkina Faso, Mali, Niger form new confederation after exiting ECOWAS

    Burkina Faso, Mali, and Niger have finalised plans to form a new confederation, the Confederation of the Alliance of Sahel States, marking a geopolitical...

    Emefiele trial: How I paid $600,000 bribe to ex-CBN staff for contract, witness tells court

    A contractor with the Central Bank of Nigeria, Victor Onyejiuwa, on Friday, told the Lagos State Special Offences Court in Ikeja that he had...

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    The 2023 presidential candidate of the Peoples Democratic Party, Atiku Abubakar, has said that if in 2027, the party decides that it is the...

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