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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

    Why we burned N194bn worth of cocaine—FG

    The Federal Government, on Wednesday, said the National Drug Law Enforcement Agency, incinerated the N194bn worth of cocaine it seized from a drug racket...

    ObiDatti rally: Court rules against occupying Lekki Toll-Gate

    The Labour Party’s #ObiDatti23 Forward Ever Rally scheduled to be held on October 1, 2022, suffered a setback on Wednesday as a Federal High...

    Omah Lay reportedly splashes N500 million on new property

    Singer Omah Lay has reportedly acquired a brand new property. According to a Twitter post shared by one of the hit music star’s associates, the...

    Court denies Lawan, declares Machina’s APC senatorial candidate

    The Federal High Court sitting in Damaturu has ordered the All Progressives Congress and the Independent National Electoral Commission to recognise Bashir Machina as...

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