Flutterwave, a Nigeria-based fintech giant recently raised $250 Million in its Series D funding which is the highest investment they have been able to raise after the $170 million of Series C funding, which brings their total valuation to over $3 billion.
According to the company, this new funds would be used to expand the company’s plans in the area of acquisition of existing markets and growth through mergers and acquisition (M&A) as well as develop complementary products. Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave said in one of his statements that “We set out to build a platform that simplifies payments for everyone and today, our solutions are used across the globe to connect Africans to the world”. Olugbenga also highlighted in the linkedin post “We are one step closer to enabling endless possibilities for Flutterwave. Today, we announce one of our biggest milestones ever – our $250M Series D funding led by B Capital Group.
We have always been clear about our goals at Flutterwave, we want to make it easy for a customer in Nairobi to pay a business in Lagos seamlessly. So this achievement is dedicated to the thousands of businesses and millions of individuals who trust us and keep us going.
With over five years of active operation Flutterwave has processed over 200 million transactions worth over $16 billion to date across 34 countries in Africa. It also follows a year of rapid growth for the brand which now serves over 900,000 businesses across the globe.
This round will see Flutterwave acquiring different promising startups across Africa and also merging with global giants in the payment market.
It also worth noting that Flutterwave raised $35Million series B in 2020 in a plan to expand its market to other African countries and in partnership with Worldpay.
As one of the biggest fintech company in Africa, the funds will help create a dramatic shift in the payment services industry.