Flutterwave raises $35m Series B funding, partners World Pay
Nigerian fintech company, Flutterwave has raised $35 million from a Series B round. The startup also announced a partnership with World Pay FIS and Visa as it looks to expand into northern and Francophone Africa.
Flutterwave, founded in 2016, provides innovative solutions for businesses and individuals to make and receive payments seamlessly.
“We have built a technology infrastructure that is steadily being recognized as the bridge to connect the payment system,” Flutterwave’s founder and chief executive GB Agboola told Reuters.
“We are excited to be working with our newest commercial partners, Visa and WorldPay FIS, and investors to build the dominant payments platform in Africa.”
The funding round was co-led by Grey Croft & eVentures with additional participation from CRE Ventures, FIS, Visa, Green Visor and Endeavor.
Flutterwave’s global expansion comes after it partnered with Alibaba’s Alipay to offer digital payments between Africa and China.
After processing $5.4 billion for businesses and individuals in 2019, Flutterwave hopes to grow its market share in regions they are present in – East, South, and West Africa.