Nigerian end-to-end payment platform Flutterwave today announced it has completed Series A Extension round of financing involving Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital, among others.
In a statement, the company said the latest development raises the total fund raised to over $20 million with Green Visor Capital and Greycroft Partners as largest investors.
As part of the financing, current Green Visor Capital Chairman & General Partner and former Chairman & CEO of Visa, Joe Saunders, joined the Flutterwave Board of Directors.
Flutterwave’s message is that it is building modern payments technology and infrastructure for Africa to enable people and businesses to connect with the global economy. It is already operating in Ghana, Kenya, Nigeria, South Africa; the company is also planning to launch in Uganda.
CEO’s exit
In a related development, the CEO of the company Iyin Aboyeji announced he is leaving the company
He said in a statement: “It’s been amazing working with the Flutterwave team to build another great African company and I’m excited for the future under its new leadership.”
“Over the next few months as I figure out what is next, I’ll be catching up to sleep, spending time with my family an supporting and advising startups in our community.”
In a statement, Flutterwave said the company’s co-founder, Olugbenga Agboola, will replace Iyin Aboyeji as CEO.
Olugbenga Agboola is a Financial Technology Engineer, with core financial services technology experiences with Paypal, Google, GTBank, Access bank, Standard /Stanbic IBTC Bank.
He said in a statement: “On behalf of the entire Flutterwave team we wish Iyin luck in his future endeavours. Moving forward; the entire Flutterwave team and I are excited for Flutterwave’s future and look forward to growing the company.”