Nigerian fintech powerhouse Flutterwave today announced it has closed a $35 million series B funding. In a statement, the company’s CEO and co-founder, Olugbenga Agboola, revealed the round was co-led by Grey Croft & eVentures with additional participation from CRE Ventures, FIS, Visa, Green Visor and Endeavor.
In an email gotten by TechCity, Agboola said the additional funding will allow Flutterwave to “continue to provide innovative solutions for businesses like yours to make and receive payments seamlessly”.
In a related development, Flutterwave also revealed its latest expansion plans. Agboola said the company plans to expand into regions like Francophone and North Africa.
“We also want to grow our market share in regions we’re present in – East, South, and West Africa so we will be doubling all our efforts in those regions”
Flutterwave’s CEO
TechCity has been reporting developments at Flutterwave. In August 2017, TechCity reported the company raised $10 million from Greycroft Partners and Green Visor. About three months later, it made it possible for Nigerian startups to receive payments via PayPal by integrating the payment service into its platform.
TechCity also reported the expansion of Flutterwave’s Batter app to East Africa with its debut in Kenya. While in October 2018, MasterCard became an investor in Flutterwave.
With the latest series B funding, Flutterwave has now raised funds from both Visa and Mastercard which are the two leading payment services in the world. The company also completed the cycle by integrating its services with Alipay in August 2019.
