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Flutterwave has Raised a Series C Round of $170m & Everyone is Talking About It

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With a goal to “unite Africa through payments and unlock doors of opportunities for the over 500 million young people in this beautiful continent,” Flutterwave has raised a Series C round of $170m, led by New York-based private investment firm Avenir Growth Capital and U.S. hedge fund and investment firm Tiger Global, to upgrade its technology, product, customer support, expand to new countries and continue to provide the maintenance needed for “everyday mom-and-pop shops” to sell to global markets.

The Series C round which now makes the 5-year-old company valued at over $1 billion, comes a year after it closed its $35 million Series B and $20 million Series A in 2018, processing 107 million transactions worth $5.4 billion which have now increased to over 140 million transactions worth more than $9 billion, TechCrunch reports, adding that Flutterwave has raised $225 million in total, making it one of the few African startups to obtain over $200 million in funding.

Flutterwave, which also supports foreign companies to extend their operations in Africa boasts of international clients like Facebook, Uber, Booking.com and Flywire and, is now live in “20 African countries with an infrastructure reach in over 33 countries on the continent”, CEO Olugbenga Agboola (GB) told TechCrunch.

Other investors who joined the Series C round include Greycroft Capital, DST Global, Green Visor Capital, Early Capital Berrywood, Insight Ventures, Tiger Management and more.

Here’s what everyone has to say:

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