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

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.

A special thanks to our people, customers, investors, partners, regulators and well wishers for what’s been a challenging, yet fulfilling 4+ years.

Here’s the link to the full press release: https://t.co/t9XzdaXcTi

— Flutterwave (@theflutterwave) March 10, 2021

Say Hello to Flutterwave Mobile, Take your business with you anywhere ? pic.twitter.com/wokrQ6TNcH

— Flutterwave (@theflutterwave) March 10, 2021

Two years later, @theflutterwave had processed over $1Bn in transaction value by making it easier to complete seamless and secure payments across Africa. Today we’re announcing our $170m Series C funding. We’ve come a long way and you made it possible.https://t.co/SgO4hThPf8

— GB ? (@TechProd_Arch) March 10, 2021

We’re grateful for our People, Customers, Investors, Partners, Regulators, the people at @EndeavorNigeria and well wishers. Through your support, we have empowered millions to start their journey to economic freedom, wherever they are, knowing that the world is their market.

— GB ? (@TechProd_Arch) March 10, 2021

Here’s what everyone has to say:

Flutterwave ?
– US $1 Billion Valuation
– Raised $225 million
– 300 staff
– Live in 20 African countries
– Infrastructure reach to 33 countries
– Processed 140 million transactions worth US $ 9 billion
– 290,000 business users
– 500,000 users of its Barter product

In 5 years.

— Tola (@adetolaov) March 10, 2021

Here are some interesting facts from Flutterwave.
1. clients such as https://t.co/OtQ2MHMT30, Facebook, Flywire & Uber
2. company grew more than 100% in revenue within the past year.
3. Introduced Flutterwave store during the pandemic which is live across 15 African countries.

— Moe (@Mochievous) March 10, 2021

Flutterwave’s a unicorn, whew! ??

African payments company Flutterwave raises $170M, now valued at over $1B – TechCrunch https://t.co/ecyUPLbMuf

— 10X Tech Bro (@OdunEweniyi) March 9, 2021

Paystack & Flutterwave show us that the market is actually big enough & that truly, gbo gbo wa la ma je breakfast.??

— Odogwu (@tushgeek) March 10, 2021

If you’re building the next Paystack or Flutterwave abeg let us know in time, I want to be an early stage investor. OK? OK. pic.twitter.com/0RHydzrM7P

— Bisola (@Bisolaaa) March 10, 2021

Big win for FlutterWave, another win for Nigeria and Nigerians. Imagine what would happen if the conditions were better.

— Aproko Doctor (@aproko_doctor) March 10, 2021

Nigeria has a new Unicorn ✅??

and it’s only the beginning… https://t.co/b40PA2X86N

— Kyane Kassiri (@kyanekassiri) March 9, 2021

??? Flutterwave is a UNICORN!

Flutterwave has closed a $170 million series C raise at a $1 billion valuation.

In total, Flutterwave has raised $225 million so far. Well done GB! ⁦@TechProd_Arch⁩

? = ? https://t.co/HwQ9z2S9aJ

— Tola (@adetolaov) March 9, 2021

Big congrats to @TechProd_Arch, @iaboyeji @idrisayobello @asemota and every single person that made Flutterwave happen. This is good news for African tech. A truly African Unicom built in Africa by Africans. What a day!

There will be more!!!

Olu’yomi

— Oluyomi Ojo (@OluyomiOjo) March 10, 2021

Only GTB and Zenith have a higher market cap than Flutterwave, a 5 year old business.

Wa to the wu

— Professor Doni (Retired Nigerian) (@Dolarpo) March 10, 2021

Being a tech bro doesn't only involve coding and all. Tech is broad. Flutterwave has a social media manager. Low key, na tech bro by extension. They have probably content writers, na still tech bro by association.

Designers sef dey, tech bro la won na. Tech broad dear ??

— Your Daddy (@ToyosiGodwin) March 10, 2021

Man first paystack, now flutterwave.. please go and build. If you believe in what you are building, go and build.

— Eche Enziga (@Echecrates) March 10, 2021