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Groundbreaking! Flutterwave is Now Valued at $3B



With the completion of a $250 million Series D financing, Africa’s fintech company, Flutterwave, increased its worth to more than $3 billion in only twelve months, more than doubling its previous valuation.

It secured $170 million from Tiger Global and Avenir in March 2021, valuing the company at $1 billion. Flutterwave has raised $475 million since it was founded six years ago. It also raised a $35 million Series B in 2020 and a $20 million Series A in 2018. B Capital Group, Alta Park Capital, Whale Rock Capital, Lux Capital, and other investors have joined the Nigerian unicorn’s new investors.

The new fund will help Flutterwave move quickly to get more customers in existing markets and grow through mergers and acquisitions. It will also help Flutterwave make new products and come up with new ideas for its products and services.

Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said:

Our story is that of resilience and hard work. Our growth so far is due to the support of our customers, our partners, the banks, the public, the regulators, and importantly our people. The Central Bank of Nigeria, under the leadership of Dr. Godwin Emefiele, laid the vision of a transformational Payment System in Nigeria, provided the framework for innovation in this space, and has continued to create regulations that have enabled us to grow and thrive. We are grateful to them and to all the other Central Banks in all the countries where we operate.

We set out to build a platform that simplifies payments for everyone and today, our solutions are used across the globe to connect Africans to the world and the world to Africans. We are delighted that investors believe in us and our story and are committing their resources to this belief. This latest funding demonstrates the conviction of some of the world’s leading investors in both our business model, team and the Africa technology market. It gives Flutterwave the much-needed support to deliver on our plans to provide the best experience for our merchants and customers around the world.

Flutterwave, according to Matt Levinson, Partner at B Capital, has a unique chance to do this as the leading payments infrastructure provider throughout Africa.

“In addition to their emergence as the leading enterprise payments processor for the continent, Flutterwave is innovating at breakneck speed with novel fintech solutions for large corporates, SMEs and consumers. I’ve had the pleasure of backing this world-class team since 2017 and couldn’t be more thrilled that B Capital is leading their Series D.

“Flutterwave may ultimately build one of the most consequential fintech businesses in the world, enabling hundreds of thousands of merchants to transact online and connect Africa to the global economy.”

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