Flutterwave – African Online Payments Service Raises $10M in Series A Extension

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Last year, Flutterwave – a digital payments technology service based in Africa had a Series A round in which $10M funding was raised and now they have got another $10M in the extension round raising the total funding amount of Flutterwave to $20.1M. With Flutterwave’s simple APIs, businesses and individuals in Africa can easily make payment integrations with their websites and apps.

Even just launched in 2016, Flutterwave has already processed 100M transactions of payments worth $2.5B which is a great achievement for this young fintech startup. Flutterwave also has business partnerships with Uber, Booking.com, TransferWise and Flywire in Africa.

The latest round of financing includes investments from Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital, among others, and means the startup has now raised over US$20 million to date. Its largest investors include Green Visor Capital and Greycroft Partners.

As part of the financing, current Green Visor capital chairman and general partner, and former Visa chairman and chief executive officer (CEO Joe Saunders, has joined the Flutterwave board of directors.

Flutterwave co-founder Olugbenga Agboola will replace Iyin Aboyeji as CEO.

“On behalf of the entire Flutterwave team we wish Iyin luck in his future endeavors. Moving forward, the entire Flutterwave team and I are excited for Flutterwave’s future and look forward to growing the company,” Agboola said.

Please read the full story at Disrupt Africa.

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