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Flutterwave
Fintech
Flutterwave is a Nigerian-founded, pan-African fintech company providing payment processing infrastructure that lets businesses accept and send payments across many African countries and currencies.
$1.6B
+$26.54
1,828.34%
30 days ago
$1.45
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Flutterwave was founded in 2016 by Olugbenga Agboola (known as GB) and Iyinoluwa Aboyeji, based on the recognition that businesses seeking to operate and accept payments across multiple African countries faced a highly fragmented payments landscape, with each country typically having its own distinct set of local payment methods, mobile money systems, banking infrastructure, and regulatory requirements, making it difficult and expensive for businesses, whether local African companies or international companies wanting to serve African customers, to build and maintain payment acceptance capability across the continent's many different markets without extensive local payment infrastructure work in each individual country. Flutterwave's platform provides a unified payment processing API that lets businesses accept payments through a wide range of local payment methods across many African countries, including bank transfers, mobile money, and card payments, through a single integration, reducing the need for separate technical integrations across supported payment methods and markets.. The company has built partnerships with major global payment networks and technology companies seeking to reach African markets, positioning itself as critical payments infrastructure connecting African businesses and consumers to both intra-African commerce and international payment flows. Flutterwave has faced periods of public scrutiny, including reported allegations regarding certain financial and operational practices and leadership conduct that the company has disputed and worked to address through governance changes, episodes that drew attention to the broader challenges of scaling governance and compliance practices at a rapidly growing fintech company operating across many different regulatory jurisdictions. The company has continued to expand its product offerings beyond payment processing into additional financial services for businesses, including expense management and cross-border payment tools. Flutterwave has raised very substantial venture funding from investors including Tiger Global, Avenir Growth Capital, and B Capital, reaching a valuation exceeding $3 billion, positioning it among the most prominent fintech companies focused on the African market alongside competitors such as Paystack (owned by Stripe) and Chipper Cash.
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