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§ Private Profile · Lagos, Nigeria
Payment processing platform enabling businesses to process payments across Africa and globally via a single API.
Flutterwave is a Lagos, Nigeria and San Francisco-based financial technology company that provides payment processing infrastructure to facilitate cross-border transactions across Africa and broader global markets. The platform utilizes a single API to support transactions in over 150 currencies across more than 34 countries, serving an active commercial customer base of over 300,000 businesses. Operating with approximately 500 employees, the enterprise has processed more than 200 million transactions representing over $16 billion in total value, ultimately achieving a valuation exceeding $3 billion. The organization maintains its international payment network through strategic partnerships with major financial institutions including Visa, Mastercard, and First Bank of Nigeria, while also expanding its regional footprint by acquiring the open-banking startup Mono in an undisclosed all-stock deal. Flutterwave was originally founded in 2016 by entrepreneurs Olugbenga Agboola, Iyinoluwa Aboyeji, and Adeleke Adekoya.
Flutterwave has raised $475.2M across 6 funding rounds.
Key people at Flutterwave.
Flutterwave was founded in 2016 by Olugbenga GB Agboola (Founder) and Adeleke Adekoya (Founder).
Flutterwave has raised $475.2M in total across 6 funding rounds.
Flutterwave has raised $475.2M across 6 funding rounds. Most recently, it raised $250.0M Series D in February 2022.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 13, 2024 | Piggyvest | $3.0M Other Equity | Flutterwave | — |
Key people at Flutterwave.
Flutterwave was founded in 2016 by Olugbenga GB Agboola (Founder) and Adeleke Adekoya (Founder).
Flutterwave has raised $475.2M in total across 6 funding rounds.
Flutterwave's investors include B Capital Group, Bond, Insight Partners, IVP, Left Lane Capital, Menlo Ventures, Carmen Chang, Paradigm, Sapphire Ventures, Sequoia Capital, Tiger Global Management, Jehan Chu.
Flutterwave is a leading African fintech company that builds payment infrastructure enabling businesses to make and accept payments seamlessly across Africa and globally. Its platform supports multiple payment methods—including cards, mobile money, bank transfers, and e-wallets—across more than 33 African countries and over 150 currencies. Flutterwave serves a diverse clientele ranging from small startups and e-commerce merchants to large enterprises and banks, facilitating cross-border commerce and financial inclusion. The company’s mission is to provide reliable, scalable, and secure payment solutions that empower African businesses to participate fully in both continental and international markets[1][2][5].
Founded in 2016 by Nigerian entrepreneur Olugbenga Agboola and a team of finance and technology veterans with backgrounds from Standard Bank, PayPal, and Google Wallet, Flutterwave emerged to solve the fragmented and complex payments landscape in Africa. The founders were motivated by the inefficiencies African businesses faced in accepting payments across borders. Early traction came from launching Rave, a payment system that allowed businesses to accept payments from customers worldwide, which helped thousands of merchants transition from cash-based to digital payments. The company has since expanded its product suite and geographic reach, securing Nigeria’s highest payment processing license in 2022 and growing into a pan-African fintech powerhouse[1][4][5].
Flutterwave rides the wave of Africa’s rapidly expanding digital economy, driven by a young, tech-savvy population and increasing internet penetration. The timing is critical as African businesses and international companies seek seamless payment solutions to tap into the continent’s growing markets. Flutterwave’s unified platform addresses the continent’s fragmented financial infrastructure, enabling borderless commerce and financial inclusion. By simplifying payments, it accelerates digital transformation across sectors such as retail, travel, hospitality, and digital services, and supports the rise of African startups and scale-ups in the global economy[2][3][6].
Looking ahead, Flutterwave is poised to deepen its footprint across Africa and beyond by expanding its product offerings and enhancing cross-border payment capabilities. Trends such as increased digital adoption, mobile money growth, and regional economic integration will shape its trajectory. Flutterwave’s influence is likely to grow as it continues to enable businesses—from solopreneurs to enterprises—to participate in the global digital economy with ease. Its role as a foundational payments infrastructure provider positions it to be a key enabler of Africa’s digital commerce future[2][4][6].