IBS Journal: The iconic monthly FinTech magazine

February 2020 issue out now! Subscribe now

Launching India FinTech Report 2020

Market sizing and forecast of Digital Lending, Payments, WealthTech & RegTech. Subscribe now

Leading Back Office Systems for Banks

In-depth Supplier Profiles and User Lists. Subscribe now

In-depth Banking Tech and FinTech Research

Over 300 research reports that's updated quarterly. Subscribe now

Flutterwave rakes in $35 mn in series B, partners with WorldPay

U.S. and Lagos-based FinTech startup Flutterwave has raised a $35 million in Series B round and announced a new partnership with Worldpay FIS for payments in Africa. With the latest investment round, the company’s total funding increased to $55.4 million. The company is planning to use the capital for technology and business developments, to enhance the market share in existing operating countries and for the growth and development of the company’s proprietary platform.

Flutterwave will also expand capabilities to offer more services around its payment products. It has sector expertise in fields other than payment technology which includes education, travel, gaming, e-commerce, FinTech companies.

Flutterwave has grown to become one of the fastest-growing payments companies in the world. Since inception Flutterwave has processed close to $2 billion in payments and 25 million transactions across over 33 African countries where it currently operates. ” said Olugbenga Agboola, CEO of Flutterwave.

In regards to the partnership, The CEO added ” With this partnership, any Worldpay merchant in Europe or the U.S. can accept any African payment. If someone goes to pay Netflix  with an African card, it just works.”

Flutterwave was founded in 2016 with the mission to build payment infrastructures to connect Africa to global economy.  According to the company data, last year the company processed 107 million transactions worth $5.4 billion. The company has clients including Uber, Max.ng, Wakanow, Booking.com and e-commerce company Jumia.

Related Posts