Nigeria Fin tech Payment Firm Flutterwave Gets $35 Million Funding

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By Ruth Olurounbi

Flutterwave, an Africa-focused financial-technology company, said it raised $35 million and will work in partnership with WorldPay and Visa as it seeks to expand across Africa.

The startup founded in 2016 and based in San Francisco, will become the African payment provider for Worldpay’s clients worldwide, it said Tuesday in an emailed statement.

“We are excited to be working with our newest commercial partners, Visa and WorldPay FIS, and investors to build the dominant payments platform in Africa,” Flutterwave’s Chief Executive Officer Olugbenga Agboola said Tuesday in an emailed statement.

Flutterwave is the latest payments company operating in Africa’s most populous country of more than 200 million people to secure partnerships with global payments giants. Visa last year bought a 20% stake in leading Nigerian payments provider Interswitch Ltd, raising its valuation to $1 billion.

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Godwin Okafor is a Financial Journalist, Internet Social Entrepreneur and Founder of Naija247news Media Limited. He has over 16 years experience in financial journalism. His experience cuts across traditional and digital media. He started his journalism career at Business Day, Nigeria and founded Naija247news Media in 2010. Godwin holds a Bachelors degree in Industrial Relations and Personnel Management from the Lagos State University, Ojo, Lagos. He is an alumni of Lagos Business School and a Fellow of the University of Pennsylvania (Wharton Seminar for Business Journalists). Over the years, he has won a number of journalism awards. Godwin is the chairman of Emmerich Resources Limited, the publisher of Naija247news.

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