Flutterwave

Financial that-startup Flutterwave, founded in 2016 by a team of entrepreneurs and engineers, is engaged in the development of a platform with which the business creates customized payment applications based on its own. API Flutterwave also provides customers with a technology infrastructure and processes transactions. By March 2021, Flutterwave employs more than 300 employees. Startup representative offices operate San Francisco in and Lagos.

History

2021: Attracting $170 million of investments

In early March 2021, African financial that-startup Flutterwave announced the attraction of $170 million in investments as part of the Series C round. The startup cost exceeded $1 billion, which allowed it to join the ranks of unicorns.

The investment round was led by private investment company Avenir Growth Capital and the American hedge fund Tiger Global. Among the new and existing investors who have invested in Flutterwave are the fund of Yuri MilneradST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Partners, Salesforce Ventures, Tiger Management, Worldpay and Arldpay Capital.

DST Global Yuri Milner invested in the Flutterwave service, which helps businesses create payment applications

According to Flutterwave, more than 290 thousand enterprises use the startup platform for making payments. Users can make transactions in 150 currencies, several payment forms are supported, including local and international bank cards, mobile wallets, bank transfers, as well as the Barter service from Flutterwave. By March 2021, according to the startup itself, over 140 million transactions worth more than $9 billion were processed.

Flutterwave plans to direct the funds raised to expand the customer base, as well as the development of existing ones (including the Barter service, which has more than 500 thousand users by March 2021) and the creation of new products. One of the latter is the decision of Flutterwave Mobile, which, according to the CEO of the startup Olugbeng Agboola, "turns merchants' mobile devices into sales points, allowing them to accept payments and make transactions."^[1]

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