With $250M Series D, Flutterwave Now Valued at $3Billion

With $250M Series D, Flutterwave Now Valued at $3Billion

African fintech company, Flutterwave has just tripled its valuation to more than $3 billion in only twelve months, after securing $250 million in a Series D round.

The company had earlier raised $170 million Series C from Tiger Global and Avenir in March 2021, valuing at $1 billion. It also raised a $35 million Series B in 2020 and a $20 million Series A in 2018.  The latest financing now brings Flutterwave’s total raise since inception six years ago to $475 million. 

At $3 billion, Flutterwave is currently the highest valued African startup, surpassing the $2 billion valuations set by SoftBank-backed fintech OPay and FTX-backed cross-border payments platform Chipper Cash last year.

New investors that participated in the funding include B Capital Group, Alta Park Capital, Whale Rock Capital, Lux Capital, and others. 

The new fund will help Flutterwave acquire more customers in existing markets and grow through mergers and acquisitions. It will also help the company make new products and come up with new ideas for its products and services.

Read Also: Flutterwave Secures $170 Million in Series C Funding, Now Valued at over $1 Billion

Led by Olugbenga “GB” Agboola, Founder and CEO of the African fintech, Flutterwave facilitates cross-border payments transactions of small to large businesses in Africa via one API. The company also helps businesses outside Africa expand their operations on the continent. 

Olugbenga Agboola has these to say about the new development:

”Our story is that of resilience and hard work. Our growth so far is due to the support of our customers, our partners, the banks, the public, the regulators, and importantly our people. The Central Bank of Nigeria, under the leadership of Dr Godwin Emefiele, laid the vision of a transformational Payment System in Nigeria, provided the framework for innovation in this space, and has continued to create regulations that have enabled us to grow and thrive. We are grateful to them and to all the other Central Banks in all the countries where we operate.

We set out to build a platform that simplifies payments for everyone and today, our solutions are used across the globe to connect Africans to the world and the world to Africans. We are delighted that investors believe in us and our story and are committing their resources to this belief. This latest funding demonstrates the conviction of some of the world’s leading investors in both our business model, team and the Africa technology market. It gives Flutterwave the much-needed support to deliver on our plans to provide the best experience for our merchants and customers around the world”

Congratulations to Flutterwave on breaking new ground in the African fintech space.