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More than $200 million in funding
Flutterwave Africa, one of the leading payment technology firms in Africa, has raised more than $200 million. The new funds will help the company to introduce new products and accelerate its hiring.
In addition to its core business in payments, Flutterwave also offers other services. It allows businesses to tap into their customers’ financial accounts through APIs. This will allow them to customize their own payment applications. They also offer mobile wallets and bank transfers.
In the past three years, Flutterwave has raised more than $225 million. Their latest funding round was led by Boston-based hedge fund Whale Rock Capital Management. Other participants include Tiger Global, Insight Partners, and Greycroft Capital.
Flutterwave is an African-founded startup that specializes in consumer transfers and business-to-business payments. Currently, the company has more than 500,000 users and processes more than 140 million transactions valued at nearly $9 billion.
They recently closed a Series D round for $250 million. This represents the company’s single largest funding round to date. It tripled the value of the firm in less than a year.
Expanding into remittances
The African payments technology company Flutterwave recently raised $170 million in a Series C round. This will help the company expand into remittances. Its products include Send, a remittance service that allows people around the world to send money to recipients in Africa. They also have products for merchants, like Flutterwave Mobile, which will help accelerate e-commerce growth.
With the money, Flutterwave will be able to expand into new countries in Africa, including Morocco and Egypt. It will also be able to use the funds to upgrade its technology. In addition, it will invest in new products and services for both consumers and businesses.
With a valuation of over US$3 billion, Flutterwave is one of the most valuable startups in Africa. The company, founded by entrepreneur Olugbenga Agboola, is poised to become one of the earliest unicorns in Africa.
For most African countries, remittances remain very important. However, costs have historically been prohibitive. But Flutterwave’s payment infrastructure is set to bring down costs for remittances.
Partnerships with smaller companies
Flutterwave, an African fintech startup, recently raised a new round of funding. According to the company’s CEO, Olugbenga Agboola, the funds will be used to expand and harmonise Africa’s digital payments landscape.
Flutterwave is a Nigeria-based startup that offers business-to-business payments solutions in Africa. Its main product is the Flutterwave Store, which allows merchants to sell their products online. The company has also launched a consumer payment solution, Barter. These services are predominantly used in Nigeria, but Flutterwave has expanded into Egypt and Morocco.
In September, the company inked a deal with Airtel Money, a payments platform that serves 19.2 million East African customers. MTN Group, one of the biggest telecommunications companies in the world, has also joined the Flutterwave family.
The company, which is currently valued at $1 billion, is a leading provider of business-to-business payments in Africa. A year ago, it served 290,000 businesses globally.
It has received more than $475 million in funding to date. Most of the company’s staff is located in Nigeria and the United Kingdom.
Sponsorship deal with Basketball Africa League
The Basketball Africa League (BAL) is a professional basketball league that will begin its second season in May. It is a 12-team league that will be played in three African cities. The season will feature the top club teams from 12 African countries.
It will also be broadcast by ESPN Africa and ESPN2 and feature 45 regular season games live during the weekend. A number of other media partners will also be involved in the league.
The NBA has a long history in Africa. Since opening its first African headquarters in Johannesburg, South Africa, it has focused on enhancing access to basketball and boosting youth development. Now, the league has plans to leverage on its newfound popularity to boost African players’ careers in the NBA.
In addition to NBA sponsorships, the league has also secured a number of international sponsors. These include major brands such as Nike, Ford, GE, Marriott, Pepsi, and Zamalek. They are joined by 10 diverse African firms.