In March 2021, the startup raised USD 170 million in a Series C round from Tiger Global and Avenir at a valuation of USD 1 billion. The latest financing brings Flutterwave’s total raise since its inception six years ago to USD 475.
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. Some of its international clients include Booking.com, Flywire, and Uber.
After scaling its payments product across sub-Saharan Africa, Flutterwave has expanded its services up north to Egypt and Morocco. Expanding into these countries is the first step of Flutterwave’s move into emerging markets such as the Middle East and Latin America.
The new capital gives Flutterwave ammunition to develop more complementary products. It will also help the company speed up customer acquisition in existing markets and grow through M&As.
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