Nigeria payment firm Flutterwave gets $35 million funding

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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.

Bloomberg News
Payment processing Venture funding Africa
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