Flutterwave raises $10m for African expansion
Nigerian FinTech Flutterwave announced it has secured $10 million in Series B financing. Four investors contributed to the round: Greycroft Partners, Green Visor Capital, Y Combinator, and Glynn Capital Management. Flutterwave, founded by Iyinoluwa Aboyeji, provides technology, infrastructure, and services to enable global merchants, payment service providers, and pan-African banks to accept and process payments via any channel, including web, mobile, ATMs and POS. The company helps businesses in Africa go global by smoothening the exchange of funds in more than 150 currencies. The company revealed that it intends to use the funds to hire talent, build out its global operations, and accelerate its expansion across Africa.
"At Flutterwave, we believe that as software eats the world, the digital economy will increasingly become the new global economy. On the Internet, anyone can build a global business from anywhere. Yet, for Africans doing business in the digital economy, it is so much harder than it needs to be," said Aboyeji.
"Flutterwave's global payments solutions will make it easier for Africans to participate in the digital economy so you can make and accept payments for whatever you want, in whatever currency or payment method you want, across the globe."