Award-winning payments technology company, Flutterwave has announced the completion its Series A Extension round of financing. The latest round of financing includes investments from Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, and Raba Capital, among others. Flutterwave has now raised over $20 million to date and its largest investors include Green Visor Capital and Greycroft Partners.
As part of the financing, current Green Visor Capital Chairman & General Partner and former Chairman & CEO of Visa, Joe Saunders, joined the Flutterwave Board of Directors.
In a separate development, Flutterwave CEO, Iyin Aboyeji, has stepped down to pursue family goals. In a farewell message, Iyin Aboyeji thanked the Flutterwave board and team.
“It’s been amazing working with the Flutterwave team to build another great African company and I’m excited for the future under its new leadership.”
Flutterwave Co-Founder, Olugbenga Agboola, will replace Iyin Aboyeji as CEO. Olugbenga Agboola is a Financial Technology Engineer, with core financial services technology experiences with Paypal, Google, GTBank, Access Bank, Standard /StanbicIBTC Bank
“On behalf of the entire Flutterwave team, we wish Iyin luck in his future endeavours. Moving forward; the entire Flutterwave team and I are excited for Flutterwave’s future and look forward to growing the company,” said Olugbenga Agboola, Flutterwave CEO.
In August 2018, the company received a nod from the Central Bank of Nigeria (CBN) for its Unstructured Supplementary Service Data (USSD) technology product. The apex bank granted approval for this solution, following the release of an official company statement. The USSD service was to enable its enterprise and retail customers layer their products on this infrastructure.
Headquartered in San Francisco, Flutterwave is building modern payments technology and infrastructure for Africa to enable people and businesses to connect with the global economy.
Much like in mobile communications, Africa is leapfrogging traditional payments technology and Flutterwave is building the Pan-African infrastructure to become the standard bearer for modern payments. Flutterwave’s API makes it easier for almost 24,000 businesses and individuals using its solution to process payments across Africa. The African market, marked by increasing cross-border requirements, multi-instrument and channel payments, and a drive for financial inclusion is primed for Flutterwave’s unique vision and offering.