Flutterwave Becomes Africa’s Most Valuable Startup After $250m Series D

• Nigerian fintech Flutterwave has raised $250 million in a Series D round, raising the valuation of the company to $3 billion from $1 billion last year

• The latest funding means that Flutterwave has now raised $475 million since its inception in 2016

• The Lagos-based company is now the most valuable startup in Africa

Nigerian startup Flutterwave has raised $250 million in a Series D round, which has cause the valuation of the company to triple to more than $3 billion in just 12 months.

In March 2021, the Lagos-based startup announced that it had raised $170 million in a Series C round from Tiger and Avenir, pushing its valuation above $1 billion.

The latest financing which was disclosed by Bloomberg since October last year, means that the company has raised more than $475 million since its inception in 2016. For a breakdown, $35 million was raised in Series B in 2020, while it had $20 million for its Series A funding in 2018.

The current $3 billion valuation now means that Flutterwave is the must valuable African startup, ahead of the likes of Opay  and FTX-backed Chipper Cash, which surpassed $2 billion in valuation last year.

Read also: Nigerian Tech Startup Bamboo Raises $15 Million Series A Funding

Flutterwave which is led by founder and CEO Olugbenga Agboola. Is a platform that facilitates cross-border payments of small to large businesses across Africa.

Also, the company helps companies outside Africa to expand their operations within the continent and some of its international partners are Flywire, Uber, and Booking.com. Techcrunch estimates that over 900,000 business all over the world use Flutterave to process payments in over 150 currencies.

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