Flutterwave, a fintech firm, recently revealed that it has raised $250 million in a Series D fundraising round. The startup’s worth increased to almost $3 billion as a result of the investment round, which attracted worldwide investors.
Flutterwave’s Expansion Plans Have Raised Capital
Flutterwave, a Nigerian financial firm, recently announced a $250 million Series D fundraising round. The fintech firm’s valuation increased to over $3 billion following the latest capital raising spearheaded by B Capital Group.
Flutterwave plans to utilize the funds generated to fund its “ambitious expansion plan to accelerate client acquisition in existing areas and growth through M&A,” according to a statement on the remittance and payments service provider’s blog. The fast-growing financial business also stated that the funding will be used to “create complementary goods while promoting new breakthroughs in its product and service development.”
Flutterwave has confirmed its newest capital investment, which comes exactly a year after the finance startup raised $170 million. Flutterwave is one of the African fintech businesses with a valuation above $1 billion as a result of the capital raise. Since its establishment in 2016, Flutterwave has raised a total of $475 million, including its current capital transaction.
Global Support for Flutterwave
Olugbenga Agboola, founder and CEO of Flutterwave, discusses the company’s path and how renowned international investors are drawn to the startup in statements made following the latest capital raise. He said, as quoted in the blog post:
“We set out to create a platform that makes payments easier for everyone, and our solutions are now utilized all over the world to link Africans to the rest of the world and the rest of the world to Africans… This current round of funding illustrates the belief of some of the world’s most prestigious investors in both our company concept and team, as well as the African technology sector.”
Glynn Capital managing partner David Glynn expressed his firm’s enthusiasm for “helping the company Flutterwave as it confronts its huge development opportunity in the years ahead.”
Apart from B Capital Group, which led the round, Glynn Capital, which has been a Flutterwave investor since 2017, also took part. Alta Park Capital, Whale Rock Capital, and Lux Capital were among the other investors.
