Flutterwave has raised $250 million in its Series D funding, increasing its valuation to over $3 billion. It now becomes the highest valued African start-up.
Investors who took part in this funding round include B Capital Group, Alta Park Capital, Whale Rock Capital, Lux Capital, Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital, and Salesforce Ventures.
The firm says it will use the funding to accelerate customer acquisition in existing markets and growth through M&A, and develop complementary products while encouraging new innovations in its products and services development.
In the past five years, Flutterwave has been on a mission to create endless possibilities for customers and businesses in Africa and the emerging markets.
The firm has also partnered with leading global and pan-African technology and telecommunication companies such as PayPal, MTN, Airtel Africa to drive financial inclusion on the continent and create endless possibilities for customers who can build customisable payment applications through its APIs.
To date, Flutterwave has processed over 200 million transactions worth over $16 billion, and serves more than 900,000 businesses including customers like Uber, Flywire, Booking.com, etc.
Flutterwave has an infrastructure reach in over 34 African countries, including Nigeria, Uganda, Kenya, and South Africa.