Nigeria’s payments firm, Flutterwave, is in talks with investors, seeking for fresh funding that will triple its valuation to $3 billion or more.
However, terms of the funding round haven’t been finalized yet, as Bloomberg reports.
The company in March said it had achieved unicorn status after raising $170 million in its Series C funding round. Also in March, Flutterwave said it will collaborate with PayPal Holdings Inc. to enable the U.S. giant’s global customers to pay African merchants using its platform.
The startup, which facilitates cross-border transactions across Africa for companies including Facebook Inc., Uber Technologies Inc. and Booking.com had processed more than 140 million transactions worth over $9 billion in aggregate as at March.
Earlier this month also, Airtel Money signed a partnership with the startup, aimed at enhancing payment and transaction options for businesses across Eastern Africa. The partnership will allow businesses integrating Flutterwave in Uganda, Tanzania, Zambia, Malawi, Kenya and Rwanda, to receive payments from Airtel Money customers, as well as make bulk payments into Airtel Money wallets.