San Francisco and Lago-based fintech startup company Flutterwave obtained $35 million in capital from the recent Series B funding round. Flutterwave also announced its partnership with WorldPay FIS for bringing comprehensive payment solutions to Africa.
Apart from WorldPay FIS, other investors who provided funding include CRE Venture Capital, Greycroft & eVentures. Visa and Green Visor also participated in the investment round.
Flutterwave is a fintech started founded in 2016. It offers business to business payment solutions and services for companies whose operations are based in Africa. Through their facilities, the company allows African businesses to provide payment and financial support to other companies around the globe.
Of the $35 million Flutterwave garnered from the Series B investment round, it reportedly intends to expand its current services and reach to the public by investing in more technology. Tech Crunch shares that the financial technology facility plans to grow and acquire more market shares in a number of countries it is operating in says chief executive officer Olugbenga Agboola to Tech Crunch.
The business is currently planning to expand in northern and Francophone Africa reveals Reuters.
In a statement, Agboola said, “We don’t just want to be a payment technology company, we have sector expertise around education, travel, gaming, e-commerce, fintech companies. They all use our expertise.”
Agboola also said, “We want to scale in all those markets and be the payment processor of choice. Our business goes beyond payments. People don’t want to just make payments, they want to do something. If you are a charity that wants to raise money for cancer research in Ghana, or you want to sell online, or you’re Cardi B…who wants to do concerts in Africa…we want to be able to set up payments, write the code and create the platform for those needs.”
In an interview with Agboola, Reuters also said the fintech company plans to help “small [businesses] scale their business when they use us as their payment partner.”
In line with the increasing payment solution demands, the financial technology firm will be adding more employees under their roster.
