Flutterwave Raises $10 million in Series A Funding Round from Greycroft Partners and Green Visor
Greycroft Partners and Green Visor have led a Series A funding round of over $10 million in Flutterwave. They will be investing alongside existing investors like Y Combinator and new investors like Glynn Capital.
Flutterwave, a mobile payment processing company founded by 26-years old Nigerian tech-entrepreneur, Iyinoluwa Aboyeji aims to use the capital raised to hire more talent, build out our global operations and fuel rapid expansion of our organization across Africa.
“Today, the results of our work in enabling rapid growth for African businesses speak for themselves; $1.2 billion in payments processed. Over 10 million transactions. 10 Bank Partners across Africa. All in just a little over a year of operations. Together with you — our community, our investors, our customers, our supporters, our partners and our family — we have built one of the fastest growing payments companies of all time.” Says Aboyeji.
Next Chapter for Flutterwave
Flutterwave is building a global payments technology company that will change how the world does business with Africa.
In other to make this innovative idea come to fruition, they’ve partnered with Greycroft, Green Visor, Glynn Capital and Y Combinator — the same teams that helped fund and build global payments giants like Braintree, Stripe, Xoom, Square and Visa.
State of e-Payment in Africa
Only about three percent of adults in Africa report having a credit card.
Global technology companies like Facebook, Google and Amazon can’t do business across Africa because they are unable to accept more popular local payment methods like bank accounts and mobile money. Only 4% of African businesses accept digital payments.
Flutterwave’s global payments solutions will make it easier for Africans to participate in the digital economy so you can make and accept payments for whatever you want, in whatever currency or payment method you want, across the globe.