Flutterwave Inc. recently announced to its community that it has secured a new capital of $10 million from Greycroft Partners, Green Visor, Y Combinator and Glynn Capital.
According to the company, the new capital will be used to hire more talent, build out its global operations and fuel rapid expansion of the organization across Africa.
The next chapter for Flutterwave
In partnership with Greycroft Partners, Green Visor, Y Combinator and Glynn Capital; Flutterwave is set to build a global payments technology company that changes how the world does business with 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. Without global payments infrastructure a business in Kibera, Nairobi cannot scale across Africa and around the world” said Flutterwave
In the hopeful success of the global payments solutions by Flutterwave, it will be easier for Africans to participate in the digital economy so that Africans can make and accept payments for whatever they want, in whatever currency or payment method they want across the globe.
A brief summary of what Flutterwave is about:
Flutterwave Inc. is a payment startup founded over a year ago by Iyin Aboyeji to build underlying payments infrastructure for African businesses to accept card, mobile money, and bank account payments in a single place.
Rather than implement separate integrations for Card schemes, mobile money networks, e-wallet and bank account payments across Africa, Flutterwave clients can leverage one API(application program interface) integration to ensure end users can pay and get paid anywhere across Africa.
Flutterwave provides end-to-end payments technology and infrastructure that enables payment service providers, global merchants, licensed money transfer operators and Pan-African banks to process payments across all available payments options in Africa. It is a digital payments technology company on a mission to connect Africa to the global economy.
Within a year, Flutterwave has processed payments of $1.2 billion, carried out over 10 million transactions and has 10 Bank partners across Africa.