Flutterwave provides technology, infrastructure and services to enable global merchants, payment service providers and Pan
African banks. It helps businesses in Africa go global by smoothening the exchange of funds in more than 150 currencies.
• Founded in 2016, headquartered in San Francisco, with primary operations in Lagos, Nigeria.
• We invested in their second Seed Round in October 2016 at a post-money valuation of $10m, right after its graduation from
leading global tech accelerator Y-Combinator.
• In August 2017, Flutterwave raised a $10m Series A round led by Greycroft Partners and Green Visor Capital, having processed
payments to the value of US$1.5 billion, and 14 million transactions
• In October 2018, Flutterwave completed its $10m Series A extension round led by Mastercard, CRE Ventures, Fintech Collective,
4DX Ventures and Raba Capital, at a post-money valuation of $50m. By then it had processed over US$2.3 billion in payments
across 60 million transactions, and partnered with the likes of Standard Bank, First Bank and Ecobank. Clients include Transferwise,
Flywire, Booking.com, JumiaPay and Uber.
• In July 2019, it announced a marquee partnership with Chinese e-commerce company Alibaba’s Alipay to offer digital payments
between Africa and China, allowing all of FW’s merchants to accept or install Alipay as a payment type to accept payments from
AliPay’s 1 billion+ users.
• In January 2020, Flutterwave raised a $35 million Series B round led by Greycroft, eVentures, CRE Venture Capital, Visa, Green
Visor Capital, Endeavor and FIS, at a post-money valuation of $205m. It announced a strategic partnership with Worldpay FIS for
payments in Africa, having processed 107 million transactions worth $5.4 billion in 2019. Flutterwave’s agreement with FIS allows
them to offer the Flutterwave solution as part of Worldpay from FIS payment solutions to its merchant clients in Africa.
• In March 2021, Flutterwave closed a $170m Series C round led by Avenir Growth Capital and Tiger Global, valuing them at over
$1 billion. At the time. Flutterwave was live in 20 African countries, with over 140 million transactions processed worth $9 billion+
• In February 2022, Flutterwave closed a $250m Series D round led by B Capital Group, Alta Park Capital, Whale Rock Capital, Lux
Capital and others, valuing them at over $3 billion. Flutterwave is live in 34 African countries, with over 200 million transactions
processed worth $16 billion+
