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Flutterwave

Flutterwave

A company designing and developing application programming interface payments across Africa.

Flutterwave is a company designing and developing application programming interface payments across Africa that is headquartered in San Francisco, California and was founded in 2016 by Iyinoluwa Aboyeji and Olugbenga Agboola.

Funding

Seed

On May 12, 2016 Flutterwave announced raising $50,000 in seed capital from The FIS FinTech Accelerator in partnership with The Venture Center, CRE Venture Capital, and 4DX Ventures.

Non-equity assistance

On May 23, 2017 Flutterwave announced receiving $50,000 in non-equity funding from the Google Launchpad Accelerator.

Series A

On July 31, 2017 Flutterwave announced raising $10 million in series A funding from Greycroft (lead investor), Green Visor Capital (lead investor), Y Combinator, Reshape, Plug and Play, HOF Capital, and Glynn Capital Management. Iyinoluwa Aboyeji, the CEO and co-founder of Flutterwave, made the following statement regarding the companies series A funding:

We are excited to work with world-class investors who have helped build global payments giants like Visa and Braintree to achieve our mission of building modern payments infrastructure to connect Africa to the global economy.

On October 15, 2018 Flutterwave announced extending their series A funding round with another $10 million in funding from Mastercard, CRE Ventures, Fintech Collective, 4DX Ventures, Raba Capital, and other undisclosed investors. At the time of announcing their series A funding round extension Joe Saunders, the chairman and general partners of Green Visor Capital, joined the Flutterwave Board of Directors, and the CEO of Flutterwave, Iyinoluwa Aboyeji, stepped down as the company's CEO and was replaced with the company's other co-founder Olugbenga Agboola.

Timeline

June 2018

Flutterwave opens an office in Uganda in June 2018 and raises a $10 million Series A round in October.

Funding rounds

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News

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Jake Bright
January 21, 2020
TechCrunch
San Francisco and Lagos-based fintech startup Flutterwave has raised a $35 million Series B round and announced a partnership with Worldpay FIS for payments in Africa. With the funding, Flutterwave will invest in technology and business development to grow market share in existing operating countries, CEO Olugbenga Agboola -- aka GB -- told TechCrunch. The company will [...]
Jake Bright
August 2, 2019
TechCrunch
In July, French television company Canal+ acquired the ROK film studio from VOD company IROKOtv. Canal+ would not disclose the acquisition price, but confirmed there was a cash component of the deal. Founded by Jason Njoku in 2010 -- and backed by $45 million in VC -- IROKOtv boasts the world's largest online catalog of Nollywood: a Nigerian movie [...]
Jake Bright
May 22, 2019
TechCrunch
To become a global fintech player, locate your company in San Francisco and Africa. That's the approach of payments company Flutterwave, digital lending startup Mines, and mobile-money venture Chipper Cash--Africa-founded ventures that maintain headquarters in San Francisco and operations in Africa to tap the best of both worlds in VC, developers, clients, and the frontier [...]

References