In a recent Series D funding round led by B Capital Ground, Africa’s leading payments platform, Flutterwave, raised $250 million in funding hiking their total valuation to $3 billion.
Flutterwave has surpassed the $2 billion valuation established by mobile money fintech OPay and FTX-backed cross-border payments platform Chipper Cash last year to become the most valuable African firm at $3 billion.
The new funds will drive Flutterwave’s ambitious expansion plan to accelerate customer acquisition in existing markets and growth through M&A, and develop complementary products while encouraging new innovations in its products and services development as shared in the Flutterwave 3.0 event on Friday.
“We’re becoming what we wanted to be: the infrastructure for any kind of payments,” said Olugbenga Agboola, Founder and CEO of Flutterwave. “There’s no sector you look at today in Africa that you wouldn’t see Flutterwave taking a piece of that and enabling merchants and consumers to grow and scale. We want to change our focus from just Africa to emerging markets and eventually the U.S., the U.K., Europe. Our goal is to ensure that our infrastructure powers those corridors”