Flutterwave Gets Fresh $35m to Expand Market Share

By Modupe Gbadeyanka

A $35 million Series B funding round has been secured by Flutterwave, Cofounder and CEO of the tech firm, Mr Olugbenga Agboola, announced on Tuesday.

In a message personally signed by him, Mr Agboola said the funding round was co-led by Grey Croft and eVentures with additional participation from CRE Ventures, FIS, Visa, Green Visor and Endeavor.

He also said the company was planning to expand into regions like Francophone and Northern Africa, stating that, “We also want to grow our market share in regions we’re present in – East, South, and West Africa so, we will be doubling all our efforts in those regions.”

According to him, “With this capital from our investors, we will be able to continue to provide innovative solutions for you to make and receive payments seamlessly.”

“As always, our goal remains the same, we want to continue to connect Africa to the rest of the world by making sending and receiving payments as frictionless as possible for banks, businesses and individuals,” he added.

Mr Agboola attributed the successes recorded so far by the company to “keeping our customer’s needs and growth at the heart of everything we do as a company.”

“We have had our ups and downs – it comes with the territory – but the journey has also been highly rewarding for me and the entire team at Flutterwave.

“You have been with us through all of this – our first clients, our partnership announcements, our Series A round of investments, our partnership with Alipay and so much more,” he also said.

The respected entrepreneur stated that, “As at last year, we had processed $5.4 billion for businesses and individuals as a result of that trust,” while concluding that, “You can rest assured that we will only continue to improve on our service offerings which you have come to love.”

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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