Flutterwave achieves $3b valuation, African fintech highest

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Flutterwave has tripled its valuation to $3 billion after a new $250 million injection in a Series D deal, making the Nigerian startup the crème de la crème fintech with the highest capitalisation in Africa, a continent it dominates in digital payments.

The funding was led by B Capital Group with participation by Alta Park Capital, Whale Rock Capital, Lux Capital, among others; and existing investors including Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital, and Salesforce Ventures.

The fresh deal comes after the last Series C deal in March 2021 led by Tiger Global and Avenir Growth Capital which raised Flutterwave’s valuation to $1 billion.

Olugbenga Agboola, CEO, Flutterwave

The fintech plans to reinforce its drive to transform transactions on the African continent and beyond while also supporting the growth of its own business, innovation, and tech landscape.

The fund will also help Flutterwave accelerate customer acquisition in existing markets and growth through mergers and acquisitions (M&As) as well as develop complementary products.

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