Flutterwave Raises $250 Million in Series D Funding Round, Startup Now Valued at Over $3 Billion – Fintech Bitcoin News

Fintech startup, Flutterwave, announced it raised $250m from Series D. The funding round, which attracted international investors, saw the startup’s value rise to over $3 billion.

Capital Raised to Fund Flutterwave’s Expansion Plans

Flutterwave is a Nigerian fintech startup that recently raised $250 Million in Series D financing. The latest capital raise, led by B Capital Group, saw the fintech firm’s valuation increase to over $3 billion.

According to a statement on the remittance and payments service provider’s blog, Flutterwave is planning to use the capital raised to drive its “ambitious expansion plan to accelerate customer acquisition in existing markets and growth through M&A.” In addition, the fast-growing fintech startup said it will use the funds to “develop complementary products while encouraging new innovations in its products and services development.”

Flutterwave’s confirmation of its latest capital raise comes almost twelve months after the fintech startup successfully raised $170 million. Flutterwave became one of Africa’s top fintech startups after that capital raise. Its valuation exceeded $1 billion. Flutterwave raised $475million in total capital raisings since 2016.

Flutterwave’s Global Backing

In remarks following the latest capital raise, Olugbenga Agboola, founder and CEO of Flutterwave, explains the company’s journey and how prominent international investors are attracted to the startup. In the blog post, he stated:

“We set out to build a platform that simplifies payments for everyone and today, our solutions are used across the globe to connect Africans to the world and the world to Africans … This latest funding demonstrates the conviction of some of the world’s leading investors in both our business model, team and the Africa technology market.”

For his part, David Glynn, the managing partner of Glynn Capital, said his firm was looking forward “to supporting the company [Flutterwave] as it addresses its significant growth opportunity in the years ahead.”

Glynn Capital was also present, in addition to B Capital Group who led the financing round. Glynn Capital has been an investor since 2017 and is now a participant. Alta Park Capital and Whale Rock Capital were also present.

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Terence Zimwara

Terence Zimwara was a Zimbabwe award-winning journalist and author. He is a prolific writer on the economic woes of African countries, as well as digital currencies that can be used to provide an escape path for Africans.