Fintech startup Flutterwave announced recently that it has raised $250 million from its Sequence D funding round. The funding round, which attracted world investors, saw the startup’s price rise to over $3 billion.
Capital Raised to Fund Flutterwave’s Growth Plans
The Nigerian fintech startup Flutterwave recently announced it raised $250 million in a Sequence D funding round. Primarily the latest capital carry, led by B Capital Workers, saw the fintech company’s valuation magnify to over $3 billion.
Per a statement on the remittance and funds provider provider’s blog, Flutterwave is planning to make employ of the capital raised to pressure its “ambitious expansion concept to scoot buyer acquisition in gift markets and pronounce by M&A.” As well to, the short-rising fintech startup said this can employ the funds to “form complementary merchandise whereas encouraging novel innovations in its merchandise and providers pattern.”
Flutterwave’s confirmation of its newest capital carry comes nearly twelve months after the fintech startup successfully raised $170 million. That capital carry resulted in Flutterwave turning into truly one of many African fintech startups with a valuation exceeding $1 billion. After this newest capital carry, Flutterwave has now raised a total of $475 million since its inception in 2016.
Flutterwave’s World Backing
In remarks following basically the latest capital carry, Olugbenga Agboola, founder and CEO of Flutterwave, explains the firm’s hurry and the way prominent world investors are attracted to the startup. Quoted within the blog post, he said:
“We location out to construct a platform that simplifies funds for everybody and today, our solutions are used across the globe to glue Africans to the enviornment and the enviornment to Africans … This newest funding demonstrates the conviction of some of the enviornment’s leading investors in each and each our industry model, personnel and the Africa expertise market.”
For his segment, David Glynn, the managing accomplice of Glynn Capital, said his company became as soon as taking a behold ahead “to supporting the firm [Flutterwave] as it addresses its well-known pronounce opportunity within the years ahead.”
Moreover B Capital Workers, which led the funding round, Glynn Capital, an investor in Flutterwave since 2017, additionally participated. Other participants included Alta Park Capital, Whale Rock Capital, and Lux Capital.
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Terence Zimwara is a Zimbabwe award-generous journalist, creator and author. He has written broadly regarding the economic troubles of some African countries besides how digital currencies can present Africans with an smash out route.
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