African mega fintech company; Flutterwave, has successfully raised an additional 250 million United States Dollars (28.41 billion Kenyan Shillings) via a Series D round of funding. What this means is that the valuation for Flutterwave, now stands at an impressive 3 billion United States Dollars (340.95 billion Kenyan Shillings) in an equally impressive timespan of just twelve (12) months.
Back in March of 2021 Flutterwave which is a startup based in Lagos but headquartered in San Francisco, raised 170 million United States Dollars (19.32 billion Kenyan Shillings) via a Series C round of funding from Tiger Global and Avenir at a then valuation of 1 billion United States Dollars (113.65 billion Kenyan Shillings).
It raised 20 million United States Dollars (2.27 billion Kenyan Shillings) in a Series A round of funding in 2018 and 35 million United States Dollars (3.97 billion Kenyan Shillings) in a Series B round of funding in 2020.
The latest round of funding by the fintech startup which was founded six (6) years ago now means it has been able to raise 475 million United States Dollars (54 billion Kenyan Shillings).
Read Also: Flutterwave And Airtel Money Enter Into Partnership For East Africa
With its current valuation of 3 billion United States Dollars (340.95 billion Kenyan Shillings) Flutterwave, is now the highest and most valuable African startup in the world. It has surpassed the record of 2 billion United States Dollars (227.3 billion Kenyan Shillings) previously held by fintech OPay which is backed by SoftBank and the cross border payments platform Chipper Cash which is backed by FTX back in 2021.
Flutterwave which is led by its Founder and Chief Executive Officer (CEO) makes the carrying out of cross border payment transactions by small businesses and large businesses alike in Africa, much easier through the use of one API (Application Programming Interface). The fintech giant also makes it possible for businesses outside of Africa to expand their operations on the African continent. Its international clients include Uber, Flywire, and Booking.com.
Read Also: Flutterwave Partners With PayPal to Help African Businesses Receive And Make Payments
Since its 1 billion United States Dollar (113.7 billion Kenyan Shilling) valuation in 2021 Flutterwave has continued to enjoy a tremendous growth rate. In 2021, it made it known that it had successfully processed 140 million transactions worth more than 9 billion United States Dollars (1.02 trillion Kenyan Shillings). In just a year later, African fintech giant has now processed more than 200 million transactions worth over 16 billion United Dollars (1.81 trillion Kenyan Shillings). Thanks in part to its presence in 34 countries on the African continent.
Read Also: Flutterwave Is Now Valued At More Than 1 Billion US Dollars
The amount of businesses using Flutterwave’s platform has increased as well. While it stood at an impressive figure of 290,000 businesses as at March of 2021, it is now at an even more impressive figure of 900,000 businesses worldwide that process payments with Flutterwave in 150 different currencies, across various payment methods like mobile wallets, international cards, local cards, bank transfers and Flutterwave’s very own Barter.
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