Flutterwave, founded in 2016 and headquartered in San Francisco with a major base in Lagos, has established itself as one of Africa’s leading fintech companies. The company builds digital payment infrastructure that enables businesses to accept, process, and send money globally. With more than 890 million transactions processed and a valuation nearing $3 billion, Flutterwave is shaping the future of financial services across the continent.
Simplifying Payments Across Borders
At its core, Flutterwave provides API-based solutions that support over 15 payment methods and 150 currencies, making it easier for merchants to operate across borders. Its offerings range from virtual cards and payment links to POS terminals and cross-border transfers. This level of flexibility has made Flutterwave a preferred payment partner for small businesses and large enterprises alike.
Driving Pan-African Commerce Through Infrastructure
Licensed in over 30 markets, including Senegal, Ghana, and Mozambique, Flutterwave reduces the friction of intra-African and international trade. By eliminating traditional banking bottlenecks, it helps merchants seamlessly scale their operations beyond local markets. The impact of its infrastructure is particularly evident in its role as a back-end enabler for e-commerce, creator platforms, and remittance flows.
Born From Firsthand Frustration with Legacy Systems
The idea for Flutterwave emerged from the real-world challenges co-founders Olugbenga “GB” Agboola, Iyinoluwa Aboyeji, and Adeleke Adekoya faced while working on digital projects at Andela and Standard Bank. They launched the company to close Africa’s payment gaps by building modern rails suited to the region’s fragmented systems. Since incorporation in May 2016, Agboola has led as CEO, drawing on prior experience at PayPal and Google Wallet.
From Startup to Unicorn Status
Flutterwave’s funding journey includes four key rounds, raising a total of approximately $500 million. The company achieved unicorn status in 2021 after a $170 million Series C, and reached a $3 billion valuation with its $250 million Series D in February 2022. Investors such as Tiger Global, Greycroft, B Capital, and Avenir have fueled its expansion into new products and geographies.
Monetizing Infrastructure Through Multiple Channels
The company earns revenue through transaction fees, foreign exchange spreads, subscription-based APIs, and hardware sales. Its Send App supports diaspora remittances, while its e-commerce tools enable SMEs and creators to operate with minimal technical know-how. This multi-channel model positions Flutterwave as both a platform and a revenue generator for businesses that rely on digital transactions.
Preparing for the Public Markets
In April 2025, the Nigerian Exchange (NGX) formally invited Flutterwave to consider a local IPO. This move aligns with the company’s current late-stage growth strategy and a broader push by regulators to deepen local capital markets. While Flutterwave is evaluating conditions before making a final decision, the signal is clear: an IPO may soon be on the horizon.
Expanding Reach Through Regulatory Wins
In July 2025, Flutterwave announced it had secured a Payment Institution Licence in Senegal, enhancing its ability to serve Francophone West Africa. This move complements its existing licences across multiple jurisdictions and reinforces its reputation as a compliant, pan-African operator. With growing coverage, Flutterwave is positioning itself as the go-to infrastructure provider on the continent.
Strengthening the Leadership Team
To prepare for its next phase, Flutterwave appointed Mitesh Popat as Chief Financial Officer in September 2024. Popat brings extensive financial leadership experience from Citi, and his hire signals increased readiness for IPO compliance and governance. The company also conducted a strategic 3% staff reduction to focus more intensely on enterprise services.
Recognition and Strategic Partnerships
Flutterwave’s progress has not gone unnoticed, with the company earning a spot on CNBC’s Disruptor 50 list and Fast Company’s Most Innovative Companies in EMEA for 2025. In June 2025, social-commerce platform Chpter announced it had expanded into 11 countries using Flutterwave’s payment rails. These milestones underscore the company’s relevance, scale, and continued growth trajectory.
With a $3 billion valuation, regulatory traction across Africa, and rising global visibility, Flutterwave is one of the few startups poised to transform into a publicly listed tech company from the continent. Its combination of strong leadership, innovative infrastructure, and investor backing positions it at the center of Africa’s digital future. Whether through payments, remittances, or AI investments, Flutterwave continues to redefine what’s possible in emerging markets.