Portfolio company Flutterwave is launching an e-commerce platform for African companies (akin to Shopify), with digital payments and logistics fully integrated. With so many brick-and-mortar retailers unable to operate during the coronavirus pandemic, the Flutterwave platform promises to further accelerate the transition to e-commerce and the digital economy.
US-Nigerian fintech company Flutterwave has created an e-commerce platform for African companies, becoming the latest start-up to see opportunities in the lockdowns that have been imposed as a result of the coronavirus. Originally a payments processing business, Flutterwave CEO Olugbenga Agboola witnessed how the temporary lockdowns across the continent were disrupting businesses it worked with. He also noted the impact on smaller shops, many of which were not yet operating online, along with the greater demand for e-commerce. In response, Flutterwave devised an e-commerce platform to enable businesses to set up their shops online, with payments and delivery integrated.