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Congratulations to portfolio company Flutterwave on this latest round of financing! At $3b, Flutterwave is currently the highest valued African startup, surpassing the $2b valuation set by SoftBank-backed fintech OPay and FTX-backed cross-border payments platform Chipper Cash last year. Flutterwave has seen astronomical growth since its Series C last year. At the time, the payments company said it processed 140m transactions worth over $9b. A year later, the African payments giant, with an infrastructure reach across 34 countries on the continent, now processes 200m transactions worth more than $16b.
“It was deliberate from us because we saw the opportunity in the SMB space, and how they require the same technology pie the Ubers and Netflixes of this world use,” Agboola told TechCrunch. “Some of this is evident is how we expanded the Flutterwave Store, which allows small businesses anywhere in Africa to create an e-commerce shop online at zero cost scale.”
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