Nigerian startup Flutterwave secures $170 million in capital injections from investors, now valued at over $1 billion
Flutterwave, an African fintech startup has secured $170 million in capital injections from investors, the firm said in a statement on Wednesday.
New York-based private investment firm Avenir Growth Capital and U.S. hedge fund and investment firm Tiger Global led the Series C round.
New and existing investors who participated include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Partners, Salesforce Ventures, Tiger Management, Worldpay FIS and 9yards Capital.
The Series C round comes a year after Flutterwave closed its $35 million Series B and $20 million Series A in 2018. In total, Flutterwave has raised $225 million and is one of the few African startups to have secured more than $200 million in funding.
Launched in 2016 as a Nigerian and U.S.-based payments company with offices in Lagos and San Francisco, Flutterwave helps businesses build customizable payments applications through its APIs.
When the company raised its Series B, we reported that Flutterwave had processed 107 million transactions worth $5.4 billion. Right now, those numbers have increased to over 140 million transactions worth more than $9 billion. The company, which also helps businesses outside Africa to expand their operations on the continent, has an impressive clientele of international companies, including Booking.com, Flywire and Uber.
