Flutterwave Raises $250 Million in Series D Funding Round, Startup Now Valued at Over $3 Billion

Fintech startup Flutterwave introduced not too long ago that it has raised $250 million from its Series D funding spherical. The funding spherical, which attracted worldwide traders, noticed the startup’s worth rise to over $3 billion.

Capital Raised to Fund Flutterwave’s Expansion Plans

The Nigerian fintech startup Flutterwave not too long ago introduced it raised $250 million in a Series D funding spherical. The newest capital increase, led by B Capital Group, noticed the fintech agency’s valuation improve to over $3 billion.

According to a statement on the remittance and funds service supplier’s weblog, Flutterwave is planning to make use of the capital raised to drive its “formidable enlargement plan to speed up buyer acquisition in current markets and development by means of M&A.” In addition, the fast-growing fintech startup stated it’ll use the funds to “develop complementary merchandise whereas encouraging new improvements in its services and products growth.”

Flutterwave’s affirmation of its newest capital increase comes virtually twelve months after the fintech startup efficiently raised $170 million. That capital increase resulted in Flutterwave changing into one of many African fintech startups with a valuation exceeding $1 billion. After this newest capital increase, Flutterwave has now raised a complete of $475 million since its inception in 2016.

Flutterwave’s Global Backing

In remarks following the newest capital increase, Olugbenga Agboola, founder and CEO of Flutterwave, explains the corporate’s journey and the way distinguished worldwide traders are drawn to the startup. Quoted within the weblog submit, he stated:

“We got down to construct a platform that simplifies funds for everybody and in the present day, our options are used throughout the globe to attach Africans to the world and the world to Africans … This newest funding demonstrates the conviction of a few of the world’s main traders in each our enterprise mannequin, group and the Africa know-how market.”

For his half, David Glynn, the managing associate of Glynn Capital, stated his agency was wanting ahead “to supporting the corporate [Flutterwave] because it addresses its vital development alternative within the years forward.”

Besides B Capital Group, which led the funding spherical, Glynn Capital, an investor in Flutterwave since 2017, additionally participated. Other contributors included Alta Park Capital, Whale Rock Capital, and Lux Capital.

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