Nigerian Fintech Flutterwave Secures Money Transfer Licenses in 13 US States

The Nigerian fintech unicorn revealed on Dec.7 that it has obtained cash switch licenses in 13 U.S. states. Flutterwave’s partnership with a licensed monetary establishment additionally signifies that it may possibly now serve clients in 29 states within the U.S. Flutterwave CEO advised that the fintech hopes to increase its footprint within the nation by securing extra such licenses.

Flutterwave Serves Clients in 29 States

The Nigerian fintech unicorn, Flutterwave, just lately introduced that it has secured cash switch licenses in 13 U.S. states. The licenses allow Flutterwave customers to get pleasure from sooner, cheaper, and safer switch of cash from the United States to Africa and again. Flutterwave’s partnership with a licensed monetary establishment additionally signifies that it may possibly now serve clients in 29 states within the U.S.

According to Flutterwave’s Dec. 7 statement, the licenses obtained by the fintech not solely allow its sending utility but additionally enterprises that use its platform for last-mile payout globally.

Stephen Cheng, the manager VP for Global Expansion and Partnership, remarked on the fintech’s newest milestone, saying, “Getting these licenses expands our regulatory footprint, demonstrates our ability to deliver services with safety and soundness, and fosters trust of regulators, partners, and customers. We’re growing and are committed to servicing customer needs in as many geographies as possible with a significant African diaspora.”

Olugbenga Agboola, the founder and CEO at Flutterwave, stated that getting licensed by U.S. regulators strikes the fintech nearer to its objective of connecting Africa to the world and vice versa by simplifying funds. Agboola additionally revealed that Flutterwave hopes to increase its footprint within the nation by securing extra such licenses.

In addition to receiving approvals from U.S. regulators, Flutterwave has been working with African regulators. This has culminated within the fintech getting authorised by the Nigerian and Malawian central banks.

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