Jubilation as Nigerian CEO raises N12.6bn, to expand business operation

Olugbenga Agboola

A Lagos and San Francisco-based financial technology (fintech) startup, Flutterwave, has been able to raise $35 million (N12,652,500,000) as it announced that it will be partnering with Worldpay FIS to facilitate payment in Africa.

The CEO, Olugbenga Agboola, of the fintech startup will be investing the fund to grow tech business in many countries, TechCrunch reports.

With that also, the company will be expanding its operations to build more payment products and services.

It should be noted that Flutterwave launched in 2016, and has since then given clients an easier API that allows them to work with the organization to make bespoke payment applications.

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The partnership will allow easier processing of payments in and out of Africa. Photos sources: TechPoint and TechCrunch
In 2019 alone, the company was able to facilitate 107 million transactions that were worth $5.4 billion (N1,952,100,000,000). One of the works they did was the facilitation of Cardi B’s performance ticket sale in Nigeria.

With their collaboration with Worldpay, they were able to process African payments.

“With this partnership, any Worldpay merchant in Europe or the US can accept any African payment. If someone goes to pay Netflix with an African card, it just works,” Agboola said.

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