Nigerian-found fintech startup, Flutterwave, has just raised a $35-million Series-B round. The round was led by American venture capital firms Greycroft and eVentures.
As a digital payment service and infrastructure provider, Flutterwave enables global merchants, payment service providers, and pan-African banks to accept and process payments across various channels.
According to the co-founder, Olugbenga Agboola, the funds will be invested in technology and business development to grow market share in the countries it currently operates in. Part of the funds will also be used to create more services around Flutterwave’s current products.
Based in the US, Flutterwave is currently having active operations in 6 African countries. These countries include Ghana, Kenya, Nigeria, South Africa, Tanzania, and Uganda. It is expanding its operations into 6 other African countries: Egypt, Morocco, Senegal, Ivory Coast, Zambia, and Malawi.