Flutterwave In Talks To Triple Valuation To $3 Billion

Led by Chief Executive Officer Olugbenga Agboola, the company in March said it had achieved unicorn status after raising $170 million in a round led by Avenir Growth Capital and Tiger Global Management LLC.

0

Flutterwave Inc., a Nigerian payments firm, is seeking fresh funding at a valuation of $3 billion or more, a figure that would roughly triple its last valuation, according to people with knowledge of the matter.

The startup, which has offices in Lagos, Nigeria and San Francisco, recently held discussions with potential investors, the people said. Terms of the funding round haven’t been finalized, and it’s possible they may change.

A Flutterwave spokeswoman declined to comment.

Led by Chief Executive Officer Olugbenga Agboola, the company in March said it had achieved unicorn status after raising $170 million in a round led by Avenir Growth Capital and Tiger Global Management LLC. Other participating investors in that deal included DST Global, Greycroft, Insight Partners and Salesforce Ventures, the company said at the time.

See also  CAC generated over N56bn in 3 years, remitted only N169m to FG

Also in March, Flutterwave said it will collaborate with PayPal Holdings Inc. to enable the U.S. giant’s global customers to pay African merchants using Flutterwave’s platform. The startup enables the creation of virtual Mastercard and Visa cards, among other payments services, according to its website.

Flutterwave has said it facilitates cross-border transactions across Africa for companies including Facebook Inc., Uber Technologies Inc. and Booking.com. As of March, the startup said it had processed more than 140 million transactions worth over $9 billion in aggregate and that its revenue had risen at a compound annual growth rate of 225% between 2018 and 2020.

See also  Abrupt Relocation of Tank Farms, Petroleum Products Depots could endanger economy, NNPC warns

Author

Untitled Document

You can always reach us through these channels

Facebook: https:/www.facebook.com/ancityreport

Instagram: https://www.instagram.com/ancityreport

Youtube Channel: Anambra City TV

 

Phone Numbers: 07062501185, 09038738731, 07019919330, 09086292043

E-Mail: info@ancity.com.ng, anambracity@gmail.com

Copyright.

This Post: Flutterwave In Talks To Triple Valuation To $3 Billion was approved and published by Anambra City Report Editor and may not be republished elsewhere without prior written permission from the Editor.

Get real time updates directly on you device, subscribe now.

Comments
Loading...