Headquarters: San Francisco, California, USA
Founded: 2016
Founder(s): Iyinoluwa Aboyeji, Olugbenga Agboola
Notable Investors: Mastercard, Visa, Y Combinator, Greycroft, Tiger Global Management, Avenir Growth Capital, B Capital Group
Flutterwave is a Nigerian-based financial technology company that provides payment infrastructure and technology to banks and businesses in Africa. The company was founded in 2016 by Iyinoluwa Aboyeji and is headquartered in Lagos, Nigeria, with offices in Ghana, Kenya, and South Africa.
Flutterwave’s payment platform allows businesses to accept payments from customers in Africa and around the world, using a range of payment methods, including credit and debit cards, mobile money, bank transfers, and USSD*. The company also offers a range of other services to businesses, including foreign currency conversion, fraud detection, and analytics tools.
Flutterwave has partnerships with a number of major financial institutions, including Visa and Mastercard, and has received significant investment from a number of high-profile investors, including Y Combinator, Greycroft, and Green Visor Capital, among others. In 2021, the company raised $170 million in a funding round led by Avenir Growth Capital and New York-based hedge fund, Tiger Global Management, bringing its valuation to over $1 billion.
Flutterwave has been recognized for its contributions to the African fintech ecosystem and has won several awards, including the Excellence in Fintech Infrastructure Award.
*USSD (Unstructured Supplementary Service Data) is a mobile technology used to send and receive text messages through a GSM (Global System for Mobile Communications) network. USSD messages are typically used for mobile banking and other financial services, as well as for other types of mobile transactions, such as airtime top-ups and bill payments. USSD messages are similar to SMS (Short Message Service) messages, but they are typically quicker and more reliable. USSD messages can be sent and received in real-time, which makes them ideal for use in financial transactions, where speed and reliability are important.