Nigeria’s Flutterwave partners US’ PayPal to enable African merchants receive payments

NIGERIA – Flutterwave, a fintech company, has teamed up with US payments giant PayPal to enable PayPal customers globally to pay African merchants through its “Pay with PayPal” feature. Flutterwave’s integration with PayPal will be operational across 50 African countries and worldwide, it said in a statement. The collaboration will connect small and medium enterprises with the more than 377 million PayPal account holders globally, Flutterwave said, eliminating the barrier to cross-border commerce. Online payments got a boost with the Covid-19 pandemic as people rely on mobile apps for shopping…

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Payment startup Flutterwave raises US$170m Series C funding to expand into new markets

NIGERIA – Flutterwave, African-focused payments startup, has closed a US$170 million Series C funding round led by New York-based private investment firm Avenir Growth Capital and U.S. hedge fund and investment firm Tiger Global, valuing the company over US$1 billion. New and existing investors who participated in this round include DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, PayPal, Salesforce Ventures, Tiger Management, Worldpay FIS 9yards Capital. This new funding will be used to speed up customer acquisition in its present markets. It will also improve…

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Africa-focused fintech firm Flutterwave partners with WorldPay, raises US$35m to grow market share

AFRICA – Africa-focused fintech firm Flutterwave has raised US$35 million in a series Series B round that was led by US VC firms Greycroft and eVentures, with participation of Visa, Green Visor and African fund CRE Venture Capital. The company also announced partnerships with WorldPay and Visa as it targets expansion in north Africa. Flutterwave’s latest funding brings the company’s total investment to $55 million and follows a year in which the fintech venture announced a series of weighty partnerships. In July 2019, the startup joined forces with Chinese e-commerce…

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Andela and Flutterwave launches early-stage investment fund

AFRICA – Andela, company that identifies and develops software developers, together with Flutterwave, a platform that provides payment service, launched an early-stage investment fund that will back up to 20 founders with up to US$50,000 of capital each year through the Future Africa initiative. Iyinoluwa Aboyeji, a co-founder of Andela and Flutterwave, announced this. Aboyeji has helped launch two of Africa’s best known and best funded startups, and having “retired” from Flutterwave in October 2018 he launched Future Africa last year alongside Olabinjo Adeniran and Adenike Sheriff. The initial aim…

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