Africa’s fintech company, Flutterwave has a current valuation of over three billion dollars following the $250 million it raised in its Series D funding.
The company made the announcement in a statement published on its website on Wednesday.
According to the statement, Flutterwave’s latest backers include some of the world’s most respected investors led by B Capital Group, and with involvement from Alta Park Capital, Whale Rock Capital, Lux Capital, among others.
”Since its inception, our goals at Flutterwave have always been clear. We want to make it easy for a business in Lagos to sell to a customer in Kenya, seamlessly, to make it simple to accept payments globally.”
“In March 2021, we announced our Series C funding. We have continued to build and support our customer communities, improve their experiences and create endless possibilities for all.”
Several existing investors, who also participated in previous rounds also followed this round, including, Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital, Salesforce Ventures.
In 2021, African tech companies grew faster than any other region with twice the activity of 2020 and more than thrice the amount invested.
Flutterwave’s gross domestic product (GDP) grew by 4% per year between 2010 and 2019, more than twice that of the EU (1.7%) and Latin America (1.7%) over the same period.
The new funds will drive Flutterwave’s expansion plan to accelerate customer acquisition in existing markets and growth and develop complementary products while encouraging new innovations in its products and services development.