Flutterwave has announced that it has closed $170 million series C round, raising the valuation of the company to over $ 1 billion earning the company much coveted the “unicorn” status.
Avenir Growth Capital and Tiger Global led the round with participation from Early Capital Berrywood, DST Global, Green Visor Capital, Greycroft Capital, Insight Ventures, Salesforce Ventures, Paypal, Tiger Management, and Worldpay FIS 9yards capital. This comes after the startup closed $35million series B in 2019 and $ 20Million in series A in 2018.
The startup was founded in 2016, by a team of ex-bankers and engineers on a mission to build payments infrastructure to connect Africa to the global economy. They do this by building technology, tools, and infrastructure for businesses and banks to provide a seamless and secure payments experience for their customers.
Flutterwave has an active presence in 11 African countries, is live in 20 with an infrastructure reach in over 33 countries on the continent. With this funds, the company plans to speed up customer acquisition, and improve its existing product offerings like Barter as well as introduce new offerings