Fintech startup Flutterwave introduced just lately that it has raised $250 million from its Collection D funding spherical. The funding spherical, which attracted worldwide buyers, noticed the startup’s worth rise to over $3 billion.
Capital Raised to Fund Flutterwave’s Growth Plans
The Nigerian fintech startup Flutterwave just lately introduced it raised $250 million in a Collection D funding spherical. The newest capital increase, led by B Capital Group, noticed the fintech agency’s valuation enhance to over $3 billion.
In line with a statement on the remittance and funds service supplier’s weblog, Flutterwave is planning to make use of the capital raised to drive its “formidable growth plan to speed up buyer acquisition in present markets and development by means of M&A.” As well as, the fast-growing fintech startup stated it should use the funds to “develop complementary merchandise whereas encouraging new improvements in its services and products improvement.”
Flutterwave’s affirmation of its newest capital increase comes virtually twelve months after the fintech startup efficiently raised $170 million. That capital increase resulted in Flutterwave turning into one of many African fintech startups with a valuation exceeding $1 billion. After this newest capital increase, Flutterwave has now raised a complete of $475 million since its inception in 2016.
Flutterwave’s World Backing
In remarks following the most recent capital increase, Olugbenga Agboola, founder and CEO of Flutterwave, explains the corporate’s journey and the way distinguished worldwide buyers are interested in the startup. Quoted within the weblog publish, he stated:
“We got down to construct a platform that simplifies funds for everybody and as we speak, our options are used throughout the globe to attach Africans to the world and the world to Africans … This newest funding demonstrates the conviction of a number of the world’s main buyers in each our enterprise mannequin, workforce and the Africa expertise market.”
For his half, David Glynn, the managing accomplice of Glynn Capital, stated his agency was trying ahead “to supporting the corporate [Flutterwave] because it addresses its vital development alternative within the years forward.”
In addition to B Capital Group, which led the funding spherical, Glynn Capital, an investor in Flutterwave since 2017, additionally participated. Different members included Alta Park Capital, Whale Rock Capital, and Lux Capital.
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