Flutterwave reaches $3b valuation

After a new $250 million injection in a Series D funding round, Flutterwave’s valuation has risen to $3 billion, making the Nigerian firm the fintech with the biggest capitalization in Africa, a continent it dominates in digital payments.

B Capital Group led the round, which included participation from current investors such as Glynn Capital, Avenir Growth, Tiger Global, Green Visor Capital, and Salesforce Ventures, as well as new investors such as Alta Park Capital, Whale Rock Capital, and Lux Capital.

The new round follows the previous Series C round, which brought Flutterwave’s valuation to $1 billion in March 2021 and was led by Tiger Global and Avenir Growth Capital.

The fintech intends to redouble its efforts to alter transactions on the African continent and beyond, while simultaneously bolstering its own business, innovation, and technological landscape.

The financing will also assist Flutterwave in accelerating client acquisition in existing areas, as well as growth through mergers and acquisitions (M&As) and product development.

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