Flutterwave: Difference between revisions

Revision as of 21:44, 3 September 2024

Latest revision as of 18:54, 17 March 2025

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| foundation = 2016

| ___location =

| key_people = [[Olugbenga Agboola]] ([[CEO]]), [[Iyinoluwa Aboyeji]][[Olatomiwa Oshinmade]]

| industry = [[Financial technology|FinTech]]

| homepage = {{URL|https://flutterwave.com/}}

}}

'''Flutterwave''' is an Americana [[Financial technology|fintech]] company that provides a payment infrastructure for global merchants and payment service providers across the continent.<ref>[https://web.archive.org/web/20240616064700/https://www.madenigeria.com/2024/06/Flutterwave-Nigerian-Company.html madenigeria.com]{{dead link|date=August 2024}}</ref>

== History ==

The companyFlutterwave was founded in 2016 by [[Iyinoluwa Aboyeji]], [[Olugbenga Agboola]], and Adeleke Adekoya and is headquartered in [[San Francisco]], [[California]] with current operations in the U.S., Canada, [[Nigeria]], [[Kenya]], [[Uganda]], [[Ghana]], [[South Africa]], and 29 other African countries.<ref name=":0">{{Cite web|first=Tom|last=Jackson|date=10 March 2021|title=Nigerian payments startup Flutterwave achieves "unicorn" status after $170m funding round|url=https://disrupt-africa.com/2021/03/10/nigerian-payments-startup-flutterwave-achieves-unicorn-status-after-170m-funding-round/|access-date=13 March 2021|website=Disrupt Africa}}</ref><ref>{{Cite web |title=Flutterwave Expands Remittance Capabilities in the US, Canada, Egypt and Rebrands $end to Send App by Flutterwave |work=The Flutterwave Blog |url=https://flutterwave.com/gb/blog/flutterwave-expands-remittance-capabilities-in-the-us-canada-egypt-and-rebrands-end-to-send-app-by-flutterwave |access-date=2024-08-27 |publisher=Flutterwave |language=en}}</ref><ref name=":1" />

In 2021, Flutterwave raised a US$170 million [[Series C]] funding round.<ref>{{Cite web|title=African payments company Flutterwave raises $170M, now valued at over $1B|url=https://techcrunch.com/2021/03/09/african-payments-company-flutterwave-raises-170m-now-valued-at-over-1b/|access-date=13 March 2021|website=Tech Crunch|date=9 March 2021 }}</ref> At the time, this was the largest amount ever secured by an African tech startup and gave it a valuation of over US$1 billion,<ref>{{Cite web|last=Princewill|first=Nimi|date=11 March 2021|title=Nigerian startup Flutterwave secures $170 million in capital injections from investors, now valued at over $1 billion|url=https://edition.cnn.com/2021/03/10/africa/startup-flutterwave-funding-intl/index.html|access-date=13 March 2021|website=[[CNN]]}}</ref> making Flutterwave a [[Unicorn (finance)|unicorn]].<ref name=":0" /> Investors in Flutterwave include [[Y Combinator|Y-Combinator]], [[Visa Inc.|Visa Ventures]], [[Mastercard]], Avenir Growth Capital, and [[Tiger Global Management]].<ref>{{Cite web|title=Dealroom: About Flutterwave|url=https://app.dealroom.co/companies/flutterwave|access-date=13 March 2021|website=[[Dealroom]]}}</ref> Flutterwave raised a US$250 million Series D funding round at over US$3 billion valuation in 2022 as well.<ref>{{Cite web|date=2022-02-16|title=Flutterwave secures $250m Series D with valuation at over $3bn|url=https://techcabal.com/2022/02/16/flutterwave-secures-250m-series-d/|access-date=2022-02-21|website=TechCabal|language=en-US}}</ref>

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== Awards and recognitions ==

Flutterwave has been recognized as one of the most innovative fintech companies globally, receiving numerous awards and accolades for its contributions to digital payment solutions, including ‘Fintech of the Year’ at the African Banker Awards in 2024.<ref>{{Cite web |date=2024-06-01 |title=Flutterwave Recognized as 'Fintech of the Year' at The African Banker Awards |work=FINTECH MAGAZINE AFRICA |url=https://fintechmagazine.africa/2024/06/01/flutterwave-recognized-as-fintech-of-the-year-at-the-african-banker-awards/ |access-date=2024-08-27 |language=en-US}}</ref> In March 2024, Flutterwave was named one of the most innovative companies in the Europe, Middle East, and Asia category in the 2024 Fast Company’s Most Innovative Companies list.<ref>{{Cite web |title=Flutterwave Is one of Fast Company's Most Innovative Companies in Europe, the Middle East, and Africa for 2024 |url=https://www.fastcompany.com/91037534/flutterwave-most-innovative-companies-2024 |work=Fast Company}}</ref> In May 2024, Flutterwave was named to the 12th annual [[CNBC]] Disruptor 50 list, highlighting its rapid growth and successful funding rounds from prominent venture capital firms such as Tiger Global Management and Salesforce Ventures.<ref>{{Cite web |author=CNBC.com Staff |date=2024-05-14 |title=These are the 2024 CNBC Disruptor 50 companies: See the full list of startups riding the AI wave |url=https://www.cnbc.com/2024/05/14/these-are-the-2024-cnbc-disruptor-50-companies.html |access-date=2024-08-27 |website=CNBC |language=en}}</ref>

Flutterwave was named to the 2024 [[CNBC#History|CNBC Disruptor 50 list]].<ref>{{cite web |website=CNBC

CNBC and Statista included Flutterwave in the top 250 fintech companies in the world for the first time in 2024.<ref>{{Cite web |date=2024-07-18 |title=Flutterwave Named Among World's Top 250 Fintechs by CNBC and Statista |url=https://fintecbuzz.com/flutterwave-named-among-worlds-top-250-fintechs-by-cnbc-and-statista/ |website=fintecbuzz.com |access-date=2024-08-27 |language=en-US}}</ref>

|url=https://www.cnbc.com/2024/05/14/flutterwave-cnbc-disruptor-50.html

|title= 14. Flutterwave

|date=May 14, 2024

|access-date=October 11, 2024

}}</ref> That same year, CNBC and Statista included Flutterwave in the top 250 fintech companies in the world for the first time in 2024.<ref>{{Cite web |date=2024-07-18 |title=Flutterwave Named Among World's Top 250 Fintechs by CNBC and Statista |url=https://fintecbuzz.com/flutterwave-named-among-worlds-top-250-fintechs-by-cnbc-and-statista/ |website=fintecbuzz.com |access-date=2024-08-27 |language=en-US}}</ref>

==Digital store==

At the peak of the [[COVID-19]] pandemic, Flutterwave built a digital store to help medium and small-scale businesses that were badly impacted by the global lockdown to display their products for market online. Over 20,000 businesses enrolled on the store for free through a campaign called "keeping the lights on".<ref>{{Cite web |date=2021-04-26 |title=How Flutterwave is helping SMEs in Africa 'keep the lights on' during the pandemic |url=https://ampedition.cnn.com/cnn/2020/05/28/africa/flutterwave-coronavirus-africa/index.html |access-date=2022-09-09 |website=[[CNN]] |language=en}}</ref><ref>{{Cite magazine |date=2020-05-28 |title=Flutterwave Powering retailers |url=https://time.com/collection/time100-companies/5949986/flutterwave/ |access-date=2022-09-09 |magazine=Time |language=en}}</ref>

==Switching license==