Flutterwave: Difference between revisions

Revision as of 15:54, 27 August 2024

Revision as of 16:14, 27 August 2024

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== History ==

The company 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|last=Tom|first=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 |websitepublisher=Flutterwave Expands Remittance Capabilities in the US, Canada, Egypt and Rebrands $end to Send App by Flutterwave  {{!}} The Flutterwave Blog |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}}</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>

In December 2021, Flutterwave launched Send App,<ref>{{Cite web|title=Flutterwave Send Website|url=https://send.flutterwave.com}}</ref> an African-focused remittances service that facilitates instant money transfers, and appointed [[Wizkid]] as its global ambassador to further push the company's brand among the Africans in the diaspora.<ref>{{Cite web|title=Flutterwave Picks Wizkid as Global Brand Ambassador, Launches Send|url=https://investorsking.com/2021/12/18/flutterwave-picks-wizkid-as-global-brand-ambassador-launches-send |website=investorsking.com}}</ref><ref>{{Cite web|url=https://techmoran.com/2021/07/14/flutterwave-appoints-oluwabankole-falade-as-chief-regulatory-and-government-relations-officer/|title = Flutterwave Appoints Oluwabankole Falade as Chief Regulatory and Government Relations Officer – |website=TechMoran}}</ref> Send App is now available in 29 states in the U.S. and is expected to expand to all 50 states.<ref>{{Cite webpress release |lastpublisher=Flutterwave |title=Flutterwave Secures 13 New Money Transmission Licenses in the U.S. and Services 29 States with its Send App Remittance Solution for Consumers and Enterprises |url=https://www.prnewswire.com/news-releases/flutterwave-secures-13-new-money-transmission-licenses-in-the-us-and-services-29-states-with-its-send-app-remittance-solution-for-consumers-and-enterprises-302008908.html |access-date=2024-08-27 |websiteagency=www.prnewswire.comPR Newswire |language=en}}</ref>

In January 2022, Flutterwave partnered with AfroSport Network to broadcast the 2021 [[Africa Cup of Nations]] free-to-air from 9 January 2022 to 6 February 2022.<ref>{{Cite web|date=2022-01-06|title=Flutterwave Sponsors AFCON 2021 Broadcast On Afrosport TV -|url=https://www.completesports.com/flutterwave-sponsors-afcon-2021-broadcast-on-afrosport-tv/|access-date=2022-02-04|website=Complete Sports|language=en-US}}</ref>

In 2024, Flutterwave announce several developments. In April, the company announced plans for an [[Initial public offering]].<ref>{{Cite web|date=2024-04-24|title=Flutterwave Prepares for African Fintech IPO|url=https://fintech.industryexaminer.com/flutterwave-african-fintech-ipo/|access-date=2024-04-24|website=Fintech Industry Examiner|language=en-US}}</ref> That same month, Flutterwave's CEO, Olugbenga Agboola, was named vice chair of the U.S. Chamber of Commerce's US-Africa Business Center board of directors.<ref>{{Cite web |lastauthor=Staff Writer |first=Staff |date=2024-04-26 |title=Flutterwave founder named vice chair of US-Africa Business Center’s board |url=https://itweb.africa/content/WnxpE74Y152MV8XL |access-date=2024-08-27 |website=ITWeb Africa |language=en-ZA}}</ref> In June, Flutterwave partnered with Nigeria’s Economic and Financial Crimes Commission (EFCC) to establish and lead a state-of-the-art Cybercrime Research Center.<ref>{{Cite web |title=Flutterwave Partners EFCC to Establish Consortium Led Cybercrime Research Center {{!}} |work=The Flutterwave Blog |url=https://flutterwave.com/us/blog/flutterwave-partners-efcc-to-establish-consortium-led-cybercrime-research-center |access-date=2024-08-27 |websitepublisher=Flutterwave Partners EFCC to Establish Consortium Led Cybercrime Research Center {{!}} The Flutterwave Blog |language=en}}</ref> Following this, in July, Flutterwave joined the prestigious Milken Institute’s Africa Leaders Business Council.<ref>{{Cite web |date=2024-07-23 |title=Milken Institute Scales Up Engagement with Africa Through New Business Council {{!}} |publisher=Milken Institute |url=https://milkeninstitute.org/content-hub/news-releases/milken-institute-scales-engagement-africa-through-new-business-council |access-date=2024-08-27 |website=milkeninstitute.org |language=en}}</ref> In August, Flutterwave expanded its digital payment services with a license in Ghana, marking the 34th African country where it holds a license.<ref name=":1">{{Cite web |last=Duruson |first=Sylvia |date=2024-08-05 |title=Flutterwave Expands Digital Payment Services in Ghana with New License |url=https://www.techinafrica.com/flutterwave-expands-digital-payment-services-in-ghana-with-new-license/ |access-date=2024-08-27 |website=Tech In Africa |language=en-US}}</ref>

== Awards and recognitions ==