Senegal: Flutterwave Raises $ 170 Million

African payments firm Flutterwave announced that it had raised $ 170 million, valuing the company at over $ 1 billion. The Series C round of funding saw participation from New York-based private equity firm Avenir Growth Capital and US hedge fund and investment firm Tiger Global.

They are the ones who carried out the operation. Flutterwave has also won over DST Global, Early Capital Berrywood, Green Visor Capital, Greycroft Capital, Insight Ventures, Salesforce Ventures, Tiger Management, Worldpay FIS 9yards Capital. In total, since its creation in 2016, fintech has managed to raise $ 225 million and is one of the few African startups to have passed the $ 200 million mark in funding.

The company posted exceptional performance which clearly won over investors. Flutterwave has processed over 140 million transactions worth over $ 9 billion. The company, which also helps businesses outside of Africa expand their operations on the continent, has an impressive customer base of international companies, including Booking.com, Facebook, Flywire and Uber. 290,000 companies use the platform, which is active in 11 countries.