Flutterwave Raises $250 Million in Sequence D Funding Spherical, Startup Now Valued at Over $3 Billion – Fintech Bitcoin Information
Fintech startup Flutterwave introduced just lately that it has raised $250 million from its Sequence 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 Enlargement Plans
The Nigerian fintech startup Flutterwave just lately introduced it raised $250 million in a Sequence D funding spherical. The most recent capital increase, led by B Capital Group, noticed the fintech agency’s valuation enhance to over $3 billion.
In response to an announcement 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 current markets and development by way of M&A.” As well as, the fast-growing fintech startup stated it’s going to use the funds to “develop complementary merchandise whereas encouraging new improvements in its services improvement.”
Flutterwave’s affirmation of its newest capital increase comes nearly twelve months after the fintech startup efficiently raised $170 million. That capital increase resulted in Flutterwave changing 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 put up, he stated:
“We got down to construct a platform that simplifies funds for everybody and right now, 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 among the world’s main buyers in each our enterprise mannequin, staff and the Africa expertise market.”
For his half, David Glynn, the managing companion of Glynn Capital, stated his agency was trying ahead “to supporting the corporate [Flutterwave] because it addresses its important development alternative within the years forward.”
Apart from 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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