Flutterwave operates as a financial technology company. The company provides a variety of payment solutions, including online payment acceptance, cross-border payouts and transfers, currency swapping, and point-of-sale (POS) systems. It primarily serves businesses, individuals, and startups, particularly in emerging markets. It was founded in 2016 and is based in San Francisco, California.
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Flutterwave's Products & Differentiators
Legacy online global acquiring and disbursement platform for enterprise merchants and SMBs to collect and receive payment in over 150 currencies and channels.
Research containing Flutterwave
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CB Insights Intelligence Analysts have mentioned Flutterwave in 6 CB Insights research briefs, most recently on Jul 22, 2022.
Expert Collections containing Flutterwave
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Flutterwave is included in 6 Expert Collections, including Unicorns- Billion Dollar Startups.
Unicorns- Billion Dollar Startups
Companies in this collection provide technology that enables consumers and businesses to pay, collect, automate, and settle transfers of currency, both online and at the physical point-of-sale.
Future Unicorns 2019
Companies and startups in this collection provide technology to streamline, improve, and transform financial services, products, and operations for individuals and businesses.
250 of the most promising private companies applying a mix of software and technology to transform the financial services industry.
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Latest Flutterwave News
Nov 15, 2023
Image source: bird story agency Share This article was contributed to TechCabal by Seth Onyango via bird story agency . Fintech giant, Flutterwave has overcome legal challenges that threatened to cripple an ambitious growth strategy that made it the darling of venture capitalists internationally. “After considering all the facts presented to this court, as well as my earlier ruling on the agency’s request for withdrawal of this suit, the withdrawal is hereby allowed and this suit is marked as withdrawn,” High Court Judge Nixon Sifuna said in a ruling handed down in Nairobi. The judge criticised Kenya’s Assets Recovery Agency (ARA) for initiating the case without completing investigations, deeming the action “inappropriate, negligent, reckless, and absurd”. Flutterwave had grown to become an investor’s darling on the continent and the removal of legal challenges in the key East African markets sets the stage for a face-off with M-Pesa, the region’s mobile money behemoth. The Nigerian-based company, which offers a range of payment solutions for individuals and businesses across Africa, faced a series of legal challenges in Kenya after the ARA accused it of money laundering in 2020 and froze its accounts. Founded in 2016 by Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya, Flutterwave is headquartered in San Francisco and Lagos and is currently valued at some US$3 billion. That makes it the most highly valued startup in Africa, overtaking previous records set by OPay, a fintech firm backed by SoftBank, and Chipper Cash, a cross-border payments platform supported by FTX, (both were valued at US$ 2 billion, in 2022). Flutterwave always denied the allegations brought by the ARA and challenged the court order, arguing that it had complied with all the regulatory requirements and obtained a license from the Central Bank of Kenya (CBK) in 2019. After months of litigation by the ARA, the judgement cleared the way for the fintech firm to resume operations in Kenya. The company may also chase a much-anticipated initial public offering (IPO) which could see it listing its shares in the territories where it operates. The end of Flutterwave’s legal woes could be a game changer in Kenya and East Africa, as the company seeks to expand its presence and compete with the dominant player, M-Pesa. M-PESA, which is owned by Safaricom, the largest mobile network operator in Kenya, has more than 55 million users and processes over 80% of the country’s digital payments. It has extended its services to other countries in the region. Kenya’s digital payments sector is often criticised for its complacency due to a lack of robust challenges to M-Pesa’s dominance. Flutterwave operates in more than 30 African countries and supports over 30 currencies, making cross-border transactions and remittances easy. The service has partnered with global payment platforms such as PayPal, Stripe, and Visa, enabling its customers to access a wider range of payment options and markets. The fintech startup also offers online checkout, e-commerce, invoicing, payment links, and virtual cards. According to a report by the World Bank, Kenya has one of the highest fees for mobile money transactions in Africa, averaging 11% of the transaction value. Flutterwave’s entry could significantly lower those fees as it chases its ambition to become the leading payment platform in Africa and beyond. Share this article
Flutterwave Frequently Asked Questions (FAQ)
When was Flutterwave founded?
Flutterwave was founded in 2016.
Where is Flutterwave's headquarters?
Flutterwave's headquarters is located at 1323 Columbus Avenue, San Francisco.
What is Flutterwave's latest funding round?
Flutterwave's latest funding round is Secondary Market.
How much did Flutterwave raise?
Flutterwave raised a total of $474.71M.
Who are the investors of Flutterwave?
Investors of Flutterwave include Plug and Play Ventures, Green Visor Capital, Flourish Ventures, Glynn Capital Management, Salesforce Ventures and 41 more.
Who are Flutterwave's competitors?
Competitors of Flutterwave include Opay, Chargezoom, Moniepoint, Mono, Bottomline and 7 more.
What products does Flutterwave offer?
Flutterwave's products include Flutterwave4Business and 3 more.
Who are Flutterwave's customers?
Customers of Flutterwave include Uber, Chippercash, Flywire, Netflix and Microsoft .
Compare Flutterwave to Competitors
Stripe develops a financial infrastructure platform. The company offers a suite of services including online payment processing, revenue and finance automation, and banking-as-a-service. Its services allow businesses to accept payments online or in person, automate their revenue and finance operations, and embed financial services into their platforms or products. It primarily serves the e-commerce, software as a service (SaaS), marketplace, and finance automation sectors. It was formerly known as DevPayments. It was founded in 2010 and is based in South San Francisco, California.
Interswitch is a technology-driven company focused on payments and digital commerce in the financial technology sector. The company offers a range of services including everyday payment solutions for individuals, business transaction processing for SMEs and corporates, mobile financial services, and industry-focused payment solutions. Its primary market includes individuals, small and medium enterprises, and various industries across Africa. It was founded in 2002 and is based in Lagos, Nigeria.
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PayNearMe develops technology to facilitate the end-to-end customer payment experience. It offers a billing and payment platform. Its platform helps users pay with cash for a range of goods and services from companies in e-commerce, property management, consumer finance, and transportation, enabling businesses and government agencies as well as retail stores to digitize their cash collection processes. It was formerly known as Handle Financial. The company was founded in 2009 and is based in Santa Clara, California.