Payments firm Flutterwave has raised USD 250 million in a Series D round, effectively growing its valuation to more than USD 3 billion.
The development follows a Series C round that saw the company raise USD 170 million in 2021. That fund drive made the company a unicorn.
Flutterwave, which is based in Nigeria, now features as one of the few Africa startups that have received millions from investors.
The financing now implies that Flutterwave has netted USD 475 million since it was launched more than half a decade ago.
As a reminder, the company raised USD 20 million and USD 35 million in Series A and B, respectively.
This news item was first reported back Q4 2021 by Bloomberg. However, the confirmation just went live today as reported by Tech Crunch.
Flutterwave is now Africa’s most valued startup. It surpasses Opay that is valued at USD 2 billion, as well as another payments firm, Chipper Cash.
Reports from the firm state that it has processed more than 140 million transactions valued at over USD 9 billion when it started its operations, which made it very attractive to investors.
To date, that number has gone past 200 million in transactions valued at over USD 16 billion.
It runs operations in 34 countries, and supports 900K businesses around the world. Part of this development is because the platform processes up to 150 currencies across different modes, including mobile money wallets, bank transfers and cards.
Flutterwave has since launched an ecommerce platform named Flutterwave Market, which has onboarded more than 30K merchants.
The new funds will see the company develop new products, and accelerate customer acquisition.