Tag: Flutterwave

  • Flutterwave’s NYSE moment ignites global praise for Nigerian innovation

    Flutterwave’s NYSE moment ignites global praise for Nigerian innovation

    Flutterwave pushed Nigeria into a rare and uplifting global conversation once more after images and commentary linking the fintech giant to the New York Stock Exchange (NYSE) sparked widespread admiration online and renewed optimism about African-led innovation on the world stage.

    The moment, amplified by popular social media influencer Tunde Ednut, triggered an unusual but telling reaction: thousands of Nigerians celebrating a homegrown company not for controversy, but for credibility, scale and global relevance.

    In comment sections typically dominated by gossip and outrage, many users instead applauded Flutterwave for projecting Nigeria as a serious technology hub capable of competing internationally.

    At the heart of the excitement is what the NYSE symbolism represents.

    While Flutterwave has not announced a formal listing, its visibility around one of the world’s most powerful financial markets shows how far the company has travelled from a Lagos-founded startup to a payments infrastructure firm powering businesses across Africa, Europe, the United States and Asia.

    For many observers, that visibility alone is a statement of intent and maturity.

    Founded by Olugbenga Agboola and Iyinoluwa Aboyeji, Flutterwave has steadily built a reputation as Africa’s most influential payments technology company.

    Under Agboola’s leadership as chief executive, the firm has expanded operations to more than 30 African countries, secured multiple international licenses, and processed billions of dollars in transactions for global companies seeking entry into African markets.

    Aboyeji, now a respected tech investor and ecosystem builder, helped lay the foundation for what has become one of Africa’s most valuable private technology companies.

    Flutterwave’s recent strategic moves have reinforced its long-term vision.

    The acquisition of open banking startup Mono earlier this year signalled a decisive shift toward deeper financial infrastructure, enabling secure data access, identity verification and bank-to-bank payments.

    That deal not only strengthened Flutterwave’s product stack but also marked one of the most meaningful exits in Nigeria’s fintech space, further validating the ecosystem’s maturity.

    Online reactions to the NYSE-related spotlight reflected a deeper national conversation. Many commenters argued that Nigeria’s problem has never been talent, but rather misplaced priorities and weak institutional support.

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    Others noted that achievements of this scale rarely trend as much as scandals, despite their far greater implications for jobs, investment and national reputation.

    Nonetheless, the consensus was clear: Flutterwave’s journey is proof that Nigerian companies can define global standards when innovation is properly channelled.

    Hence, beyond the symbolism of flashing screens and global exchanges, Flutterwave’s latest moment represents something more enduring.

    It highlights the quiet but powerful progress of African founders who are building globally relevant companies, attracting international confidence and reshaping how the world perceives Nigerian enterprise.

    As Flutterwave continues to scale and consolidate its position in global fintech, its story is increasingly less about a single milestone and more about sustained execution.

    In an era hungry for positive narratives, the company’s rise offers a compelling reminder that Nigeria’s most transformative headlines are still being written, not in scandal, but in strategy, innovation and global impact.

  • Flutterwave acquires open banking startup Mono

    Flutterwave acquires open banking startup Mono

    Flutterwave, Africa’s leading payments technology company and most valuable unicorn, has acquired Mono, a Y Combinator-backed Nigerian open banking infrastructure provider, in an all-stock transaction estimated between $25 million and $40 million.

    The acquisition integrates Mono’s API-driven platform, which enables businesses to securely access financial data, verify identities, track customer financials, and initiate account-to-account payments across multiple banks and fintechs.

    Often described as the “Plaid for Africa,” Mono has powered millions of bank account linkages and processed vast amounts of financial data, serving clients including major digital lenders and platforms like Moniepoint and PalmPay.

    Under the terms of the deal, Mono will continue to operate independently, with no changes to its leadership, team, or day-to-day operations.

    This structure allows Mono to leverage Flutterwave’s extensive reach, spanning over 30 African countries, local licenses, and payment rails, while maintaining its innovation pace and contributing its open banking technology to Flutterwave’s ecosystem.

    The move signals a shift in Africa’s fintech landscape toward bank-based, authenticated payment methods over traditional card rails, enhancing capabilities like faster onboarding, reduced fraud, and seamless direct payments.

    It also marks a rare meaningful exit in the African fintech space, providing liquidity for Mono’s investors amid a challenging funding environment.

    This acquisition kicks off 2026 with significant consolidation in African payments infrastructure, positioning Flutterwave to deepen its vertical integration and support the continent’s evolving digital economy.

    Commenting on the acquisition, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said: “This acquisition reflects how we think about the future of financial infrastructure in Africa. Payments, data, and trust cannot exist in silos.

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    Open banking provides the connective tissue, and Mono has built critical infrastructure in this space. This acquisition allows us to expand what’s possible for businesses operating across African markets, while staying grounded in security, compliance, and local relevance.”

    On his part, Abdulhamid Hassan, Founder and CEO of Mono, said: “We built Mono to unlock Africa’s Open Banking potential, and since our first partnership with Flutterwave in 2021 and working together over the years,

    “We’ve seen the power of a coordinated effort towards this goal. Mono’s capabilities across financial data access, direct bank payments, and identity verification, combined with Flutterwave’s unmatched scale and global reach, create something more defensible and comprehensive.

    “This acquisition allows us to build the infrastructure layer that powers the next generation of African fintech at the speed and scale the continent deserves.”

    At a time when Africa’s digital economy is demanding infrastructure that is
    open by design and built for trust, the investment signals a deliberate move toward systems that are interoperable, data-driven, and designed to support long-term growth across the continent.

    The transaction was advised by Nichole Yembra, Founder and Managing Partner at The Chrysalis Advisors Africa, who supported the parties through strategic positioning and execution.

  • Flutterwave acquires Mono to drive payment

    Flutterwave acquires Mono to drive payment

    Flutterwave, Africa’s leading payments technology company, has acquired Mono, a pioneer in open banking infrastructure across the continent.

    The transaction deepens Flutterwave’s long-term commitment to building a connected, interoperable financial system for Africa and positions open banking as a core pillar in the evolution of alternative payment methods across the region.

    Mono’s API-driven platform enables secure access to financial data, identity verification, and account-to-account payments; capabilities that are increasingly critical as African markets move toward more trusted, data-led financial services.

    Under the terms of the acquisition, Mono will continue to operate independently, with no changes to its leadership structure, team, or day-to-day operations.

    Flutterwave’s stake enables strategic alignment rather than operational control, allowing Mono to maintain its pace of innovation while contributing its open banking infrastructure to Flutterwave’s broader payments ecosystem.

    Read Also: Flutterwave co-founder mobilises support for Kwara Education Trust Fund

    The acquisition reflects a growing recognition that the next phase of Africa’s payments growth will be driven less by card rails and more by bank-based, authenticated, and locally relevant payment methods.

    By integrating Mono’s open banking APIs, Flutterwave strengthens its ability to support faster onboarding, improved verification, reduced fraud, and seamless account-to-account payments. The collaboration also creates a clear pathway for expanding into richer alternative payment methods, authenticated payment flows, and, over time, open banking-enabled stablecoin use cases.

    It also carries implications well beyond product expansion. Businesses gain access to infrastructure that simplifies compliance-heavy processes such as identity checks and bank verification, while improving conversion and reliability at scale.

    Developers and partners benefit from a unified environment where payments and financial data coexist, reducing complexity and accelerating time to market.

    The integration enhances Flutterwave’s vertical depth, reinforcing long-term value creation through stronger margins, deeper platform stickiness, and differentiated infrastructure. Regulatory stakeholders benefit from increased standardization, stronger data protection, and adherence to global security frameworks, including PCI-DSS and ISO 27001.

    Commenting on the acquisition, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, said, “This acquisition reflects how we think about the future of financial infrastructure in Africa. Payments, data, and trust cannot exist in silos. Open banking provides the connective tissue, and Mono has built critical infrastructure in this space.

    This acquisition allows us to expand what’s possible for businesses operating across African markets, while staying grounded in security, compliance, and local relevance.”

    Adding to this, Abdulhamid Hassan, Founder and CEO of Mono, said,  “We built Mono to unlock Africa’s Open Banking potential, and since our first partnership with Flutterwave in 2021 and working together over the years, we’ve seen the power of a coordinated effort towards this goal.

    Mono’s capabilities across financial data access, direct bank payments, and identity verification, combined with Flutterwave’s unmatched scale and global reach, create something more defensible and comprehensive. This acquisition allows us to build the infrastructure layer that powers the next generation of African fintech at the speed and scale the continent deserves.”

    At a time when Africa’s digital economy is demanding infrastructure that is open by design and built for trust, the investment signals a deliberate move toward systems that are interoperable, data-driven, and designed to support long-term growth across the continent. The transaction was advised by Nichole Yembra, Founder and Managing Partner at The Chrysalis Advisors Africa, who supported the parties through strategic positioning and execution

  • FG, MOFI, Flutterwave in talks to drive digital economy growth

    FG, MOFI, Flutterwave in talks to drive digital economy growth

    The Federal Government has opened discussions with Flutterwave Technology Solutions Limited to explore a strategic partnership aimed at strengthening Nigeria’s digital economy and expanding financial inclusion.

    The meeting, which took place at the Ministry of Finance headquarters in Abuja, was attended by the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, with officials of the Ministry of Finance Incorporated (MOFI) and senior executives from Flutterwave, Africa’s leading financial technology company.

    According to a statement from the Ministry, the engagement focused on how the government can leverage Flutterwave’s financial technology infrastructure to deepen access to finance, promote cross-border trade, and boost small and medium-sized enterprises (SMEs).

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    Flutterwave, which operates across more than 30 African countries, presented its suite of digital payment solutions designed to simplify cross-border transactions and enhance regional commerce. The company detailed how its platform is supporting entrepreneurs and businesses in connecting with customers across diverse markets, thereby stimulating job creation and economic growth.

    Officials of MOFI and Flutterwave agreed to develop a roadmap for collaboration that aligns with national economic objectives, particularly in the areas of digital payments, technology-driven public finance solutions, and innovation-led growth.

    Once concluded, the partnership is expected to bolster Nigeria’s financial technology ecosystem, improve cross-border payment systems, and further strengthen investor confidence in the country’s digital economy.

  • Flutterwave co-founder mobilises support for Kwara Education Trust Fund

    Flutterwave co-founder mobilises support for Kwara Education Trust Fund

    Top Nigerian techie and co-founder of Andela Iyinoluwa Aboyeji has asked friends and well-wishers to donate to the Kwara State Education Trust, an initiative he said is worth emulating by other States to strengthen public education.

    Iyinoluwa was also the cofounder of Flutterwave, Africa’s leading payments technology firm, as well as Future Africa, a platform that provides capital and mentorship for young innovators.

    Iyinoluwa, a member of the board of the Trust Fund, also said any anyone who donates at least $1000 to the Funds would be eligible for a private dinner with him.

    The Trust Fund is one of the many initiatives of Governor AbdulRahman AbdulRazaq to strengthen public sector education. 

    The techie, who is one of Africa’s biggest success stories in fintech, made the comment in a message ahead of his 34th birthday on March  28.

    “As it is the tradition, instead of birthday gifts this year, I’m asking friends and well-wishers to donate toward some of the initiatives of the Kwara Education Trust Fund such as sponsoring a child’s secondary school education to renovate schools,” he wrote on his social media handle. 

    “Each donation will benefit current and future generations of students in Kwara.

    “On the 28th of March this year, I will be celebrating my 34th birthday, and in my typical fashion, I want to share this important piece of information with you.

    “The Kwara State Education Trust Fund of which I am a member of the board is an independent body governed by reputable individuals from the public and private sectors who encourage and enable private citizens like me and you to directly and transparently support the provision and delivery of quality education to young people in Kwara from early years to University by investing in scholarships and bursary programmes, education infrastructural projects and capacity building for teaching and learning.”

    Iyinoluwa noted that the initiative is key to building the future of Kwara State through sustainable investments in quality education.

    “This innovative approach to augmenting resources to invest in public education allows the public, particularly Kwara indigenes (home and in the diaspora) as well their friends, to partner with the government to build the future of Kwara State through sustainable investments in quality education….If you are from elsewhere, tell your government to consider starting a similar initiative in your state.”

  • Flutterwave, SMEDAN partner to drive small business growth in Nigeria

    Flutterwave, SMEDAN partner to drive small business growth in Nigeria

    Flutterwave, Africa’s leading payments technology company, has announced a strategic partnership with the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) to provide micro, small, and medium enterprises (MSMEs) across the nation with cutting-edge digital payment solutions, e-commerce tools, financial access, and capacity-building programs.

    This partnership marks a significant milestone in Flutterwave’s ongoing mission to support small businesses and keep their businesses thriving, a commitment the company has demonstrated through innovative products and initiatives such as the Flutterwave Store, small business grants, annual trade fairs, and the ‘Keeping the Lights On’ campaign, which has helped thousands of businesses stay operational despite economic challenges.

    Under this partnership, and in line with SMEDAN’s Grow Nigerian initiative, Flutterwave and SMEDAN will collaborate to provide MSMEs with seamless and secure digital storefronts, payment solutions, enabling them to accept payments from customers worldwide through mobile wallets, card payments and bank transfers.

    Speaking on the partnership, Olugbenga ‘GB’ Agboola, Founder and CEO of Flutterwave, emphasized the company’s dedication to empowering Nigerian businesses: “As a business with Nigerian roots, we understand the challenges that small businesses face daily. That’s why we are honoured to partner with SMEDAN in ensuring that small businesses have access to the best payment and e-commerce solutions to scale their businesses. This partnership reflects our continued commitment to keeping the lights on for small businesses and ensuring they have the financial tools they need to succeed in today’s digital economy.”

    Read Also: Flutterwave to list N4.5tr shares on stock exchange

    On his part, Charles Odii, Director-General and CEO of SMEDAN, expressed confidence in Flutterwave’s capabilities to drive meaningful impact: “One of the biggest challenges MSMEs face is access to digital tools, financial resources, and training that can help them scale. With Flutterwave as our partner, we are assured that we have a solid ally in our corner, providing Nigerian businesses with innovative and tailored solutions that will enable them to compete effectively on a global scale.”

    With Nigeria’s small businesses forming the backbone of the economy, this collaboration leverages the strengths of both organizations — Flutterwave’s expertise in fintech and SMEDAN’s deep-rooted network within the MSME ecosystem — to create sustainable solutions that drive long-term business success.

    Through this partnership, Flutterwave and SMEDAN reaffirm their commitment to empowering small businesses, promoting financial inclusion, and driving Nigeria’s economic development in the digital age.

  • Flutterwave to list N4.5tr shares on stock exchange

    Flutterwave to list N4.5tr shares on stock exchange

    • Largest financial services company, fifth most capitalised

    Flutterwave, a global fintech company that provides payment infrastructure for merchants and payment service providers, has unveiled plan to list its shares on the Nigerian Exchange (NGX).

    Flutterwave disclosed the Nigerian listing plan during a courtesy visit to President Bola Tinubu at the State House, Abuja.

    Flutterwave, which is valued at $3 billion, was founded by young Nigerians and it operates in the United States, Canada, Nigeria, Kenya, Uganda, Ghana, South Africa, and 29 other African countries.

    With a potential market valuation of more than N4.5 trillion, at current exchange rate, Flutterwave will become the fifth most capitalized and the largest financial services company at the Nigerian stock market, trailing Dangote Cement, Airtel Africa, BUA Foods and MTN Nigeria Communications.

    Market analysts expected initial bullish momentum to drive the fintech to the top three chart of the market.

    Receiving the Flutterwave team, Tinubu said his administration would support businesses in the financial technology sector that provide payment infrastructure services for Nigerians and Africans.

    Minister of Finance and Coordinating Minister of the Economy Mr Wale Edun led the delegation to the meeting with the president. Olugbenga Agboola, Chief Executive Officer; Adeleke Adekoya, a co-founder; Oluwabankole Falade and Mitesh Popat, who represented Flutterwave at the meeting. Ms Oluseun Olufemi-White represented Alami Capital as its Chief Executive Officer.

    Dr. Armstrong Ume Takang, the Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, the Director General and Chief Executive Officer of the National Information Technology Development Agency (NITDA), also attended.

    Read Also: BOI partners NACCIMA to boost small business industrial growth

     Tinubu said Nigeria is genuinely open to business, and as President, he is determined to remove all obstacles to allow companies to thrive.

    He commended Flutterwave’s commitment to building capacity in the digital economy sector, especially as it is being made possible by energetic, young Nigerians. He said he is honoured to be the President of a country with such a youthful and resourceful population.

    He said the leadership Flutterwave provides in the digital world is what Nigeria needs today to grow its economy and make life easier for most of its population.

    Edun said Flutterwave has made significant progress since its establishment 10 years ago.

    According to him, the company has created jobs and helped diversify the economy by providing innovative digital platforms and payment services in Nigeria and across Africa.

    Agboola said the company has made it easy for Nigerians to pay for some global services with naira and provided payment platforms for Nigerians in the diaspora who are willing to send money to families and relatives in the country.

    He said Flutterwave, valued at over $3 billion, is a Nigerian export and brand employing over 1,000 Nigerians.

    He said the company seeks to be listed on the Nigerian Exchange and solicited the president’s support.

    In a statement by Special Adviser to the President on Information and Strategy, Mr. Bayo Onanuga, Takang also said that as Africa’s biggest economy, Nigeria must demonstrate its economic prowess by strategically positioning products and services by Nigerian companies, such as Flutterwave, in the homes of all Africans.

    He said Flutterwave spends millions of dollars monthly on hosting services, but that money goes to other countries.

     He suggested supporting Galaxy Backbone’s hosting services to enable it to handle companies like Flutterwave.

  • Flutterwave and the Perks of Partnership

    Flutterwave and the Perks of Partnership

    When Olugbenga “GB” Agboola founded the fintech startup Flutterwave in 2016, he articulated an ambitious mission for the company: to connect Africa’s efficient but disjointed payment networks.

    For years, the continent’s economy was often hindered by a patchwork of rules and regulations that varied considerably from one country to the next. This made it difficult for multinational corporations to do business across countries, leading to less investment in Africa.

    But Agboola believed the way to fix the system was to make working in Africa easier for corporations. He wanted to create a way to simplify cross-border transactions, a single platform that would communicate effectively and efficiently with all payment methods in the continent, freeing up big businesses to work without interruption.

    There was only one problem: He couldn’t do it alone. No company could possibly fix all the broken systems that were slowing business across the continent.

    The only way Flutterwave could function was to forge partnerships. And that’s exactly what Agboola did.

    The Spark of an Idea

    Before starting Flutterwave, Agboola worked in financial technology for companies like Google Wallet and PayPal. But it was his time at a bank in Africa that showed him the limits of the African payments system.

    The problems came to a head when one of Agboola’s clients complained about the time it took to pay workers in a different country. Even though his bank had branches in both countries, transferring money across the border took a few days.

    “I was wondering, ‘Why can’t we just build this infrastructure? Why, if I want to send money to Ghana, does money have to move from Lagos to New York, and from New York to Ghana?’” Agboola said. “It didn’t make sense to me. If you get on a plane from Lagos to Ghana, you get there faster than doing a money transfer. You might as well take the money in a bag and get on a plane.”

    That realization was the spark that ultimately led to him founding Flutterwave.

    “That’s where I saw that there is a need for a third-party player in the middle of all the banks who can talk to all the banks and provide some sort of complementary services to make payments simple for a small margin.”

    And, like all third-party businesses, the company needed to build trust on both sides in order to succeed.

    Flutterwave’s First Partners

    From the start, the idea of partnerships played a central role in Flutterwave’s strategy. But it wasn’t until Agboola found a willing partner that his company’s potential finally began to come into view.

    As luck would have it, just as Agboola was trying to get Flutterwave off the ground, another tech startup was trying to expand its presence in Africa. Uber had been intrigued by the potential of the African marketplace, but found the terrain unfamiliar and hard to navigate. When an executive team heard Agboola’s proposal, they signed on quickly, giving the newly minted e-payments platform legitimacy in the eyes of African banks and ratcheting up its value to outside investors.

    The partnership proved fruitful on both ends.

    “We helped Uber to scale across Africa, and we followed them into every market that we’re going to go into,” said the Flutterwave CEO. “Our expansion and growth story can be linked to our customer requirement, and it can also be linked to our philosophy about making payments simple across Africa, and simplifying payments for endless possibilities.” 

    The approach was a smart one. Whenever Uber wanted to move into a new African country, Flutterwave helped smooth the transition. Today, Flutterwave has processed over 630 million individual transactions totaling over $31 billion.

    Growing Together

    Through its eight-year history, Flutterwave has worked alongside some of the world’s best-known businesses, including Meta, Netflix, Microsoft, and Worldpay. Each one has helped the startup find new footing and opportunities to expand, Agboola said.

    “For us as a company, it’s really just about how do we make sure our customers can scale on our platform? How do we make sure our customers can go to any country in Africa and all they have to do is just flip a switch, literally, on our dashboard, and they can just go live in their new market?” he said. “Our growth has been customer-defined. Our expansion is always customer-driven. Where does the customer want us to be? We listen to the customer a lot in Flutterwave, in fact extremely. We have an extreme customer obsession in Flutterwave when it comes to what our customer wants and how we deliver to the customer.”

    Flutterwave’s Other Partners

    Big clients are only half the story. Flutterwave operates in over 30 countries across the [1] globe. And to operate successfully, it had to find ways to forge partnerships with governments and local banks in each and every nation it operates.

    In fact, partnerships with traditional financial institutions are what makes Flutterwave viable, Agboola said. It was his experience and understanding of banks that allowed him to launch Flutterwave — not as a competitor, but as a partner.

    “I saw that there’s an opportunity for a nonbank player to come in here and partner with banks and build an infrastructure that relies on banking rails, but build a layer above that and make it smoother, and smoothing out the speed bumps in the banking infrastructure,” he said. “That’s what we’ve done.”

  • Flutterwave and EFCC: A Public-Private Partnership To Secure Nigeria’s Digital Future

    Flutterwave and EFCC: A Public-Private Partnership To Secure Nigeria’s Digital Future

    Flutterwave, Africa’s leading payments technology company, recently announced[1]  it’s partnering with Nigeria’s Economic and Financial Crimes Commission to establish a state-of-the-art Cybercrime Research Center. The center will address the rising threat of financial fraud as the digital payment ecosystem continues to evolve.

    According to Flutterwave, the public-private collaboration will intensify the fight against internet crime, enhancing the security of business transactions to strengthen financial systems’ stability and consumers’ level of trust while paving the way for a more secure and prosperous economy within Nigeria and across Africa.

    “As the largest payments infrastructure company in Africa, we are committed to promoting secure and safe transactions,” said Flutterwave founder and CEO Olugbenga Agboola. “This initiative underscores our commitment to creating a fraud-free financial ecosystem and leading the charge in safeguarding transactions across Africa. We applaud the EFCC’s relentless efforts to combat internet fraud and other illicit activities in the financial sector.”

    Flutterwave and the EFCC Tackle Cyber Concerns

    Located at the EFCC Academy[2] , which develops and delivers training to EFCC staff, law enforcement and security agencies, and other entities in and outside of Nigeria, the Cybercrime Research Center will facilitate advanced financial crime-related research and training, focusing on several key areas.

    The center will, for instance, work to develop new advanced fraud detection and prevention technologies; offer instruction to law enforcement and industry professionals about how to effectively combat modern financial crimes; and engage in joint research and policy initiatives to further financial crime comprehension and regulation, according to financial technology research firm IBS Intelligence.

    In addition to creating a repository of resources to help support financial crime investigations — such as protocols for addressing cryptocurrency-related crime — the center will also provide training and research opportunities to 500 young participants, helping them obtain critical digital economy-related skills.

    EFCC and Flutterwave announced their Cybercrime Research Center partnership and formally signed a Memorandum of Understanding in June at an event held in Nigeria’s capital, Abuja.

    Attending the event with additional senior officials from both the EFCC and the FBI were Ola Olukoyede, the executive chairman of EFCC, Olugbenga Agboola, Mobolaji Bammeke, and Christopher Wray, FBI director.

    In a statement[3] , Olukoyede expressed appreciation for the partnership.

    “The EFCC is impressed with the strides and expanse of Flutterwave across Africa,” he said. “This partnership marks a significant leap forward in our efforts to combat financial crimes and ensure a secure financial landscape for Nigerians. The Cybercrime Research Center will significantly enhance our capabilities to prevent, detect, and prosecute financial crimes.”

    A Concentration on Service

    Since its founding, Flutterwave has worked to provide effective payment options for both individuals and businesses, ranging from startups and small organizations to corporations.

    Africans in the diaspora can utilize Send App, Flutterwave’s flagship remittance solution to send money home to loved ones. [4] [5] [6] 

    Businesses can use Flutterwave’s platform to make and to accept payments in more than 30 currencies from anywhere in the world via methods such as debit and credit cards, point-of-sale capabilities, M-Pesa, and other mobile money transfer and financing services in Africa, mVisa QR Codes, and USSD. This is often useful for enterprise businesses and multinationals expanding into and within Africa.

    Flutterwave’s announcement about the new Cybercrime Research Center follows a robust year of growth for the company, which ultimately increased its business and retail product customer base by more than 160%.

    Flutterwave announced a collaboration with Audiomack in June 2023, which has allowed the music-streaming and discovery platform to use Flutterwave’s seamless and secure payment processing functionality to provide premium music experiences and fee-based features to customers and artists.

    Flutterwave also debuted partnerships with European payment infrastructure provider Token.io, providing bank account-to-account payment services to its customers, and the International Air Transport Association, involving an integration with IATA’s payment platform that’s helped position more than 200 international airlines to process card, bank transfer, mobile money, and other payment methods.

    Read Also: Microsoft, Flutterwave to fast-track payment innovation in Africa

    In December 2023, Flutterwave said it had acquired an international money transfer operator license in Malawi and money transmitter licenses in 13 U.S. states. The expansion allows Flutterwave to serve customers in 29 states in total, which will position the company to offer[7]  faster, more affordable, and secure money transfers between the U.S. and Africa.

    Flutterwave also earned a spot on the CNBC Disruptor 50 list in 2023 — composed of leading innovators and entrepreneurs selected due to factors such as their scalability, user growth, and breakthrough technology use — and Fast Company named Flutterwave the most innovative company in the Europe, Middle East, and Africa region, noting it had expanded its remittance product and was targeting a market of 200 million abroad.

    “We’re thrilled to be recognized as No. 1 in the Most Innovative Company Europe, Middle East, and Africa Category,” Olugbenga Agboola said[8]  in a statement about the designation. “Innovation is an integral part of our core values, which we continue to adopt across all parts of our business.”

  • Microsoft, Flutterwave to fast-track payment innovation in Africa

    Microsoft, Flutterwave to fast-track payment innovation in Africa

    Microsoft has announced a five-year strategic technology partnership with Flutterwave. 

    Through the new deal, Flutterwave will build its next generation platform on Microsoft’s Azure, with the goal of fast-tracking payment innovation in Africa and, in so doing, accelerating the growth of small businesses across the continent. Small and medium sized enterprises (SMEs) are crucial to Africa’s progress and development. 

    According to estimates, about 90 per cent of the continent’s population is employed by SMEs. Beyond employment, these businesses are often at the forefront of innovation, providing solutions to Africa’s most pressing societal challenges. Though small businesses and startups are the bedrock of the African economy, they are required to navigate enormous obstacles simply to succeed. 

    Research from the African Union Development Agency says about five out of seven SMEs in Africa will fail in their first year. Similarly, the average startup failure rate in Africa sits at around 54 per cent. 

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    A key challenge for SMEs and startups is a lack of access to financial services and the inability to transact seamlessly across local payment methods. While about 90 per cent of transactions in Africa are still cash-based, as many as half of small businesses are without access to credit. 

    “To drive sustainable growth in Nigeria, small businesses need the ability to participate more actively in the local and even global marketplace. This begins with digital financial inclusion. If we want to build a more resilient country and ultimately a more prosperous continent, we must begin by giving these businesses the digital financial services they need, not just to survive, but to thrive,” says Ola Williams, Country Manager, Microsoft Nigeria.

    Flutterwave’s mission has been exactly that – helping businesses overcome challenges surrounding access to financial services and connecting them to the global stage. It does this by enabling multiple payment modes, including local and international cards, mobile wallets and bank transfers. In fact, since inception, Flutterwave has made important inroads around the democratisation of payments in Africa. 

    Now by collaborating with Microsoft, the payments technology company aims to fuel growth and further revolutionise payments for businesses across Africa. Transitioning away from its legacy infrastructure and onto Azure will allow Flutterwave to process high volume payments at scale, ensuring a seamless and secure payment experience for its clients.Through Azure OpenAI Service, it also has the opportunity to scale its product offering to millions of merchants worldwide. 

    Founder/Chief Executive Officer, Flutterwave, Olugbenga Agboola, said: “In our journey at Flutterwave, we’ve always strived to touch lives by simplifying payments and connecting dreams to opportunities.Today, as we join hands with Microsoft, it feels like a family reunion of visionaries and go-getters. 

    “The excitement in our team is palpable because this partnership isn’t just about transactions – it’s about transformation. We’re honoured that Microsoft believes in our vision and trusts our capability. I am proud to say we’re not just dreaming of an inclusive digital Africa; we’re creating it.”