Africa based fintech startup providing payment services and payment infrastructure for global merchants Flutterwave announced having raised $250 million from its latest financing round which went down as the single-biggest funding round ever held by the company.
This financing round left the company sitting on a market valuation of $3 billion. The company says it will be using proceeds from the funding round to pursue strategic acquisitions and mergers as well as expanding its existing customer base.
The funding round was led by high profile investors like B Capital Group which is owned by the co-founder of Facebook Inc. Eduardo Saverin and Whale Rock Capital Management, a Boston based hedge fund.
“It (funding) gives Flutterwave the much-needed support to deliver on our plans to provide the best experience for our merchants and customers around the world,” said the founder and CEO of Flutterwave, Olugbenga Agboola.
Since its launch, Flutterwave has processed over 200 million transactions valued at over $16 billion across 34 countries in Africa. The company says so far it has served around 900,000 customers.