The African Fintech Giant: Black-Owned Flutterwave Raises Series D Round That Triples It’s Valuation To More Than $3B

African fintech Flutterwave has raised $250 million in a Series D round that tripled the company’s valuation to over $3 billion in just a year.

It comes after the San Francisco-headquartered and Lagos-based startup raised $170million last year march.

Flutterwave facilitates cross-border payments transactions of small to large businesses in Africa via one API.

The company also helps businesses outside Africa expand their operations on the continent. Some of its international clients include Booking.com, Flywire and Uber.

After scaling its payments product across sub-Saharan Africa, Flutterwave has expanded its services up north to Egypt and Morocco.

The news of the round isn’t too much of a shock because it confirms an already published Bloomberg scoop from October.

Financing brings Flutterwave’s total raise since it began six years ago to $475 million.

It raised a $35 million Series B in 2020 and a $20 millionSeries A in 2018.

The new capital gives Flutterwave ammunition to develop more complementary products.

It will also help the company speed up customer acquisition in existing markets and grow through M&As, the company said in a statement to TechCrunch.