Flutterwave, a San Francisco and Lagos-based fintech startup, has announced that it has closed a $35m Series B from a consortium of strategic investors.
Series B financing (also known as series B round or series B funding) is one of the stages in the capital-raising process of a start-up. It is the third stage of start-up financing and the second stage of venture capital financing.
A statement from Flutterwave on Tuesday indicated that the round was co-led by Greycroft and eVentures with additional participation from CRE Venture Capital, WorldPAY FIS, VISA, Green Visor and Endeavor.
Flutterwave connects the African continent to the world at large by providing easy and reliable payment solutions for businesses around the globe.
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To date, Flutterwave has processed 100 million transactions valued at over $5.4bn globally for clients including Uber and Booking.com, the statement added.
Founder and Chief Executive Officer, Flutterwave, Olugbenga Agboola, was quoted to have said, “We’re helping businesses in Africa and globally accept payment and to scale by being the payment technology that connects Africa to the world.”
According to him, with the funding, Flutterwave will invest in technology and business development to grow market share in existing operating countries.
Yetunde Adegoke
