Nigerian payments unicorn Flutterwave has raised a Series E round of funding that values it at US$3.2 billion, with leading global blockchain-based finance company Ripple one of its new investors.
Launched in 2016, Flutterwave builds modern payments technology and infrastructure for Africa to enable people and businesses to connect with the global economy. Its solution enables banks and merchants to replace multiple payment integrations with one simple API, which enables processing of any form of payment anywhere in Africa. To date, the company has processed over US$40 billion in payments and enabled more than 1 billion unique transactions.
The company, which earlier this year secured a Nigerian banking license, is one of Africa’s few tech unicorns, with a valuation exceeding US$3 billion, and has now bolstered that valuation with an undisclosed Series E round that prices Flutterwave at US$3.2 billion. Its US$250 million Series D round was raised back in 2022.
The Series E round features a strategic investment from Ripple, the leading provider of blockchain-based enterprise solutions for traditional and digital finance. This partnership marks the definitive next phase of Flutterwave’s long-term stablecoin strategy, seamlessly connecting its existing cross-border settlement capabilities with enterprise-grade digital liquidity.
By anchoring this infrastructure in the heart of the continent, Flutterwave believes it is empowering African businesses to bypass legacy frictions, ultimately bolstering Nigeria’s role as the primary hub for global digital asset trade and driving sustained economic resilience across the African continent.
Olugbenga “GB” Agboola, founder and CEO of Flutterwave, said the investment
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